Yoon calls himself Korea Inc.'s 'No. 1 salesperson'

President Yoon Suk Yeol shakes hands with Vestas CEO Henrik Andersen during a ceremony to celebrate the Danish company's investment in Korea at a hotel in Davos, Switzerland, Wednesday (local time). Yonhap

By Nam Hyun-woo

DAVOS ― President Yoon Suk Yeol has been striving to attract foreign companies' investments and partnerships with Korean companies during his attendance at the World Economic Forum (WEF) in Davos, Switzerland, calling himself Korea's "No. 1 salesperson."

"I am the No. 1 salesman of Korea, and as a salesperson, I hosted today's luncheon in order to offer a good meal to global CEOs," Yoon said during a luncheon with top government officials from Seoul, CEOs of global companies and Korean conglomerate heads on the sidelines of the forum, Wednesday (local time).

The luncheon was held as part of Yoon's belief that Korea can find a breakthrough in the current economic headwinds by focusing on exports and foreign companies' investments in Korea. It was a rare case of not only the heads of Korean conglomerates but also CEOs of some of the world's leading companies joining and discussing cooperation.

This is not the first time that Yoon has described himself as a salesman for Korea. During a separate dinner with Korean CEOs in the United Arab Emirates (UAE) on Monday, Yoon said, "Public officials should always have the mindset of providing service to businesses," and, "I also consider myself as a staff member in the marketing or planning department of a company."

This approach by the president drew favorable responses. According to the presidential office, participants in Wednesday's luncheon had conversations in a casual atmosphere, while sharing their experience of running businesses in Korea or partnering with Korean companies, as well as exchanging ideas on combating common crises that the world is facing.

"I believe Korea is one of the most business-friendly countries in the world," Blackstone Chairman Stephen Schwarzman was quoted by senior presidential secretary for public relations Kim Eun-hye. "President Yoon is a great salesman whose salesmanship outshines ours."

Qualcomm President Cristiano Amon said Korean companies have shown true innovation during the over 30 years of Qualcomm operating in Korea, and he wants to "cooperate with Korea for the next 30 years as a long-term partner," citing Korea's resilient and solid supply chain.

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During the luncheon, Air Liquide Chairman Benoit Potier asked about Yoon's ideas for overcoming the current comprehensive crisis, and Yoon responded that the United Nations system, multilateralism and free trade are the answers.

Yoon's aggressive sales pitches during this diplomatic trip have brought tangible outcomes.

Earlier this week, the UAE announced it will invest $30 billion in Korean companies as part of its expression of trust in Korea during Yoon's state visit to the Middle Eastern country, while 43 MOUs were signed between the private and public sectors of the two countries.

In Switzerland, Korea has attracted a $300-million investment from Vestas, a Danish wind turbine manufacturer. Merck Life Science and Novartis also expressed intentions to make a combined $500 million in investments in Korea.

President Yoon Suk Yeol bows to participants of the Korea Night 2023 event held in a hotel in Davos, Switzerland, Wednesday (local time). Yonhap

After meeting the CEOs of global companies, Yoon attended the WEF Korea Night 2023 event, which was held on the sidelines of the forum on Wednesday night. It was a gathering of national leaders and business tycoons from across the world. There, Yoon promised Korea's participation and to take responsibility in international efforts to resolve common problems that the world is facing by hosting World Expo 2030 in Busan.

"Korea wants to fulfill its responsibility and role in the international community by holding Expo 2030," Yoon said.

"Busan is an international industrial and cultural city, which has the world's second-largest transshipment hub and at the same time holds the largest movie festival in Asia every year. Based on this characteristic, we will pursue an international cooperation program tailored to each country's demands, called the 'Busan Initiative,'" he said.

The Korea Night event was attended by Philippines President Ferdinand Marcos Jr., Serbia President Aleksandar Vucic, WEF Executive Chairman Klaus Schwab, Cisco Chair Chuck Robbins, Grab CEO Anthony Tan, Bob Sternfels, Global Managing Partner of McKinsey & Company and other leaders of global companies.

From Korea, Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chairman Chung Euisun, LG Group Chairman Koo Kwang-mo, Lotte Group Chairman Shin Dong-bin and other conglomerate leaders joined the event.