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  • Global investors to discuss how to make Seoul a global testbed city

  • Press Releases SMG 392
    • The Foreign Investment Advisory Council (FIAC) meeting to be held on May 17 with foreign-invested companies’ CEOs, consultants and other experts attending
    • Barbara Zollmann, the President and CEO of the Korean-German Chamber of Commerce and Industry and Veronica Koon, the Chairwoman of the Seoul International Women’s Association to be appointed as new members
    • FIAC to give practical advice to make Seoul a global innovation hub and to strengthen Seoul’s global competitiveness

    SEOUL, SOUTH KOREA, May 17, 2019 — The Seoul Metropolitan Government announced that it will hold the Foreign Investment Advisory Council (FIAC) meeting on May 17 at the Westin Chosun Hotel. Foreign-invested companies’ CEOs, consultants, lawyers and other experts in various fields are expected to attend the meeting.

    Established in 1999, FIAC is an advisory body for the Seoul Metropolitan Government to encourage foreign investment and contribute to the city’s development. Since its establishment, FIAC has a total of 49 meetings and its members gave Seoul insightful advice on how to attract international investment and how to create the startup ecosystem for the city. Some of the topics they discussed include how to become a global financial hub, how to attract global regional headquarters into Seoul, how to promote foreign investment in Magok district, how to activate the Digital Media City (DMC), and how to become one of the global top five cities for startups.

    This year’s meeting will be consulted by 15 global investment experts on “Seoul, a testbed city” and “Seoul’s global challenges,” which are being implemented by the Seoul Metropolitan Government to boost Seoul’s status as an innovative city and help innovative companies grow. The Seoul Metropolitan Government believes that becoming a “global testbed city” where innovative companies and talented people gather and dare to take challenges is essential to be achieved in the era of global unlimited competition. FIAC Chairman Eric Hoffman will make a presentation on this topic first and then other members will have discussions and make consultations.

    Prior to the opening of the meeting, Michael Breen, the CEO of Insight Communications, will have an appointment ceremony for Barbara Zollmann, the President and CEO of the Korean-German Chamber of Commerce and Industry (KGCCI) and Veronica Koon, the Chairwoman of the Seoul International Women’s Association (SIWA Korea). The city government invites new members if some of the FIAC members changed his/her position or organization, or their term is expired.

    A city official said, “FIAC members are those who have lived in Seoul for a long time and also have great prospects for global economy and management. So we will ask them for practical advice to make Seoul a global innovation hub and reflect it to strengthen Seoul’s global competitiveness.”