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November 25, 2009 11:15 AM

South Korea Regards Asean An Investment Destination

From Rubiah Mohamed

SEOUL, Nov 25 (Bernama) -- South Korea regards Asean member countries as a significant destination and partners for investment offering vast opportunities for businesses.

South Korea has been taking a pro-active approach to become a business partner in Asean and north-east Asia, said Seho Kim, Korean Chamber of Commerce and Industry (KCCI) Vice-President (international affairs).

Asean is the third largest trading partner and investment destination and second largest overseas construction market for South Korea, he told an Asean media delegation who visited KCCI here Wednesday.

The delegation comprised three journalists from each of the 10 member countries of the regional grouping.

They are here on a five-day visit jointly hosted by the Asean Cooperation Division, South Korea Foreign Affairs and Trade Ministry to mark the 20th anniversary of the Asean-Republic of Korea Dialogue Partnership.

Kim said that between 2003 and 2008, South Korea's total investment in Asean was US$16.9 billion and in 2008 alone, it amounted to US$5.7 billion.

"This shows how significant Asean is in terms of economic activities and investment to the Korean business people," he said.

Asked what are the potential areas or new sectors to be tapped between the two partners, he said: " Any opportunity is a potential for KCCI".

He said KCCI hoped for better transparency, predictability and certainty to accelerate investments in Asean member states.

Kim said the South Korean government was now promoting green technology to reduce carbon emission to 30 per cent by 2020.

The KCCI, which supports the Low Carbon Green Growth policy, is now involved in innovation research to produce new products and technology that are environmentally friendly, he said.

Asked whether any KCCI member felt burdened and opposed the policy, Kim said there was but the percentage was negligible.

He said business was full of risks and challenges and " we are always ready to change any challenge into opportunities".

Kim welcomed Asean country entrepreneurs, who planned to invest in South Korea, to seek guidance from KCCI on rules and regulations.

Services rendered by KCCI ranges from comprehensive support to resolve business issues and assist businesses in counselling, corporate and product information and national accreditations, among others, he said.

For more information, potential investors from Asean can log on to KCCI homepage at korchambiz.net.

-- BERNAMA

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