There is high potential for Korean small and medium companies to operate in Fiji.
These were the comments by Fiji’s Resident Ambassador to the Republic of Korea His Excellency Filimone Kau following a meeting with Korea Federation of Small and Medium Business (KBiz) Chairman Mr. Kim Ki-Moon.
Ambassador Kau met with Chairman Kim to seek information on the role of the Federation in Korea particularly in how it operates small and medium businesses in Korea.
The meeting also discussed possible areas of investment in the infrastructural sector.
According to Ambassador Kau, Korean companies currently operating in Fiji held a proven track record and were highly recommended.
He said Government was exploring the possibility of hiring Korean companies to conduct major projects in Fiji and sought the recommendation of Chairman Kim on the subject.
The small and medium business of the Republic of Korea is considered the root of its economy and accounts for 99% of the number of enterprises and 88% of the number of employees, therefore playing a pivotal role in the ROK’s national economy.
Until now, the ROK’s SMEs continuously improves its competitiveness and cultivates overseas markets through endless technology development and management innovation.
As a result, it has established the foundation to develop into the world’s ninth trading nation with trading volume of US$1trillion.
The Kbiz was established in 1962 under the objective to improve the economic status and support equal opportunities for Korean SMEs.
KBiz has actively dealt with the rapidly changing global economy through making proposals on governmental policies and seeking various systems, while also providing support that aims to enhance the competitiveness of SMEs.