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The 45th Foreign Investment Advisory Council Friday, November 21,2014

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撰写者 Invest Seoul 日期20-01-07 11:19


Introduction of FIAC

The Foreign Investment Advisory Council (FIAC) was established in March 1999 with a vision to make Seoul a regional business center, Members of FIAC, who are representatives of major foreign chambers of commerce in Korea, country representatives and senior professionals of various industries from financial services and manufacturing to consulting and logistics, serve on FIAC at the invitation of the mayor of Seoul.

The FIAC serves as a sounding board to the Seoul Metropolitan Government (SMG) providing feedback and advice on foreign investment policies. It also functions as a bridge connecting the foreign business community in Seoul to SMG and as a PR ambassador promoting the image of Seoul City as an attractive investment destination.

Since its establishment, the FIAC has made valuable contributions ranging from advising on municipal intiatives and enhancing the image of Seoul in the eyes of foreign investors to create the Seoul Town Meeting for better quality of living for expatriates in Seoul.

As the representatives of the expatriate business community, the members of FIAC have contributed to building the long-term vision of Seoul as an ideal business destination in Asia. From advising on major foreign investment projects to improving Seoul’s image to the outside world, contributions of the FIAC have come in various forms.

Sharing the view that there is a considerable discrepancy between the perception and the reality of doing business and living in Seoul, the FIAC has focused its activities on reducing such a gap and promoting the image of the City. The FIAC members participated in various promotional events for Seoul and as foreign investors for themselves; they have voluntarily provide SMG with in-depth advisory support giving their candid vies of what should be improved to attract foreign investors.

The FIAC has also helped the city government understand the importance of good quality of living for expatriates in attracting foreign investment by suggesting the idea of holding the Seoul Town Meeting. This meeting opened the eyes of city officials to the issues of expatriates’ concerns, and resulted in setting up the Seoul Global Center, a comprehensive support center for foreign residents in Seoul and facilitating other initiatives to make Seoul a better place to live