Here is some good news! Foreign direct investment in Seoul this year hit a new record, with Europe and North America leading the way.
The reported amount of FDI in Seoul for the first half of this year stood at $3,288 billion, representing an increase of 13.9% over the same period last year. Europe was the biggest investor at $1,740 billion, followed by North America at $531 million. It is noteworthy that the service sector saw a 47.2% increase in FDI year-on-year, while the amount relating to FDI in the finance and insurance sector amounted to $1,718 million.
Such good news brightens the future prospects of Seoul as an international financial city.
Business remains slow and the unemployment figures are steadily increasing. I expect that foreign investment in our city will bring about a virtuous circle effect. We at Seoul City will do our best to invigorate the economy and make Seoul a more attractive city for investors.