Hong Kong and Korea Step up Economic Ties

Business leaders from Hong Kong and South Korea have committed to co-operate more closely against the backdrop of Korea's services liberalisation and China's impending accession to the World Trade Organisation (WTO).

They were speaking at the 7th Hong Kong/Korea Business Round Table meeting today (28 June), jointly organised by the Trade Development Council and the Korea International Trade Association (KITA).

Delegates said Korea's move towards liberalisation, privatisation and globalisation of services had created tremendous opportunities for the development of strategic alliances with Hong Kong.

With Hong Kong's competitive advantages as a services hub and infrastructure integrator in the Asia-Pacific region, it is a strong partner for Korean companies. Its gateway position can also facilitate Korean counterparts to tap business opportunities unfolding with China's WTO membership.

The Round Table, which meets annually, seeks ways to promote co-operation between Hong Kong and Korea at the highest levels of private business. The Korean delegation to the 7th meeting consisted of 21 of the country's business leaders. It was led by the Chairman of KITA, Mr Kim Jae-Chul, who was a co-chairman of the Round Table.

The 19-strong Hong Kong side was led by the Chairman of TDC, Dr Victor K Fung, who also co-chaired the meeting.