The Seoul Metropolitan Government announced the selection of Lee Ji-hyung as the founding chairman of the Seoul Investment Promotion Agency. Lee, who previously served as executive vice president at the Korea Trade-Investment Promotion Agency (KOTRA), brings three decades and four years of trade expertise to the position.
The Seoul Investment Promotion Agency, also referred to as "Invest Seoul," represents a pioneering initiative among South Korean local governments, focusing specifically on investment attraction and support services. Planning for the organization began the previous year, with its official opening scheduled for the month's end.
Lee's appointment followed a public selection procedure and committee endorsement. He will serve a two-year term beginning this week.
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Lee holds a bachelor's degree in English language and literature from Korea University and completed graduate studies in technology management at Stony Brook University, earning a master's degree.
Throughout his career at KOTRA, Lee established himself as a prominent trade specialist, developing comprehensive expertise in international investment promotion and cultivating an extensive global professional network.
His notable roles at KOTRA included directing the Silicon Valley branch, overseeing North American regional operations, and managing the Economic Cooperation and Trade Affairs Office.
Additionally, Lee directed the investment planning division within Invest KOREA, KOTRA's foreign investment attraction initiative. His achievements include substantial contributions to securing both international and domestic investments, with successful oversight of over 2,000 projects each year.
"At a time of domestic and global challenges, I feel a great sense of responsibility in taking on this role as the first head of a local government-led investment promotion agency," Lee said.
"I will work to help make Seoul Asia's leading global investment hub by attracting global companies and capital, and by building cooperative networks with major cities' investment agencies," Lee added.
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Invest Seoul intends to proactively address shifts in the worldwide investment landscape and enhance Seoul's competitive position through diverse programs.
This encompasses developing investment recruitment approaches tailored to Seoul, and broadening personalized assistance and investment connections for businesses. Furthermore, the organization will work to draw international companies to the metropolis while reinvigorating its financial center.
"Lee Ji-hyung is the right person to lead Seoul Investment Promotion Agency, based on his extensive experience and connections in global investment promotion," the Seoul Metropolitan Government says..
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"With his appointment and the agency's official launch, the city will provide full support and cooperation to ensure that it becomes a solid stepping stone for establishing Seoul's position as one of the world's top five investment destinations," it added.