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29 June 2017

PAIH & KOTRA develop strategic partnership

On June 29, the Polish Investment and Trade Agency signed a cooperation agreement with the South Korean Investment Agency (KOTRA). South Korea is the largest non-European investor supported by PAIH. It is also the second biggest investment partner of Poland from outside Europe.

„Not only do we cooperate with South Korea and KOTRA, but we have a strategic partnership that shapes our bilateral relations”, said Tomasz Pisula, PAIH president before the ceremony of signing the agreement with KOTRA. “It is a great honour for Poland that South Korea has chosen Poland as its main trading and investment partner in Central Europe," he added.



Tomasz Pisula: We have a strategic partnership that shapes our bilateral relations


Korea Trade Investment Promotion Agency (KOTRA) has been a partner of its Polish counterpart for many years. However, after the transformation of the Polish Information and Foreign Investment Agency into the Polish Investment and Trade Agency at the beginning of 2017, both parties decided to renew official relations and to increase the scope of cooperation. As previously, both agencies will support each other in servicing investors from the two countries. From this moment, PAIH and KOTRA will strength their cooperation in supporting trade between Poland and South Korea. To fulfil those goals, they will also  exchange business information as well as intensify cooperation in arranging events and investment & trade missions.



PAIH and KOTRA renewed cooperation agreement to increase the scope of cooperation


During the MoU signing ceremony, PAIH president Tomasz Pisula announced that PAIH is planning to open the its foreign trade office in Seoul next year to support the two way traffic in trade and investment.



KOTRA will support PAIH in the establishment of the Agency's office in Seoul


"The South Korean business is a quick decision maker when it comes  to FDI. It’s also known from setting clusters in Poland”, Pisula said. According to the latest NBP data, the cumulative value of Korean FDI in Poland amounted to EUR 833.9m in 2015. Most of the Korean capital has been invested in technologically advanced electronics, household appliances and automotive sectors. Over the past 15 years, PAIH has serviced 48 South Korean projects worth a total of EUR1.8 bn. One of the latest investment is the LG Chem project, worth over EUR 315m. The giant from Korea has located its factory of innovative batteries for electric cars in Kobierzyce. (PAIH)


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