Gov't organizes investment gatherings in Germany

SEOUL, Nov. 11 (Yonhap) -- The government said Wednesday that it has organized
several business fairs in Germany aimed at attracting investment in the green
energy sector.
The events to be held in Nurenburg and Stuttgart on Wednesday and Thursday aim to
invite German components and industrial materials manufacturers to consider South
Korea as their future manufacturing base, the Ministry of Knowledge Economy said.
It said German companies enjoy world-class competitiveness in green energy areas,
while Seoul is in the process of investing large sums of money to introduce new
technologies that can help the country use less energy and reduce waste.
"Investment could allow German companies to benefit from demand created by
Seoul's plan to strengthen the green industry sector," an official said.
He said that attracting German business investment could also reduce South
Korea's dependence on Japanese parts and components.
Hyundai Motor Co. and business organizations such as Korea Association of
Machinery Industry and Korea Trade-Investment Promotion Agency will take part in
the meetings along representatives from six regional governments such as Gumi and
Pohang.
Germany is the world's fifth largest overseas investor with its companies having
poured US$156 billion abroad in 2008. Companies like Siemens, Bosch, BASF and
Henkel already operate plants in South Korea.
yonngong@yna.co.kr
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