Meet Hank Ahn of INVEST KOREA
Meet Hank Ahn of INVEST KOREA
  • Chun Go-eun
  • 승인 2010.06.11 08:41
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A leader who took off his shoes at the workshop

Invest Korea Plaza

As the police officer in the movie Home Alone 2: Lost in New York simply stated to a mother who lost her child, "finding a blonde haired boy in the city of New York is as hard as looking for a needle in a haystack."  The newly elected Head of INVEST KOREA at KOTRA, Hank Ahn, portrays this scene at the workshop and continues, "Then the officer advises the desperate looking mother to put herself in his shoes. For foreign investors, searching for a good country to invest is a challenge. If we desire to attract foreign investors, we must first put ourselves in our foreign investors' shoes." Korea IT Times interviewed Hank Ahn, a newly appointed Head of INVEST KOREA, to report what's freshly in the bag for foreign investors.

One-Stop service, Red Carpet Service, and Investor-oriented Service = Investors' Shoes

Since the day Hank Ahn was appointed as the new leader, three months ago, he has been emphasizing the importance of "heart-moving services" to foreign investors. Many things have changed already. For the convenience of foreign investors, Invest Korea staff including Hank will move into the Invest Korea Plaza building. This will promote the One-Stop Service for the foreign investors who pay a visit to KOTRA.

For the sake of professional service, INVEST KOREA has split the finance industry investment promotion team and service industry investment promotion team. Next month the FDI Policy Research Center is to be inaugurated with a proper ceremony and a themed seminar.

"We will also start the Red Carpet Service project to provide a high class service to our visitors. The true meaning of service must be conveyed through our hearts. Our President has just granted us the ability to purchase a top class car to accommodate foreign investors. The car is actually better than what the President drives. From arrival to departure, we are able to give a service that is extra special," Hank added.

One-Stop Service in scope

"The whole idea of One-Stop service originated to assist with foreign investors' convenience and efficiency of services delivered. From pre-consulting to aftercare, INVEST KOREA and 39 Korea Business Centers (KBC) ensure speedy and reliable service through the One-Stop service system. We also provide one-to-one communication between an investor and a project manager for in-depth support. This goes the same for potential investors. KOTRA has always been available for various investment meetings and matchmaking. One-Stop service secures the quality of service as much as the availability from the day an investor walks in for a simple consultation. We weigh aftercare service as important as pre-consulting. We provide suitable solutions for any type of errors that may occur after the investment."

Hank Ahn, Head of INVEST KOREA

What does the current investment record suggest about the future economy and investments of Korea

"Recently Foreign Direct Investment decreased slightly from 11.7 billion $  to 11.5 billion $ due to the global recession. The recent news of the financial crisis in Southern Europe and won depreciation are not exactly hopeful messages. But I've also met many investors who noted the resilience of Korean economy. After a quarter-long financial crisis, our economy has been gradually recovering.  We expect to host G20 later this year in Seoul to light up the darkness. We have also received an increased credit rating by Moody's Investor's Service. The FDI of 2010 is aimed at 13 billion $.

Out of many other emerging countries in Asia, what distinguishes Korea

"The most charming factor about Korea would be the geographic location. Korea is a gateway to Northeast Asia. Our neighboring countries are Russia, Japan, and China, which all are reachable within a few hours of flight. The Korean economy is dynamic and its people are innovative. Korea ranked the first in the Global Innovation Index in 2009 Korea has strong IT infrastructure with a well-educated talent pool. The Korean zeal for education is very strong. A higher number of Korean students are studying abroad than any other countries' in the world, including China. Well educated and trained manpower with a strong work ethic is a big asset to the country and investors."

Developed countries have currently shown a lot of interest exclusively in conventionally major industries. What is your strategy on this note

"We are trying to diversify investment sources through a cluster approach. As a great example, we just launched China Desk in May. Along with China, our focus is on Middle East and the other emerging markets to attract investors. We expect to meet investors in finance and service areas as well. As I briefly mentioned before, we divided the finance service team into a finance team and service team. They are to specify their focus when meeting investors."

"We expect to fully collaborate with the Korean government. The Free Economic Zone in Songdo City is now opening arms to local companies from many different sectors. Strong domestic companies must be on site for global companies to relate to their business and join. All it takes to motivate an international paper company to build a factory in China is a residence of a global cigarette company in the zone. We must provide a supply chain for global companies to invest in our country. The Korean government has taken note on tax benefits for foreign investors. We believe that the government's continuous back up in this policy will help to encourage investment."

What's in INVEST KOREA's agenda  to Meet New Investors in the future

"We plan to have several IRs in upcoming months with the cooperation of central government, local government and market players. The Global Alliance Project Series is organized to link global companies to local companies. Qualcomm, GE and Solvay launched GAPS venture initiatives in Korea. New growth engine sectors of more global companies are expected to join this year."

"In November, the annual Foreign Investment Forum (FIF) will be held. Many surprising factors are being planned.  The forum is to be held with a cultural event for the first time in FIF history."


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