S. Korea to host fair to lure foreign investment

SEOUL, Nov. 2 (Yonhap) -- South Korea's government trade agency said Monday it
will hold a fair this week to lure more foreign direct investment, with 164
foreign firms from 16 nations slated to attend.
The "2009 Foreign Investment Forum" will be held from Wednesday to Saturday at a
hotel in Seoul, said the Korea Trade and Investment Promotion Agency, the event's
organizer.
"Competition on trade and investment among nations is expected to heat up next
year," Cho Hwan-eik, head of the agency, told reporters.
During the four-day event, Celgard LLC, a U.S. maker of micro-porous separators
used in lithium-ion batteries, will sign a memorandum of understanding with South
Korea's Ministry of Knowledge Economy to spend US$100 million to upgrade its
facilities in South Korea, according to the agency.
With the nation's economy showing signs of a moderate recovery, foreign direct
investment in South Korea rose 17 percent from a year ago to $3.38 billion in the
third quarter of this year, the ministry said last month.
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