Attracting Foreign Funds from 7 Million Korean Entrepreneurs Abroad

“Campaign to attract foreign currency deposits from 7 million Koreans living abroad will officially begin,” stated the Overseas Koreans Foundation President Kwon young-kon during a press conference held at the ICC Jeju on October 27, a day before the 7th World Korean Business Convention is kicked off.

He continued,” Not only are 1,200 Korean entrepreneurs participating in this year’s convention but entrepreneurial executives in 40 nations around the world will also be partaking in the global campaign.”

Like the precedence of ten years prior when Koreans in Japan had remitted $1.2 billion to Korean by opening a bank account per person, overseas Koreans are seeking to make contributions to resolve the foreign exchange market’s insecurity by funding foreign currency deposits.

Head of the World Korean Business Convention Seung Eu-ho explained, “The dollar exchange rate has soared and interest rates for dollar deposits are high. It will be easy to collect billions of dollars when requesting powerful institutes. “Head of CEO Suite, Kim Eun-mi, who joined the conference to represent women entrepreneurs said, “A significant sector of the economic instability is due to psychological fears, much being exaggerated and distorted. I wish that a seed of hope can be sowed through this opportunity to help Korea as much as possible.”

The 7th World Korean Business Convention will be launched at the ICC Jeju from today for three days. This year’s convention boasted a record-breaking pre-registration with 2,944 participants from 35 nations completing early bird registrations. Especially with the economics instability reaching its peak, various measures will be discussed by Korean entrepreneurs during this year’s convention to rescue Korea from its economic crisis.

By. Dong-eun Lee/ JYJ
Reporter, Hansang
Tuesday, 28 October 2008