Acting President Hwang Kyo-ahn says the government will establish a thorough defense system to counter North Korea’s provocations in cooperation with its allies to ensure a safe business environment for foreign invested firms.

Hwang's remarks came during a meeting with American Chamber of Commerce in Korea President John Schuldt and foreign CEOs in Seoul on Monday.

Hwang urged foreign firms to actively invest in South Korea, promising increased incentives and tax benefits for investment in new technologies. He also pledged to improve the support system for foreign investment.