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South Korea urged investors in Hong Kong Thursday to invest in Asia's fourth-largest economy by offering a variety of incentives.
South Korea's Ministry of Knowledge Economy opened a two-day national investor relations (IR) session in Hong Kong earlier in the day, designed to woo Hong Kong-based large-scale funds and other foreign capital.
South Korean officials, led by Knowledge Economy Deputy
Minister Moon Jae-do, promised various incentives, and private business meetings
will be held between the South Korean government delegation and Hong Kong
investors, according to the ministry.
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 rose 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 suffered a trade deficit against South Korea amounting to
over $11.4 billion.
The South Korean government held a similar session
in Singapore earlier on Tuesday.