ADMIN 2019. 06. 18.
 Korea, China to expand investment
글쓴이: GMG   날짜: 2005.10.10. 21:07:40   조회: 2942   글쓴이IP:
Korea, China to expand investment

Entrepreneurs representing a Chinese business community of 60 million members around the world opened their biannual convention in Seoul yesterday.
The eighth World Chinese Entrepreneur Convention welcomed as many as 2,500 Chinese and 500 Korean businesspeople, making it the largest of its kind since the sixth convention held in Nanjing, China in 2001.

Reflecting China's economic prowess, Chinese entrepreneurs from 27 countries, including Southeast Asia, Europe and Africa, in addition to China, hope to strengthen and build their global networks.

They are attending various seminars aimed at promoting economic growth throughout the three-day event. Participants also include top executives of 70 business-related umbrella organizations from 20 countries.

Parcipants in the 8th World Chinese Entrepreneurs Convention listen to a congratulatory speech from President Roh Moo-hyun during an opening ceremony held at the COEX in Seoul yesterday. [The Korea Herald]
Ian Fok Chun-wan, chairman of the Hong Kong-Chinese Chamber of Commerce and Industry, told reporters yesterday that he hopes this year's event will help further improve relations with the host country. Assets of the overseas Chinese business community are estimated to total $2 trillion.

Noting Korea's achievements in the information and technology sector, as well as in the field of science and technology, Ian Fok Chun-wan said Korea could play a leading role in helping China advance in these areas.

"The future of China depends on progress in science and technology," he said. "It is very desirable to learn from Korean experiences."

President Roh Moo-hyun, in his speech at the opening ceremony, stressed the importance of cooperation for future success.

"If Korea's technological expertise and excellent human resources can be combined with your capital and global network, the ensuing synergy effect will be quite substantial," said Roh.

Korea, which won an intense competition to host the event dubbed the "economic Olympics," seeks to build closer ties between local and Chinese entrepreneurs. It hopes to also attract investors and learn ways to successfully do business in the world's fastest-growing economy.

"I hope that this convention will provide a precious occasion to help bring Chinese business leaders and Korea closer together so that both sides shall grow hand-in-hand in the global community," said Roh.

The Ministry of Commerce, Industry and Energy, an organizer and key supporter of the convention, said the occasion will feature diverse and practical programs designed to promote business exchanges between Korean and Chinese entrepreneurs.

Some areas to be discussed are information-technology, biotechnology and venture businesses. One-on-one trade discussions will also take place.

Government officials forecast that around $800 million worth of trade deals could be signed, in addition to some memorandum of understandings. The MOUs can be completed by individual companies.

The Commerce Ministry said various investment seminars on such areas as leisure, tourism and social overhead capital are also taking place.

To strengthen cooperation between Korea and China, the government hopes to reinforce the Korean wave by sharing dramas, songs and movies. It believes cultural experiences will help remove any misconceptions about Korea.

Korea is one of the few Asian countries to be not as receptive to ethnic Chinese businesspeople, which total about 20,000. Japan and Korea have the smallest number.

The government believes building trust, a key ingredient to finding success in China, will lead to more investment opportunities.

"Many foreign companies have misunderstood the Chinese, so you need to team up with the Chinese to understand them better and do business in China," said Ian Fok Chun-wan, whose assets top about $3 billion. "Each individual must make efforts to improve. Cooperation will always bring better results," he stressed.


By Yoo Soh-jung


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