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24 September 2001, Hong Kong

Plenary Session

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Strategic partnership between Hong Kong and Korean companies was a focus of the high level Korea/Hong Kong Business Round Table meeting today (Monday) in Cheju Island.

Trade Development Council (TDC) Chairman Peter Woo led an eight-member Hong Kong delegation to meet eleven counterparts from Korea.

In a speech on the implications of China's imminent entry to the World Trade Organisation, Mr. Woo highlighted the benefits of strategic partnership between Korean and Hong Kong companies to take advantage of new business opportunities in the mainland.

"Korea is strongest in north-east China. Hong Kong has an unparalleled foothold in the south, particularly the Pearl River Delta", said Mr. Woo.

"Many more opportunities remain to be explored in both these areas. Our companies will find that the possibilities will increase exponentially if they team up with business partners whose skills and capabilities, and geographical reach, are complementary to their own".

Other topics of discussion at the Round Table included economic co-operation between the two Koreas and between Hong Kong and Korea; Hong Kong as the regional fund-raising centre; and Korea as the logistics and distribution hub for north-east Asia.

Mr. Woo will also travel to Seoul to meet the Korean Minister of Commerce, Industry and Energy and to give a keynote speech at a TDC business luncheon tomorrow (Tuesday).