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Korean exporters to open joint pavilion in Shanghai
2010. 19 April
by Cho Chung-un
(koreaherald.co.kr) Construction of a joint exhibition pavilion for Korean exporters in Shanghai has been completed, a top executive said yesterday in Seoul.
“The construction of the joint exhibition pavilion has been completed and will start its operations from April 20. The pavilion will officially open on May 1,” Oh Young-ho, vice chairman of the Korea International Trade Association, told reporters yesterday.
The upcoming World Expo 2010 offers a chance for Korean companies to showcase their technological advancement and enhance their corporate image for the 70 million visitors expected to attend.
“It will build a foundation for Korean companies to take a step toward Chinese customers and also to strengthen economic ties between Korea and China,” Oh said.
Last year, Korea’s 12 leading exporters broke ground on a joint exhibition pavilion for the expo, in an effort to expand their presence in China. A group of 12 companies, including Samsung Electronics, Kumho Asiana, Shinsegae, POSCO, Hyundai Motors and Korea Electric Power Corp. has participated in the construction of the joint exhibition facility on the 3,000-square-meter property in the Chinese city’s Puxi region. Hyosung, Doosan, LG, STX, Lotte and SK Telecom have also taken part in the project.
Korean businesses have invested about 30 billion won ($27 million) for the construction and operation of the joint exhibition pavilion while KITA, an influential business lobbying group, took charge of overall coordination. The joint pavilion will visualize the future city driven by green technology.
“The pavilion ... will give them a chance to promote their social contribution activities and also visualize green cities of tomorrow pursued by Korean firms,” the vice chairman said.
Businesses will showcase their strategies for making city life better by using renewable energy, smart grid technology and intellectual transportation systems in the future, he added.
The economic growth of China is closely related to the future of the Korean economy. Korea’s trade volume with China may top $200 billion in 2013, according to a recent report. China has been Korea’s largest trading partner since 2004. Exports to China by the 12 companies alone account for 47 percent of their total sales, according to KITA.