Invest KOREA
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| government agency | |
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Key people
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Yong-kook Kim, Head |
| Products | foreign direct investment support |
| Website | www.investkorea.org |
Invest KOREA (IK), Korea's national investment promotion agency, was established as part of the Korea Trade-Investment Promotion Agency (KOTRA) to support the entry and establishment of foreign businesses in South Korea by providing comprehensive services to foreign businesses, including consultations, assistance with investment and corporate establishments, support for business activities in Korea and grievance resolution.
Invest KOREA's predecessor, the Korea Investment Service Center (KISC) was established in 1998 in the wake of the 1997 Asian financial crisis as part of the liberalization of the Korean investment regime.
Invest KOREA aims to provide a one-stop service that covers pre-investment consultation, investment execution and post-investment processes.
Based in the Invest KOREA headquarters in Seoul, the head of Invest KOREA is supported by staff members who are KOTRA employees, recruited specialists in investment-related fields, and civil servants seconded from other agencies and ministries, including the Ministry of Trade, Industry and Energy under whose umbrella Invest KOREA falls. Invest KOREA works in collaboration with its network of 39 overseas branch offices called Korea Business Centers, which are located in the financial and industrial centers of the world. Invest KOREA implements government policies on foreign investment that have been formulated by the Ministry of Trade, Industry and Energy and coordinated by the Foreign Investment Committee.
Invest KOREA takes a three-pronged approach to attracting foreign investment:
The Investment Consulting Center (ICC) provides tailored consulting services free of charge to foreigners who wish to invest in Korea. The services include pre-investment market research, administrative support, and settlement assistance for establishing businesses in Korea. The center is staffed by 20 consultants, who are private-sector experts including accountants, lawyers and labor lawyers and civil servants with experiences in sectors including visa, tax, customs and environment.
At the ICC, investors can receive one-on-one consultations on taxation, accounting, and law in the beginning of an investment, and receive administrative assistance directly from government officials for visa application, certification of investment completion and business registration. The center also provides personalized life settlement consultations and one-day, on-site assistance to help investors settle successfully in Korea.
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Wikipedia