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Hong Kong - Korea Business Council (HKKBC) was inaugurated
(20 January, 2014)
As an established organization to promote economic and trade ties between Korea and Hong Kong, the Hong Kong - Korea Businesss Council (HKKBC) was earlier inaugurated. The newly-formed council was initiated by the Consulate General of Korea in Hong Kong, supported by the Korean government and founded by Hong Kong businessmen, with Jonathan Choi, the Chamber’s Honorary President, as Founding Chairman, and Kim Byum-soo, Chairman of the Korean Chamber of Commerce in Hong Kong, as Director. Its secretariat is located at CGCC.               
Joined them in officiating the council’s inauguration ceremony were Kwon Pyung-oh, Deputy Minister for International Trade and Investment of Korea; Cho Yong-chun, Consul General of Korea in Hong Kong; K C Chan, Secretary for Financial Services and the Treasury of the HKSAR; and Han Kiwon, Commissioner of KOTRA Invest Korea. In his address, Cho said, “Korea maintains world-class competitiveness in manufacturing, while Hong Kong has advanced service industries and networks connected to all over the world. I believe we can benchmark the strengths of each other in further developing our two economies.” He believes HKBC will make a meaningful role in stepping up the two places’ win-win economic partnership.               
Also speaking at the ceremony, Choi elaborated the mission of HKKBC, saying that the council will foster common interests of the Hong Kong and Korean business communities, provide opportunities to develop networks and partnerships, serves as a platform for the exchange of views and information, as well as identify new opportunities for trade and investment. Besides, the council will strive to facilitate mutual understanding between enterprises in the two places and relay its members’ views to the governments and relevant parties.
Chan gave a list of the Korea-Hong Kong economic relations: in 2012 Korea was the sixth largest trading partner of Hong Kong, with bilateral trade volume of US$27 billion while Hong Kong is the fourth largest market for Korean exports; and the bilateral trade volume has risen by 7.2% per annum over the past 10 years on average. He continued that Hong Kong is the third largest destination for Korean investment, adding that the country has invested US$13.2 billion in Hong Kong as of last September and 16 and 3 Korean enterprises have respectively set up their regional headquarters and offices in the city as of last June. Chan looks forward to HKBC further promoting economic ties between the two places.
The 85 founding members of HKBC come from the Chamber, the Korean Chamber of Commerce in Hong Kong, and business entities in both places; new blood is welcome as it expands in future. The council is planning activities including investment symposiums, study missions to Korea, receptions of business and government delegations visiting Hong Kong, as well as networking sessions for Korean enterprises in Hong Kong.






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