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Symposium in Seoul for investment into Japan

September 2017

On September 26, JETRO took the opportunity of the 50th anniversary of the establishment of JETRO Seoul by holding a large-scale symposium in Seoul, Korea for attracting investment in Japan, which was joined by approximately 200 people from Korean companies and institutions.

Deputy Minister for Trade Kang Sungcheon of Korea's Ministry of Trade, Industry and Energy expressed his expectation for the role of JETRO Seoul to create business opportunities, explaining that the three fields of healthcare, IoT and cross-border e-commerce will be key to further developing economic exchange between Korea and Japan in the future. This was followed by Japanese Ambassador to Korea Yasumasa Nagamine, who emphasized the importance of a cooperative framework between Korea and Japan, and expressed his desire to proactively promote economic exchange in a future-oriented manner.

In his keynote speech, JETRO Chairman and CEO Hiroyuki Ishige looked back on the 50-year history of JETRO Seoul and affirmed that Korea and Japan are important economic partners. He enthusiastically spoke on "why now is the best timing to invest in Japan" explaining the improved economic conditions under Abenomics, advantages of the Japanese business environment and benefits of doing business in Japan. In addition to that, he stated that the increase of Korean investment into Japan will further strengthen the relationship between two countries and emphasized the importance of investing in Japan now.

Keynote speech by Chairman Ishige

Activities for investment in Japan by Korean companies and specialized agencies

Presentations were made by two Korean companies regarding investment in Japan in the fields of medical care and IT. President Kim Myongjun of Daewoong Pharmaceutical Co., Ltd. made clear how growth can be expected for business in Japan, which possesses an enormous medical market. Co-Founder and Executive Vice President Kim Jaehong of Korean IT start-up ZOYI Corporation illustrated the attractiveness of Japan, including the stability of its business environment and economic scale, relaying the episode of how his company established a joint venture in the country. Deputy Director Jung Youngdeug of the ICT Business Office within the Korea Trade-Investment Promotion Agency (KOTRA), a Korean government-affiliated organization tasked with assisting Korean companies in doing business in the overseas market, introduced the support programs of the KOTRA IT Support Center in Tokyo. He expressed his hope on behalf of KOTRA that it will support more Korean companies to start operations in Japan.


Presentation by President Kim Myongjun of Daewoong Pharmaceutical

Presentation by Executive Vice President Kim Jaehong of ZOYI Corporation

Presentations by local governments and PR corner

During the symposium, presentations were also made to introduce regional investment environments by seven local authorities in Japan: Miyagi, Chiba, Kanagawa and Shizuoka Prefectures; the Aichi-Nagoya International Business Access Center (I-BAC); the Osaka Business and Investment Center (O-BIC); and Fukuoka City. Industrial advantages, incentives and costs related to setting up a company in each area were introduced to Korean companies, and the participants were presented with alternatives other than Tokyo as an investment destination.

After the symposium, a network reception was held and a consultation corner was jointly set up by JETRO and the seven Japanese local authorities, where they received a wide variety of inquiries from a total of 65 participant companies, on topics such as crowdfunding, pharmaceuticals like oncologic drugs, greenhouse systems, cyber-security, eco-friendly semi-incombustible wood and solar technology. Many specific questions concerning establishment of local business sites were also received.

Consultation corner

Outline of the symposium

Date and time Tuesday, September 26, 2017, 10: 00-13: 10
(Network Reception and Consultation Corner: 12:00 - 13:10)
Venue Four Seasons Hotel Seoul
Organizer Japan External Trade Organization (JETRO)
Co-organizers Embassy of Japan in Korea, Korea Chamber of Commerce and Industry (KCCI), Korea Japan Economic Association (KJE)
Sponsors Ministry of Economy, Trade and Industry of Japan (METI)
Ministry of Trade, Industry and Energy of Korea (MOTIE)
Korea Trade-Investment Promotion Agency (KOTRA)
Korea-Japan Cooperation Foundation for Industry and Technology (KJCF)
Attendees 191 people (including 2 media outlets)
Program
  • Greeting by moderator: Kazuhiko Fujimoto, Deputy Director General, JETRO Seoul
  • Guest remarks: Kang Sungcheon, Deputy Minister for Trade, MOTIE
  • Guest remarks: Yasumasa Nagamine, Ambassador of Japan to Republic of Korea
  • Keynote speech: Hiroyuki Ishige, Chairman and CEO, JETRO
  • Presentation 1 (medical): Kim Myongjun, President, Daewoong Pharmaceutical Co., Ltd.
  • Presentation 2 (IT): Kim Jaehong, Vice Executive President, ZOYI Corporation
  • Introduction of Korea's overseas expansion support system (IT): Jung Youngdeug, Deputy Director, ICT Business Office, KOTRA
  • Presentation by local governments: Miyagi, Chiba, Kanagawa and Shizuoka Prefectures; the Aichi-Nagoya International Business Access Center (I-BAC); the Osaka Business and Investment Center (O-BIC) and Fukuoka City (3 minutes each)
  • Introduction of JETRO consultation corner: Kang Jinsook, Deputy Director, Invest Japan Business Promotion Team, JETRO Seoul
  • Network reception and consultation corner*
    * A consultation corner was jointly set up by Miyagi, Chiba, Kanagawa, Shizuoka prefectures, I-BAC (Aichi), O-BIC (Osaka), Fukuoka city and JETRO.