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Business leaders from South Korea and Hong Kong got together Wednesday in the
Chinese territory to discuss ways of boosting their bilateral trade and
investment partnership.
The Korea International Trade Association and
the Hong Kong Trade Development Council co-hosted the 15th South Korea-Hong Kong
Business Round Table at the Hong Kong Convention and Exhibition Center. The two
sides' last gathering was held in 2010 in Seoul.
"The South Korea-Hong
Kong Business Round Table has been a significant catalyst for economic and trade
cooperation between the two parties for the last twenty years," said Consul
General Jun Ok-hyun. "I believe it will continue to do so for the next twenty
years."
Some 30 business and economic leaders gathered and discussed
ways to promote bilateral cooperation in the service fields such as the
financial sector, cultural sector and medical industry.
Hong Kong is South
Korea's fourth-largest export market after China, the U.S. and Japan. South
Korea is the seventh-largest export market for Hong Kong.
Bilateral
trade between the two economies amounted to more than US$27 billion in 2011, up
12.7 percent from a year ago.
In line with growing intra-regional
trade in Asia, Hong Kong's total exports to South Korea went up 14 percent to
reach $7.9 billion last year. South Korea's exports to Hong Kong increased by
12.2 percent to $19.3 billion. Hong Kong ran a trade deficit against South Korea
amounting to over $11.4 billion.
According to the South Korean
Consulate General in Hong Kong, 500 South Korean companies operate in Hong Kong,
engaging in financial services, logistics, transportation and cosmetics, among
others.