A press release issued yesterday:
Think London and South East England Development Agency join forces in promoting London and South East in Korea
July 18, 2007
Think London, the foreign direct investment agency for London, and SEEDA, the South East England Development Agency, announced the establishment of their joint representative office based at KOTRA in Seoul, the Korean Trade-Investment Promotion Agency. London and SEEDA’s joint representative Mr Seo Young Ho will represent London and the South East of England in an enhanced capacity, attracting and retaining high value foreign direct investment from Korea and supporting SEEDA’s Global Partner programme.
Generating a third of the UK’s total Gross Value Added (GVA), London and the South East of England have a compelling proposition for Korean companies seeking to develop their business in Europe. The region boasts over 60 universities and is home to over 150 Korean investors including Samsung, LG, Kia Motors and NCSoft.
Michael Gourlay, Think London’s Director Asia-Pacific, said: ‘This is the first time that SEEDA and Think London have appointed a joint representative and we see this as a very effective way of extending our reach in Korea. We are also delighted to be even more closely connected to our friends at KOTRA than before. SEEDA and Think London are excited about the development of this joint relationship and the opportunities that it will bring to attract enhanced levels of Korean investment to the UK.’
SEEDA Director for Inward Investment, John Rutherford, said: ‘The UK and Korea share many strengths in high technology sectors including the ICT and creative industries. The SEEDA and Think London Korean representative will promote greater trade and business collaboration in these areas. He will also demonstrate the benefits of the UK as an ideal entry point to the European market, as many existing Korean investors can attest to.’
In 2006, London and the South East of England attracted 21 percent of all Korean foreign direct investment (FDI) projects into Europe, making the region the most popular investment destination for Korean businesses in Europe in terms of FDI projects.