[NEWS] nTels was recognized for its contribution to the domestic market

Ministry of Commerce, Industry and Energy (MCIE) and the Korea Foreign Company Associates (KOFA) recognized individuals and institutions for making substantial contributions to attract foreign investment at the COEX, Samsung-dong, Gangnam-gu, Seoul. The survey conducted on 1000 male and female adults nationwide by MCIE and the KOFA to mark the annual foreign company day, has indicated that 74% of those surveyed are acknowledging that foreign companies have contributed to the national economic development compared to 70% last year. 84% of respondents predicted that foreign companies’ roles in the local economy would increase further more. And 67%, 6 % higher than last year, answered that the Korean government’s support for foreign companies is poorer than for domestic counterparts. And the difficulties faced by foreign companies are named as the government regulation, social and cultural differences and the negative public perception. Those who were recognized for the occasion are as follows:

Medal of Industry: Yoo Eui-jin, Managing director of Samsung SDI; Michael S. Bishop, CEO of PCA Life Insurance; Ahn Byung –joon, CEO of Ceratech; Hwangbo Yong, Managing director of Carrefour Korea; Joan Baron, CEO of Telsk; Jung Sung-hee, Managing director of Alcoa Korea; and Nakamoto Masami, Chairman of Dongwoo Fine-Chem.

Presidential Badge: Lee Geun-il, Mdohmen Korea; Shim Jae-hee, nTels; Kim Sun-wook, Ness Display; Frank Schtener, BMW Financial Service Korea; Araki Toshihiro, ARRK Corporation (Korea); and Park Dae-yong, TG Ubase (all are CEOs).

Updated date: 2002/12/08
Reporter, Ku Ja-ryong, bonhong@donga.com