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The Seoul Investment Promotion Foundation, a dedicated body for attracting foreign investment to Seoul, announced on the 1st that it signed a memorandum of understanding with Seraya Partners, a Singapore-based global infrastructure investment firm, to expand investments in Seoul.
Seraya Partners is a specialized investment firm investing in next-generation infrastructure in Asia, with digital infrastructure and energy transition as its key investment areas. It invests in infrastructure assets and platforms that possess long-term growth potential and stable cash flows in major Asian markets.
The agreement was signed locally in Singapore on the 30th of last month. Seraya Partners will identify and review potential investment opportunities worth $500 million (approximately 700 billion won) in Seoul over the next three years, and pursue investments in promising projects.
Seraya Partners has been expanding its business base in Korea by investing in domestic renewable energy sectors among others. Leveraging this agreement, the firm will use Seoul as a hub for domestic investment and business expansion, while also pursuing the establishment of additional legal entities and the recruitment of specialized personnel.
The roles to be undertaken by Seraya Partners include △identifying investment projects and business opportunities in Seoul, △reviewing investment opportunities in future growth areas such as next-generation infrastructure and renewable energy, and △expanding the domestic operations of existing and new portfolio companies in Seoul.
The Seoul Investment Promotion Foundation will provide support including △linking with the discovery of promising investment projects and companies, △providing information and networks necessary for business and investment expansion, △connecting to Seoul's financial and investment ecosystem, △assisting with administrative procedures related to investment, and △linking incentives and corporate support programs upon investment and employment.
A representative from the Seoul Investment Promotion Foundation stated, "We will connect Seraya Partners' Asian investment network with Seoul's industrial and corporate ecosystems to discover new investment projects and business opportunities," adding, "We will also support the entry into Seoul and business expansion of existing and new portfolio companies."
The Seoul Investment Promotion Foundation has operated a customized one-stop support system that covers everything from identifying investment projects to market entry, legal entity establishment, administrative procedures, linking financial and industrial networks, and incentives and corporate support programs, in order to help global companies and investors enter Seoul.
Lee Ji-hyung, Lee (President) of the Seoul Investment Promotion Foundation, emphasized, "We will provide practical support from global investors' entry into Seoul to business expansion and follow-on investments, and connect investments and corporate growth in next-generation infrastructure and energy transition sectors as new opportunities for Seoul."
James Chern, Managing Partner and Chief Investment Officer (CIO) of Seraya Partners, stated, "Korea is a significant market equipped with technology, talent, advanced industries, and innovation capabilities, and Seoul serves as a key gateway connecting to investment opportunities across Korea."
He added, "We will connect our Asian network and infrastructure investment expertise to the Seoul and Korean markets, discover new investment opportunities in next-generation infrastructure and energy transition sectors, and support the business expansion and growth of portfolio companies within Seoul."
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