Click on the advert above to visit the company web site

Product category: Engineering Industry Developments and Awards
News Release from: DTI Global Watch Service
Edited by the Engineeringtalk Editorial Team on 12 November 2003

Growing high-tech links with Korea

The position of South Korea as one of the UK's most important business partners was underlined by the success of the fourth UK-Korea High Technology Forum last week in London.

South Korea is already one of the UK's important business partners Last year, for instance, UK exports to South Korea increased by 14% to reach a total value of GBP 1.5 billion

But the relationship between the two countries' business communities is also characterised by increasing numbers of collaborative ventures between UK and South Korean companies, especially in the areas of both established and emerging high technologies.

This fact was underlined by the success of the fourth UK-Korea High Technology Forum, which took place last week in London.

The event was organised by the Asia-Pacific Technology Network (APTN) and the Korea Industrial Technology Foundation (KOTEF) and was hosted by the DTI's Global Watch service and UK Trade and Investment with sponsorship from BAe Systems, the London Development Agency, Shell Power and Gas and the London First Centre.

It brought together 100 delegates from Korean companies, universities and research institutions, with 120 counterparts from the UK.

In total 64 Korean companies and 52 UK businesses were represented.

The forum provided the opportunity for delegates to compare developments in the countries in four areas of high technology - information and communications technologies, energy and the environment, life sciences and innovations in manufacturing - as well as ancillary topics such as technology forecasting and road mapping, cluster development and university-industry relations.

But it also gave them the chance to investigate the potential for collaborative ventures with possible partners in each country.

By the end of the forum no fewer than 95 separate meetings between UK and Korean companies had taken place.

According to Lord Sainsbury, Minister for Science and Innovation, who addressed the forum, the two countries have highly complementary areas of expertise and excellence, such as the UK's capabilities in bio-informatics and bio-engineering and South Korea's resources in physics and engineering.

"I strongly believe that the close relationships between the governments, innovative businesses and research communities of Korea and the UK are extremely important in driving forward innovation in both our countries", he stated.

"I am therefore sure that this year's forum will act as a catalyst for more UK-Korean partnerships and contribute significantly to closer economic ties".

Lord Sainsbury's remarks are endorsed by Phil Burton, Chairman of the Korea Advisory Group - a small team of senior business and political leaders who advise the UK Government on all matters relating to Korea.

Burton says that since their inception three years ago the series of annual high technology forums have grown markedly in size - there were 60% more delegates at this year's forum than at the previous UK event two years ago - and have had a "significant effect" on commercial relations between the two countries.

He adds that there should be some tangible results from this year's forum, as several of the Korean delegates were "actively seeking to place orders" with UK companies.

Relations between the countries are also developing in the education sector.

The number of Korean students attending UK universities has increased by 40% since last year and is likely to rise even more as 86 UK universities, six more than last time around, were exhibiting at this year's UK Education Fair in South Korea.

Direct help for UK and Korean companies seeking partnerships with each other is also now available through the DTI's International Technology Promoters programme, which uses individuals with relevant language skills and technical knowledge to broker collaborative agreements between UK and non-UK companies.

The International Technology Promoter for South Korea is Hong Hai Seeto, who is based in the UK but travels regularly between the two countries.

Hong Hai Seeto confirms that contacts between UK and Korean businesses are growing rapidly as the "lack of profile" that existed between the two as recently as three to four years ago is supplanted by a recognition that there are distinct synergies that provide the basis for innovative and profitable partnership agreements.

After the two-day conference the Korean delegation spent two days visiting laboratories and plants across the UK as guests of regional authorities to see at first hand some of the key R and D facilities and a number of world-leading industrial concerns.

• DTI Global Watch Service: contact details and other news
• Email this article to a colleague
• Register for the free Engineeringtalk email newsletter
• Engineeringtalk Home Page

Search the Pro-Talk network of sites

Put your news on Engineeringtalk  |   Advertise  |   Get the free Engineeringtalk newsletter  |   Engineeringtalk Home
About Engineeringtalk  |   Copyright © 2000-2008 Pro-Talk Ltd, UK