SARIO actively supports the inflow of investments from South Korea

The investment seminar titled 'Developing your business in Slovakia' organized by the Slovak Investment and Trade Development Agency (SARIO) in cooperation with the Embassy of the Slovak Republic in Seoul and the Korean investment agency KOTRA. The investment seminar took place in Soul on April 22, 2024 with the aim of presenting the investment opportunities of the Slovak Republic to potential Korean investors. The main topic of the event, due to already existing ecosystem of Korean companies in Slovakia, was the automotive industry, complemented by automation and robotization. 

Marek Repovský, the Ambassador of the Slovak Republic in Seoul, opened the investment seminar and warmly welcomed the participants. Economic diplomat, Michal Bordean, presented the bilateral relations between the Slovak Republic and the Republic of Korea, while focusing mostly on trade and investment cooperation. 

Economic expert Ján Oravec pointed out common interests and trends in the development of both economies. Both countries resonate with the topic of population aging and the introduction of modern digital technologies. Last but not least, he highlighted Slovakia's comparative advantages as a potential new investment destination.

Michal Dutko, Consultant of the SARIO Investment Projects Department, followed with his presentation dedicated to the agenda of “foreign representatives of SARIO”. The main goal of this agenda is to attract investments with higher added value to Slovakia and to make Slovakia visible in the world as an attractive investment destination. Given the fact that South Korea is one of the most important sources of foreign direct investment for Slovakia, it is to become one of the first territories where foreign representative of SARIO will be located.

More than 30 representatives of Korean companies participated in the investment seminar. Consultants of the SARIO Investment Projects Department, Romana Kunková and Kristína Krajčírová, used this opportunity to present not only the business environment in Slovakia and detailed information on the above-mentioned sectors, but also the ecosystem of successfully established Korean companies in Slovakia, investment incentives and other support mechanisms from the state or the services of the SARIO agency.

An invaluable part of the event was the presentation of Samsung Electronics represented by Wonjong Lee and Taeyoung Park from the Public Affairs Department. Samsung Electronics has been operating in Slovakia for more than 20 years and currently employs over 1,200 people. It is primarily engaged in the production of LCD televisions, monitors and LCM modules. The annual increase in sales and production volume has placed Samsung among the key players in economic development in Slovakia. This plant is Samsung's largest production plant in Europe.

The participants of the investment seminar had the opportunity to get a comprehensive overview of investment opportunities in Slovakia and to establish new contacts during networking in the premises of the Slovak Embassy in Seoul, where the event itself took place.

In addition to the investment seminar, Romana Kunková, Kristína Krajčírová and Michal Dutko also participated in the "Automotive World Korea" trade fair, where they established contact with other potential investors, to whom they communicated the main advantages of investing in Slovakia and presented the possibilities of assistance from SARIO.

Last but not least, SARIO consultants together with the economic diplomat Michal Bordean visited 2 companies that are currently considering the expansion of their operations to Europe. The aim of both meetings was to present Slovakia as a suitable destination for future investment and thus get shortlisted alongside other European countries.