Romania must become a commercial hub for Korean investors, not only a market, for they must take into account the fact that this is a country member of the European Union and NATO, with a privileged geographical position, Mihai Daraban, the head of the Chamber of Commerce and Industry of Romania (CCIR) stated, according to Agerpres.

„CCIR highly appreciates the relationship it has with its Korean counterparts, in our economic missions we undertook in this country we learned a lot about how we can improve the economic relationship between the two states. As for the Romanian consumer, we can say, while looking at the import figures, that there is a true dependence on Korean products. Unfortunately, they are not manufactured in Romania, but in other countries in the European Union. Romania is in great need of opening production lines in the country (…). Obviously, Korean investors must also take into account the fact that Romania is a country member of the EU and NATO, with a privileged geographical position. All goods coming from Korea by sea pass through the Suez Canal, needing only three and a half days of sailing to reach the Port of Constanta, compared to the eleven days it would take for these goods to enter the Port of Rotterdam, which ultimately means lower costs. Romania must become not only a market but also a commercial hub for Korean investors,” said Mihai Daraban at the Romania-Republic of Korea Business Session, which took place at the CCIR headquarters.

The Ambassador of the Republic of Korea in Romania, RIM Kap-soo, stated that the event aims to materialize the official visits undertaken last year by the representatives of the Romanian Government in the Republic of Korea and emphasized that the Romanian market has a very high development potential.

„Clearly, the record value of trade exchanges, recorded at the end of 2022, makes us happy, but we do not want to stop there. We believe that the Romanian market has a very high development potential, and as the Ambassador of the Republic of Korea in Romania, I identified several economic sectors in which we can invest, such as: IT&C, the defence industry, home appliances or infrastructure. Therefore, today’s event represents the first step in boosting bilateral economic relations. And, as you well know, any the journey, no matter how long, begins with a first step,” said the Korean diplomat.

At the same time, Son Jae-il, CEO of Hanwha Aerospace, mentioned that Romania and the Republic of Korea have established diplomatic and economic relations since 1990 and more and more Korean companies have entered the Romanian market, especially in the IT&C area, defence industry and nuclear technology.

The Chamber of Commerce and Industry of Romania, in partnership with the Chamber of Commerce and Industry of the Republic of Korea (KCCI), organized the Romania-Republic of Korea Business Session on Tuesday, with the aim of boosting bilateral trade relations.

According to a press release from the CCIR, the event was part of the government’s strategy to strengthen bilateral relations between Romania and the Republic of Korea and took place on the sidelines of the visit to Romania by the KCCI delegation, led by Woo Taehee, the vice-president of the organization.

The business session was followed by a series of Business to Business (B2B) meetings attended by representatives of over 20 Romanian and Korean companies, active in various economic sectors, such as: IT&C, the defence industry, the household appliance manufacturing industry, infrastructure. aeronautical and aerospace industry.

Agerpres