Nearly one out of four multinational firms in Korea consider the energy and green industries the most investment - worthy sectors , an industry survey found yesterday . It also showed that the country lagged behind Singapore and Hong Kong in terms of overall investment environment . The energy and environmentally friendly industries were chosen as Korea ` s most valuable investment sectors by 23 . 4 percent of the 500 surveyed foreign firms by the Korea Chamber of Commerce and Industry . The polled firms included 145 large businesses and 341 small and medium - sized enterprises , together representing 80 percent of the foreign direct investors in Asia ` s fourth - largest economy . " The latest survey results indicate that our government ` s strong commitment to the green industry and its drive to push forward relevant policies have drawn great interest of foreign investors , " the KCCI , one of the country ` s most influential business lobby groups , said in a statement . " Korean companies ` high interest in energy and environment issues is another reason for attracting the interest of foreign firms , " it added . Following the two sectors were the semiconductor industry with 18 . 1 percent , information communications with 12 . 2 percent , pharmaceuticals and bio with 12 . 1 percent , display with 10 . 9 percent , and then automobiles with 10 . 9 percent . In terms of investment climate and foreign - investor - friendly conditions , the poll found that Korea lagged behind its regional competitors - Singapore , Hong Kong and Taiwan . On a five - point scale , the polled foreign firms gave Korea 2 . 84 points , while Singapore received 3 . 79 points , Hong Kong 3 . 62 points and Taiwan 3 . 19 points . China lagged behind Korea with 2 . 74 points . With respect to investment infrastructure , the respondents gave Korea ` s information - technologies system four points out of a total of five , garnering the highest score among the other considered areas . Human resources then followed with 3 . 61 points . The survey , however , underscored that profitability from investments came out comparatively low with 2 . 98 points . To attract more foreign investors to Korea , most of the respondents advised that offering better tax incentives would be the most effective strategy . As many as 48 . 7 percent said reducing corporate taxes and beefing up tax incentives would be the most effective means . Providing land space to operate plants , as well as support for establishing an industrial location were cited by 23 . 4 percent . Another 15 . 1 percent cited offering subsidies and financial support . On the global investment climate outlook for 2009 , the multinational firms generally held a positive view . While 44 . 7 percent of respondents said they expect the investment conditions by the end of this year to be similar as the current state , 32 . 5 percent projected " an improvement . Another 22 . 8 percent cited a " worse " outlook . " As much as the energy and green industries have emerged as the new economic growth drivers , we will continue to make efforts to improve the country ` s business environment , such as by seeking for deregulation and stabilizing labor - management relations , " the KCCI said . Finance Minister Yoon Jeung - hyun , during a meeting organized last month by the European Union Chamber of Commerce in Korea , assured that Korea is making efforts to create a foreign - business - friendly environment by providing more incentives . The minister stressed that foreign direct investments play a vital role in spurring economic growth . He noted the need for much more to be done to make Korea a " more attractive " investment destination . " The Korean government will increase incentives to attract foreign investment . For example , we will provide full exemption for rent on land in foreign investment zones exclusively for parts and materials production , " he said . He added that the government aims to enhance flexibility in the labor market and remove " inconveniences " that foreign investors might face while doing business here . ( sohjung @ heraldm . com ) By Yoo Soh - jung