April 24, 2024

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Korea’s Industry Ministry said on Feb. 20 it hosted conferences in Australia and New Zealand to induce businesses from Oceania to make more foreign-direct investment.

The ministry said while Australia and New Zealand accounted for 2.7 percent of its trade in 2018, the two countries were responsible for only 1 percent of the total FDI in Korea.

Through the conferences, the ministry said it aimed to invite competitive companies from Australia and New Zealand, in the fields of software, finance, and tourism, to Korea. 

The ministry said it is important for Korea to forge broader ties with the two countries, especially amid the escalating uncertainties in the global market, including the Washington-Beijing trade dispute and the departure of Britain from the European Union.

By Ram Garikipati and newswires (ram@heraldcorp.com)