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The number of Korean investments in North Rhine-Westphalia is growing – 20th Annual Meeting with Korean companies in NRW

Düsseldorf. For the 20th time, the NRW Economics Ministry and the state-owned economic development agency NRW.INVEST hosted the Annual Meeting Korea in Düsseldorf. Around 25 representatives of the Korean business community in North Rhine-Westphalia took part in the event. State Secretary Dr. Günther Horzetzky, Sae-Young Kwon, Consul General of the Republic of Korea, and Petra Wassner, CEO of NRW.INVEST, welcomed the guests to the 20th anniversary of the business meeting on Tuesday evening.

"The Korean business community has a permanent place in North Rhine-Westphalia. More than 80 companies from Korea already value the location advantages of our state and have settled here. And their number is continuously increasing," said State Secretary Horzetzky.

In 2014 and 2015 alone, NRW.INVEST successfully supported 16 Korean companies with their settlement in North Rhine-Westphalia. Six of them come from the games industry in which NRW is well positioned: Every fourth game developer as well as numerous global players have their headquarters in the region, with the range extending from international conglomerates to award-winning developers. North Rhine-Westphalia is Germany's highest-grossing games location – a fact that also convinces the Korean companies in this industry.

NRW.INVEST has intensified its cooperation with Korea over the past four years. The NRW economic development agency has held various specialist forums and investor seminars there on subjects including medical technology, textile technology, production technology/ Industry 4.0 and games. Several hundred decision-makers came here to obtain information about the location, investment opportunities and settlement trends. In addition, NRW.INVEST concluded four MoUs (Memoranda of Understanding) with major Korean institutions to intensify the networking of the two states both economically and institutionally.

"Thanks to our joint efforts and the dedication of our branch office in Seoul, relations between Korea and North Rhine-Westphalia have continued to strengthen over recent years," explained NRW.INVEST CEO Petra Wassner. "The rise in the settlement figures of Korean companies, as well as the increasing investment inquiries, testify to the attractiveness of North Rhine-Westphalia."

Regular items on the agenda of the Annual Meetings are the exchange with Korean companies in NRW, the presentation of the various activities of NRW.INVEST and a debate on significant future trends and investment opportunities in North Rhine-Westphalia.