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Date [ 2008-05-26, 14:40 ]

KOTRA organized Korea Chungbuk Products show and Business Meeting 2008 in Malaysia


(Kuala Lumpur=Koreanpress) by Cecilia,  =  Kuala Lumpur, 22nd May 2008: ‘Korea Chungbuk Products Show & Business Meeting 2008’ held at Hotel Istana.
The exhibition opens to public from 22nd to 23rd May 2008 at Hotel Istana Kuala Lumpur

featuring Korean products of various categories such as chemical, Information Technology (IT), medical & pharmaceutical, household & personal care products, cosmetics & skincare, food & beverage, animal feed additives and automotive paints.

In the release it mentioned that it expects to draw crowds of over 1000 visitors and the 2-day exhibition of Korean products from the Chungbuk Province has garnered interest of mainly businessmen and manufacturers in the electronics, heavy equipment & engineering, energy & electrical, building materials and among other industries.

The exhibition was officiated by YB Datuk Liew Vui Keong, Deputy Minister under the Trade Division of the Ministry of International Trade and Industry (MITI) with presence of Mr. Lee Jong-Bae, Vice Governor of Chungbuk Province, Korea, Mr. Yang Bong-Ryull, ambassador of Korea to Malaysia. Mr. Lee Han-Chul, President of KOTRA Asia and Oceania Regional Office in Singapore, Mr. Hwang Gyu-Joon, Director-General of KOTRA Kuala Lumpur and Mr. Yoo Seung Bok, former President of Chungcheong Association in Malaysia were presents in the ceremony.

‘The Look East Policy which Malaysia embarked since 1983 remains to be one of the important pillars in the bilateral relations, especially in the field of trade and investment between both countries. As bilateral trades between Malaysia and Korea Governments are growing every year, economic ties between both Governments are further strengthen with business and cultural exchange through events such as KOTRA-organized events,’ said in the release.

According to Mr. Lee Jong-bae, Vice Governor in the Administrative office of Chungbuk Province, Korea,  ‘Last year, Korea exports to Malaysia is USD5.71 billion and Korea import from Malaysia USD8.44 billion. Korea exports to Malaysia semi-conductor, computers, electronic products, steel racks, electronics accessories, LCD panel, wireless communication devices. While Malaysia exports electronic parts, natural gas, LPG and timbers to Korea,
‘In promoting international partnership, Chungbuk Province is committed to have 6,000 manufacturing companies especially 160 foreign companies in Chungbuk has fields from Malaysia to Chungbuk in order to allow Chungbuk Province to expand its marketing. I believe export support in Chungbuk will allow more export value for year 2008 will exceed USD10 million, KOTRA will work hard’ asserts.

‘I think the company will have to decide, looking at the trade Malaysia and Korea trade for 2006-2007 has increased 60% and import has increased as more Korean markets will be interested to invest in Malaysia government said Mr. Lee when asked any possibility of Korean company come to set up in Malaysia.

And exhibition aims to promote marketing for the Korean government especially Chungbuk Province as they have products show in Indonesia last year.  He said it is the 1st event in Malaysia and will analyses the results and situation in Malaysia but it will not be an annual event but every 2 years.

And also they will analyze results for next year and looking to bring more Koreans from Chungbuk Province. For the products 2007 show in Indonesia he said they achieved target but statistics cannot be revealed right now.

Yang Bong-Ryull said,  ‘Today’s showcases especially excellent products from Chungbuk Province. Korea is the 6th largest partner and 8th largest investor for Malaysia in joint venture and strategic alliance in ICT, finance, tourism and education. More Malaysian companies start to invest in Korea. For example Berjaya Group invested USD2.6 million to develop Jeju Island and is the largest investor in Korea.

‘About 225,000 Koreans visited Malaysia last year 2007 and majority of them visited Kota Kinabalu, the state of Sabah. This is an 80% increase compared to year 2006. While 80,000 Koreans gone to Malaysia compared to year 2006. This is very encouraging to see more collaboration between Malaysia and Korea,’ 

‘We expect USD2500 million for Malaysia trade value compare to Indonesia last year at USD2000 million trade value in Indonesia, 

Korean Press asked  about the profit amount in 2007 and products transacted, Datuk Liew Vui Keong, Deputy Minister of International Trade and Industry Malaysia said Korea is one of the major Malaysia trading partners. He said Korea was Malaysia 6th largest trade partners in 2007.  However, the figures he has not have it at that moment.

‘We have very active skills in transport, machinery, equipment, manufacturing goods in exchange with Korea trade,’ 

Korean Press asked Mr. Yang whether there were any other programs initiated by the embassy as many investors wish to invest in Malaysia. In answering, Mr. Yang Bong-Ryull, the ambassador of Korea to Malaysia said in general no events but they are helping Korean business contact Malaysia business partners and Korean government working with the trading and the international trading industry.

‘KOTRA office will be giving full support and will be the window for both countries to support each other

Mr. Yang Bong-Ryull said they are helping investors and government investors working in trading investment. He said government systems will allow more investors to come into the countries where Malaysian and Korean investors trade between both countries and he believes there will be more trade.




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