(approx. 1.2 billion USD)
South Korea has secured a total of 1.5 trillion won (US$1.16 billion) in investment commitments from four U.S. companies on the occasion of President Yoon Suk Yeol’s attendance at the Asia-Pacific Economic Cooperation (APEC) summit, the government said Sunday.
The industry ministry said that GM, DuPont, IMC and Ecolab have declared commitments to invest in South Korea on the occasion of Yoon’s attendance at this year’s APEC summit in San Francisco.
The ministry said it anticipates the investments by these four companies will lead to an annual export expansion and import substitution effect of over 4.5 trillion won.
The ministry said GM’s investment decision was a result of the government’s efforts to improve the investment environment, including regulatory reforms and institutional improvements to attract investment from global companies.