Foreign Company Day highlights contributions to Korea’s industrial growth as S-Oil CEO receives Gold Tower honor
Forty foreign-invested executives receive government awards as MOTIE vows to make Korea the most trusted investment partner
Korea reaffirmed its commitment to creating a globally competitive investment environment as foreign enterprises and executives were formally recognized for their contributions to national economic growth. The Ministry of Trade, Industry and Energy (MOTIE) hosted the 2025 Foreign Company Day ceremony on the 13th at the InterContinental Seoul, bringing together foreign chambers of commerce, diplomatic envoys and business leaders.
During his remarks, Minister Kim Jeong-gwan emphasized the vital role foreign direct investment has played in Korea’s industrial development over the years. “Foreign-invested companies have long been indispensable partners in Korea’s economic progress,” he said. “We will continue to build a trustworthy and attractive investment environment so that global companies can thrive and grow here.”
The highest recognition of the ceremony, the Gold Tower Order of Industrial Service Merit, was awarded to Anwar Al-Hejazi, CEO of S-Oil, one of Korea’s largest foreign-invested companies. S-Oil has continuously expanded investment in high-value petrochemical and energy sectors, contributing significantly to Korea’s industrial competitiveness and energy transformation.
The Silver Tower Order went to Noh Sung, Senior Vice President of onsemi Korea, a global leader in silicon carbide (SiC) and power semiconductor technologies. The company is actively expanding its domestic footprint as demand for advanced semiconductor components grows in future mobility and power electronics sectors.
MOTIE stated that it will deepen policy support aimed at strengthening Korea’s industrial capabilities and boosting foreign direct investment. The ministry emphasized that it will enhance regulatory reforms, respond to on-site business challenges more effectively and ensure Korea remains a top choice for global investors.
This year’s Foreign Company Day provided a platform for constructive dialogue on investment strategies, cooperation opportunities and policy improvements, marking another step toward positioning Korea as a premier global business hub.