Minister Richard Bruton leads Trade and Investment visit to Korea

Minister for Jobs, Enterprise and Innovation, Richard Bruton T.D, lead a trade investment mission to Korea from 25 – 27 June prepared jointly by the Embassy, Enterprise Ireland and IDA Ireland. A particular focus of the visit to Seoul was on future opportunities and collaborations in the ICT and life sciences sector.

While in Korea, Minister Bruton met with the Vice Minister of Science, ICT and Future Planning Yoon, Jong-Lok. He also meet with representatives of thriving Irish and Korean companies doing business together. The programme included meetings with target companies in the life Science and ICT sectors including Hanwha Biologics and KT. He also participated in a number of high level business engagements with organisations such as the Korea Biomedicine Industry Association (KOBIA) and the Korean International Trade Association (KITA).

A highlight of the visit was the Enterprise Ireland Client Life Sciences Trade Briefing and Client deal announcements which took place on Friday, 27 June at the Plaza Hotel. Fishtree Ltd an Educational software company headquartered in Dublin with a representation office in Korea announced a strategic partnership with SKT and concluded a significant licensing deal with Korean educational service provider ‘Learning & Co’.

A group of the country managers and Korean partners of EI clients engaged in the Life sciences sector briefed the Minister on their on-going business progress.

Minister Bruton also visited SKT Tower to see on-going work on their Ultra Wide Band Pilot test bed project with Irish company Deccawave. At the Enterprise Ireland/IDA Trade Investment lunch that followed the trade briefing, Minister Bruton highlighted to the Korean companies present how his visit was aimed to showcase “…the capability of Irish companies in adding to your competitiveness in these challenging times and to encourage mutually beneficial collaborative ventures between business interests in our two countries”

The Minister also gave a keynote address at a highly successful Ireland Korea Business Networking dinner attended by over 50 Korean and Irish businesses.

Participants included Irish people who are in business in Korea, Korean local managers, local partners and end customers of EI client companies along with IDA target companies.

Minister Bruton reiterated the Irish Governments commitment to ‘Further developing and deepening trade, investment and technology links between Ireland and the Republic of Korea’. He also highlighted the increased engagement between Ireland and Korea evidenced in 3 Ministerial visits in the first half of 2014, the reopening of the IDA office in Seoul in 2013 and the expansion of the Enterprise Ireland office.

Other significant trade elements of Minister Visit included high level engagements with KITA and KOBIA. Minister Bruton meet with the President of Korean International Trade Association one of the most influential trade and business organisations in Korea to promote bi - lateral trade relations between Ireland and Korea and to discuss areas of cooperation. He also enaged in a roundtable meeting with the Korea Biomedicine Industry Association to discuss Irelands strengths as a destination for the life sciences industry and to focus on areas of potential future collaborations.