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Korea to Pursue Increased Business Activity with the UK
Korea Industrial Complex Corporation sign Memorandum of Understanding with South East England Development Agency at Department of Trade & Industry Wednesday 1st December 2004
01st December 2004
Korea Industrial Complex Corporation (KICOX) President Chil-doo Kim and the South East England Development Agency (SEEDA) Chairman, James E Brathwaite CBE signed a Memorandum of Understanding (MoU) in the presence of the Parliamentary Under Secretary of State for Science and Innovation, Lord Sainsbury. This collaborative relationship is directed at the development of business opportunities between Korea and the UK.
The MoU is a commitment by both organisations to develop a partnership to expand economic co-operation between the UK and Korea . It will concentrate on sharing best practice to improve the competitiveness of businesses and academic institutions from Korea and South East England. It will provide a platform for companies and universities to develop closer commercial links to increase two way trade, two way investment and two way technology transfer.
Collaboration between SEEDA and Korea has been on-going for the last four years as part of SEEDA's Global Region’s Initiative (GRI). The partnership will be advantageous to both organisations which share academic and commercial strengths in bioscience, ICT and high tech engineering.
SEEDA's Chairman, James E Brathwaite CBE said: "I am delighted to meet with President Kim and underline SEEDA's commitment to Korea. Korean industry is well respected in the UK and a number of Korean companies have located in the South East and successfully established collaborations with the many world-class academic departments and research establishments based in the region. The MoU is evidence of the success of SEEDA’s Global Regions Initative."
KICOX President Kim said: "I am pleased to meet Chairman James Brathwaite CBE and enhance the economic relationship with SEEDA. Our partnership will be stronger in the field of technology transfer, commercial trade and investment. Furthermore, KICOX and SEEDA will make an effort to lead the cooperative relationship between Korea and the UK."
The Global Regions Initiative promotes two-way trade, investment, technology transfer and close academic links, seeking to further enhance profitability and sustainable international businesses throughout the region. As part of the Initative SEEDA employs Eun Jung Lim, Vice President Business Development, Korea. Recent events organised by SEEDA in Korea include an Information Security seminar which took place at the Shilla Hotel, Seoul, in November.
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