Business news

6 Sep 2018

S Korea business community study Belarus’ investment climate

Photos courtesy of the Belarusian Ministry of Foreign Affairs

MINSK, 6 September (BelTA) – A Belarusian delegation led by Deputy Minister of Foreign Affairs Andrei Dapkiunas took part in the session of Belarus-Korea Business Round Table on 5 September during their visit to Seoul (Republic of Korea), BelTA learned from the press service of the Belarusian Ministry of Foreign Affairs.

The event was organized with the help of the Federation of Korean Industries and other business associations. The Korean business community was told about Belarus’ economic potential, its investment climate and promising projects.

At the meeting with 2^nd Vice Minister of Foreign Affairs Cho Hyun the parties agreed to facilitate the political dialogue, including through the exchange of high-level visits. They reaffirmed their commitment to promote cooperation in economy, science and high technology.

The delegation also met with Vice Minister of SMEs and Startups Choi Sugyu to discuss ways to step up cooperation in innovations and investments, to facilitate contacts between SMEs of the two countries, including in small and mid-size towns, as well as a possibility to cooperate in venture financing of promising sci-tech projects.

The Belarusian delegation met with a top manager of Hanwha Chemical Corporation to examine promising avenues of cooperation. The parties discussed a possibility to initiate projects to develop chemical and petrochemical products as part of investment projects and joint ventures. Andrei Dapkiunas expressed interest in closer cooperation between Belarusian companies and Hanwha Chemical Corporation divisions that manufacture robotics, electronic systems and aerospace equipment. Hanwha Chemical Corporation is among 10 biggest business conglomerates of the Republic of Korea and is listed in Fortune Global 500. It incorporates companies specializing in aerospace solutions, robotics, construction, chemical substances, power engineering, finance and investment, services and entertainment. The total revenue of the corporation in 2017 exceeded $55 billion.

At the meeting with President and SEO of the Korea Trade Network (KTNET) Yong-Hwan Kim, the parties expressed mutual interest in closer cooperation in paperless trade.

At the meeting with Vice Chairman and CEO of the Federation of Korean Industries Tae-shin Kwon, the parties discussed the organization of visits of Korean business people to Belarus.

The talks with Lee Won-wook, Chairman of the Korea-Belarus Parliamentary Friendship Group, focused on joint events as part of interparliamentary cooperation. The Belarusian delegation also met with senior executives of the Korea Institute for International Economic Policy to share views on economic cooperation prospects and to discuss a possibility to conduct joint research projects in economics, including in the context of various Eurasian initiatives.

At the meeting with a top executive of the Convention and Exhibition Center (COEX), the Belarusian delegation expressed interest in the participation of Belarusian companies in exhibitions of high-tech products in the Republic of Korea.

During the talks with Han Jin-hyun, Vice Chairman of the Korea International Trade Association, the parties discussed ways to ramp up trade and economic cooperation and interaction in e-government and paperless trade. Apart from that, they agreed to facilitate contacts between the business communities of Belarus and Korea.

Photos courtesy of the Belarusian Ministry of Foreign Affairs