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  • Global Enterprise CEOs Say ‘Seoul Investment Environment Significantly Improved over Past Five Years’

  • Integrated News SMG 2090

    The Seoul Metropolitan Government hosted the 42nd Foreign Investment Advisory Council (FIAC) at Seoul Partners House in Yongsan-gu from 9 am on July 13.

    Fourteen business leaders including the CEOs of a number of world leading enterprises operating in Korea and the chiefs of foreign chambers of commerce in Korea gathered together to discuss the foreign investment environment in Seoul.

    In his suggestion that Seoul should be developed into one of the global Top Five Cities, Roland Villinger, Chairman of the FIAC (Chief of McKinsey & Company Seoul office), said, “Seoul’s urban competitiveness, including its investment environment, has significantly improved over the past five years,” noting that its urban infrastructure, cultural environment, R&D, corporate competitiveness and global reputation in particular had all improved dramatically.

    The FIAC meeting brought together a total of 24 people, including Seoul Mayor Oh Se-hoon, the CEOs of global companies such as Villinger, Eric Hoffman, vice chairman of AON Korea, and Simon Bureau, chairman of the Canadian Chamber of Commerce, as well as officials of the Seoul Metropolitan Government.

    The FIAC is an advisory group composed of the CEOs of foreign firms operating in Seoul and the chiefs of foreign chambers of commerce of different countries. In order to help invigorate foreign investment in Seoul, the group has been conducting diverse advisory activities aimed at improving the foreign investment environment in Seoul for the twelfth consecutive year since 1999.

    Recently, the FIAC has participated in investment information sessions in New York and London, promoting its investment environment and success stories and proactively engaging in activities to help develop the City. Since last year, the group has organized four specialized advisory committees for urban competitiveness, the living environment, green growth, and women.