On the eve of the G20 summit in Seoul, Oh Se-hoon, the city's mayor, was keen to promote its charms as a destination for foreign investment. To make visiting businessmen feel at home, the city now has "international" taxis, manned by multilingual drivers, he pointed out. Visitors can call a helpline offering advice in five languages, from English to Mongolian. The mayor asked a Japanese banker what Seoul should do to attract foreign investment. Make it "a city that wives want to live in," he was told. But like many emerging economies, South Korea remains ambivalent about foreign capital. It is happy to attract the kind of long-term investors who bring their spouses with them.
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