Invest Korea Summit draws record $1.21b as APEC boosts investor confidence

The Invest Korea Summit secured a record $1.21 billion in foreign investment this year, buoyed by the Asia-Pacific Economic Cooperation forum taking place alongside it, the Korea Trade-Investment Promotion Agency (Kotra) said Thursday.

Hosted by the Ministry of Trade, Industry and Energy and organized by Kotra, the nation’s largest government-led investor relations event began its four-day run Wednesday in Seoul, drawing more than 2,000 global investors, business leaders and officials.

A major boost came from the APEC summit held this week in Gyeongju. On its sidelines, Invest Korea hosted a global investment partnership session where seven companies, including Amazon Web Services, Renault and Amkor Technology, pledged a combined $9 billion investment in Korea over the next five years. About $660 million of that was executed on-site.

In Seoul, seven firms pledged an additional $550 million in key sectors, including Tokyo Electron and Mitsui Chemicals in semiconductors, Ocean Winds in renewable energy, Valeo in autonomous driving and BASF in high-value-added chemicals. In the content and food sectors, which are gaining renewed global attention, HappyTuk will invest in content and Agrana in food manufacturing.

With President Lee Jae Myung’s administration identifying artificial intelligence as a key growth engine for the next five years, this year’s summit focused on drawing investment that could strengthen Korea’s competitiveness in AI and other advanced sectors such as chips, biotech and autos.

“The advancement of AI and cutting-edge technologies is creating new industries and innovations, while supply chain realignment underscores the rising importance of strategic cooperation among nations,” said Kim Tae-hyung, commissioner of the Invest Korea Summit, in his opening speech Thursday.

“This event will provide an opportunity for the world to explore new avenues of collaboration with Korea in this era of global competition,” he added.

First Vice Industry Minister Moon Shin-hak highlighted Korea’s investment appeal, vowing stronger backing for local firms and foreign investors.

“Korea is an attractive destination for global companies to invest in, and foreign investment has been a key driver enhancing the country’s industrial competitiveness,” Moon said.

“Amid heightened global uncertainty, the government will push to ensure Korea remains a global business hub by strengthening competitiveness in high-tech industries, diversifying export markets and advancing the foreign investment support system.”

During the conference, Naver Cloud CEO Kim Yu-won and Furiosa AI CEO June Paik delivered keynote speeches emphasizing the importance of developing sovereign AI technologies and advancing next-generation AI innovations.

Meanwhile, Seoul and Washington finalized a trade agreement centered on a $350 billion investment pledge Wednesday on the sidelines of the APEC summit, raising hopes of renewed corporate-level momentum to reinvigorate Korea’s sluggish foreign investment. According to the Industry Ministry, foreign direct investment in Korea fell 15 percent on-year in the first half of this year to $13.1 billion, weighed down by uncertainties from US tariff hikes and escalating geopolitical tensions.