Pres. Lee to Draw Foreign Investment during U.S. Visit

On his visit to the U.S. in April, President Lee Myung-bak will attend an investor relations session to attract investment to South Korea. He will also give a presentation on the economic status of South Korea and explain his future policy directions.

“It is significant that the president of South Korea’s new government, which puts equal importance on economic revitalization, and diplomacy and security coordination, such as enhancing the Korea-U.S. alliance, is promoting the value of South Korea as an investment target for foreigners,” said a government official. “I heard that revisions are being made from various perspectives as to what the presentation will look like.”

“There are cases where former presidents visited other countries and signed an MOU or gave a lecture on relevant issues, but this is the first time that a CEO-turned president will hold the microphone and explain Korea’s economic status and future outlook,” added the official. “It’s like having a sort of Korea road show.”

The Federation of Korean Industries is also promoting joint investment relations sessions, together with the Ministry of Knowledge-based Economy, as President Lee visits New York and other cities in the U.S.

“Cheong Wa Dae has not made specific requests for participation yet,” said a Cheong Wa Dae official. “The president’s schedule will be presented to the U.S. and will undergo an approval process.”

swpark@donga.com