Newsnomics AJAY ANGELINA reporter | South Korean President Yoon Seok-yeol attended the Korea invest ment report by Vestas, the world's number one wind turbine manufacturer.
Vestas, announced to invest $3 billion in Korea and ignite Korea's core innovation center in the Atae region through the transfer of the Atae region according to the report.
President Kim emphasized that, “Korea has leaped into the Atae region wind power manufacturing hub and
discovered new export dynamics through Vestas' investment and the relocation of the Atae region headquarters.”
“The government will actively support Vestas to contribute to domestic industrial development through successful implementation of investments.” He added
President Yoon, on his second day of visit to Switzerland, attended a luncheon with the global CEO and discussed various global issues such as supply chain stability, digital transformation, and climate change.
Six major Korean companies Samsung, SK, Hyundai, LG, Lotte and Hanwha has joined the luncheon. Fifteen CEOs from foreign companies, including Intel, IBM, Qualcomm, Shell, JP Morgan, Mubadala Investment Co., Blackstone and Hitachi, also attended.
President Yoon said, “the solidarity and cooperation between the state and businesses are desperately needed to resolve the recent complex crisis.”
He stressed, “the companies should solve global problems through technological innovation, and the government should spare no support to promote technological innovation in the private sector.
In addition, he asked global CEOs to expand their investment in Korea and support the 2030 Busan World Expo, saying that Korea will become a world-class innovation hub.
Later, Yoon held a “Korea Night” event at a hotel to promote the bid for the 2030 Busan Expo, inviting foreign political and business figures.
The event was attended by Philippine President Ferdinand Marcos Jr., Serbian President Aleksandar Vucic, Klaus Schwab, founder and executive chairman of the World Economic Forum, Cisco Chairman Chuck Robbins, New York Times Chairman Arthur Gregg Sulzberger, Grab CEO Anthony Tan and McKinsey & Co. CEO Bob Sternfels.
Yoon in his opening remarks introduced Busan as “an international industrial and cultural convergence city” with the world's second-largest hub port and where Asia's largest international film festival is held every year.
"We will promote the ‘Busan Initiative,' a customized international cooperation program based on the needs of each country, utilizing the characteristics of Busan," he said.
Yoon said, “Currently, we are facing challenges that cannot be resolved through the efforts of one country alone,” referring to complex crises and uncertainties in the global economy, geopolitical conflicts, the climate crisis, and polarization.
On Thursday January 19, the president will also give a special address at the Davos forum, presenting ideas for international cooperation and solidarity in strengthening supply chains, the transition to clean energy and the construction of a digital order, while also outlining Korea's role and commitment to achieving those goals.
