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https://www.koreatimes.co.kr/path/A2025111315210004159
In an ambitious bid to establish the Korean capital as a leading investment destination, the Seoul Metropolitan Government on Thursday launched Invest Seoul, a dedicated city agency designed to attract and facilitate corporate investments.
At an event held to celebrate the establishment of Korea’s first municipality-led institution focused on investment promotion, officials said its creation is a response to the growing global competition to attract foreign capital. The agency was officially registered on Oct. 21 and is set to serve as the control center for the city’s investment initiatives.
The organization’s strategies include making investment plans that leverage Seoul’s unique strengths, offering tailored support and business networks for companies, promoting major development sites, and strengthening the city’s global profile to attract investors.
Lee Ji-hyung, the inaugural president and CEO of Invest Seoul, outlined a vision to elevate the city as “Asia’s leading global investment hub.”
“We will reorganize the organization to provide close support throughout the entire process of investment attraction for Seoul’s strategic industries, such as fintech, artificial intelligence, biotechnology and robotics,” Lee said. “We will attract anchor companies in Seoul’s key strategic industries by linking them to development projects in the city.”
All of the foundation’s activities “are ultimately designed to create value that returns to the future of Seoul by bringing in foreign investment, creating jobs and making Seoul a better place to live and do business,” he added.
A highlight of the ceremony was the signing of memorandums of understanding between Invest Seoul and four investment promotion agencies from the United States, Japan, France and Luxembourg. The agreements are designed to foster investment networking, organize joint conferences and lay the foundation for a new international partnership ecosystem, the city government said. Invest Seoul also plans to establish regular consultative bodies with these partners to advance joint investment initiatives.
The launch event drew more than 100 guests, including the Association of American State Offices in Korea Chairperson Shin Hee-jung, Business France Seoul Director Matthieu Lefort, Japan External Trade Organization Seoul Director Naoyuki Maekawa and other dignitaries from foreign embassies, international investment boards and chambers of commerce.
Mayor Oh Se-hoon said his goal extends beyond making Seoul a good city for investment. “We want Seoul to become a city that people aspire to invest in,” Oh said.
“To create an environment where investment is free and innovation is continuous is the key to enhancing Seoul’s global competitiveness,” he added. “By offering one-stop support for the entire investment process ― from an investing firm’s first consultation to settlement and expansion ― we’ll help transform Seoul into a global investment hub where businesses will come and people, capital and technology will gather and grow.”
The founding of the agency follows a $57 million investment deal recently signed with French quantum computing company Quandela, which plans to set up a technology development center in Seoul. This deal marks the city’s second major quantum investment following last month’s partnership with Pasqal, another French quantum computing firm. City officials said these achievements are the evidence of the city government’s efforts to develop a thriving quantum industry ecosystem and a commitment to supporting joint research and development networks, talent development, and quantum-focused firms.
Invest Korea also said it will work with the Ministry of Trade, Industry and Energy to expand incentives for international investors.
