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Local firms target IR in Hong Kong

A delegation led by a state-run trade agency and 10 Korean businesses will be luring investors in Hong Kong as some 2,500 bankers, industry leaders and government officials from 32 countries gather for a conference.

The annual Asian Financial Forum, which kicks off Monday, is aimed at discussing opportunities and challenges faced by the rapidly growing region and hosting more than 400 meetings between 120 promising firms and their potential investors.

The 10 Korean companies are engaged in sectors such as information technology, software and green technologies. They are looking to penetrate international markets starting with China, the Korea Trade-Investment Promotion Agency said Sunday.

The list includes POSCO ICT, DAEA TI, Energy Solutions, Renew Energy and Biol Systems. Some of them are listed on KOSDAQ, the country’s tech-heavy junior bourse.

Last year, foreign direct investment from China shot up 57.2 percent on-year to $651 million, government data show. That from Hong Kong surged more than six-fold over the same period. With the two combined, the region was Korea’s fourth-largest investor after the U.S., Japan and Germany.

Also at the two-day event will be George Osborne, U.K. Chancellor of the Exchequer; Haruhiko Kuroda, president of the Asian Development Bank; Benjamin Hung, chief executive of Standard Chartered Bank; Raymond Yip, an assistant executive director of the Hong Kong Trade Development Council; and Michel Barnier, European commissioner for internal markets and services.

“The forum will provide various opportunities for the Korean firms as about 30 percent of its attendees are deep-pocketed, globally acclaimed investors who seek strategic alliances with corporate participants,” said Hank Ahn, a commissioner of KOTRA’s foreign investment unit.

By Shin Hyon-hee (heeshin@heraldcorp.com)
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