Invest News DetailThe Investment Support and Promotion Agency of Turkey (ISPAT) took part in this year’s Korea Overseas Investment Fair (KOIF) held in the South Korean capital of Seoul on May 28-29. Organized by Korea Trade-Investment Promotion Agency (KOTRA), the fair brought together 40 national and regional investment promotion agencies from all over the world to present their investment opportunities to an international business community of some 1000 representatives from 700 companies. The trade fair attracted high-level visitors from various South Korean ministries and foreign diplomatic missions, including Turkey’s Ambassador to Seoul, Naci Saribas. Participating in KOIF 2013 with Korean-speaking staff, ISPAT staged a seminar at its stand to brief attendees on Turkey’s investment climate, incentives and business opportunities. Turkey’s national investment promotion agency also signed a Memorandum of Understanding (MoU) with KOTRA to improve cooperation between the two agencies and collaborate on forming closer business ties between Turkey and South Korea. A free trade agreement exists between the two nations, whose bilateral trade reached USD 7 billion in 2012. Over 200 South Korean companies, including Hyundai and POSCO, are active in Turkey.