Invest Seoul Hosts Successful Roadshow in Singapore, Facilitating Global Business Expansion into Seoul

Invest Seoul operated ran a highly successful roadshow, “Seoul Forward-Your Next Business Destination,” in Singapore, marking a significant milestone in the initiative aimed at attracting global companies to establish their presence in the vibrant city of Seoul.

Collaborating with the city of Seoul and key hub cities in Asia such as Hong Kong and Singapore, the event held on November 14, 2023, garnered substantial interest and participation from both companies and individuals alike.

A total of 88 companies demonstrated keen interest in entering the Seoul market, with 130 individuals, including representatives from Enterprise Singapore, actively engaging in the event.

The highlight of the roadshow was the signing of memoranda of understanding (MOUs) between three prominent companies—SkyArk Chronicles Holdings Pte Ltd, Mioying Financial Technology (HK) Ltd, and Virtual TKD PTE LTD (VTKD)—and Invest Seoul and Singapore. These agreements aim to facilitate the seamless entry of these companies into the Seoul market by fostering mutual information sharing and cooperation.

The event featured a lineup of distinguished speakers who provided valuable insights into Seoul’s business landscape and investment environment. Professor Roh Sung-jong from Singapore Management University shed light on Seoul’s innovative business environment, emphasizing the importance for overseas companies to establish a presence in the city. Andre Chong, Vice-President of JustCo, shared practical business experiences of companies already operating in Seoul, offering invaluable guidance to prospective entrants.

Invest Seoul Center Director Gu Bon-hi elucidated on Seoul’s robust business ecosystem, emphasizing the city’s cluster advantages and the comprehensive support provided by Invest Seoul to facilitate foreign direct investment (FDI). Furthermore, dedicated sessions were conducted to provide essential information on legal procedures and regulations, tax systems, and accounting practices pertinent to establishing a business in Seoul.

A highlight of the event was the provision of specialized 1:1 expert consultations in legal, accounting, and foreign exchange, catering to the specific needs of companies interested in entering the Seoul market. A total of 21 companies availed themselves of 24 sessions of these consultations, further enhancing their understanding and preparedness for market entry.

Building upon the success of the Singapore roadshow, Invest Seoul is poised to offer online consultations to address additional consulting demands and support foreign direct investment for companies that have signed MOUs. The agency aims to encourage market entry applications and Seoul expansion for companies that have submitted Letters of Intent (LOIs), focusing on proactive promotion and aggressive attraction activities to facilitate the entry of global companies from key Asian cities into Seoul.

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