Press Release 

Global Business Forum organized by the Embassy of Bangladesh in Seoul and the Korea Herald

The Embassy of Bangladesh in Seoul partnered with the Korea Herald to host the Global Business Forum (GBF) highlighting Bangladesh on 20 July 2022 at the Grand Hyatt Hotel in Seoul.

The forum brought together about 120 CEOs of different Korean companies. In addition, members of the Korean National Assembly, Governor of North Gyeongsang province and senior officials from the relevant government and private trade bodies attended the forum. The forum was a part of the Embassy’s effort to project Bangladesh’s potential and prospects before the Korean businessmen and investors attending the forum as well as promote bilateral trade and investment.

In their opening remarks, Mr. Choi Jin-young, CEO of the Korea Herald and Mr. Chung Won-ju, Chairman of the Herald Corporation expressed keen interest to work closely with the Embassy of Bangladesh in Seoul in organizing such joint events to promote bilateral trade and investment.

In his welcome remark, Ambassador Delwar Hossain highlighted Bangladesh’s robust socio-economic growth as well as the growing economic partnership between Bangladesh and the Republic of Korea. Ambassador Hossain referred to the existing excellent bilateral relationship between the two countries which has grown in depth and dimension over the last 5 decades. He mentioned that with robust economic growth and remarkable progress in various sectors for more than a decade, Bangladesh is now well poised to forge a deeper comprehensive partnership with the Republic of Korea for mutual benefits. He highlighted the economic opportunities of Bangladesh and potential areas of cooperation where both Bangladesh and Korea can mutually benefit through increased cooperation.

Mr. Kim Jong-won, the Director General of the Korea Trade-Investment Promotion Agency (KOTRA) and former chief of the Dhaka KOTRA office, made a presentation on the trade and investment opportunities in Bangladesh. In his deliberation, Mr. Kim presented the upward trend of Bangladesh’s economic growth and its future growth projection with a comparative analysis with other developing countries. He opined that considering the ongoing economic development, investment-friendly environment and policy and competitive labor cost, Bangladesh could be a better option for Korean businesses and investments. He informed that the Korean tech giant Samsung and Hyundai have recently started establishing assembling plants in Bangladesh in partnership with the local companies for some of its products like mobile phones, home appliances, and automobiles. Therefore, he encouraged the Korean business executives to reorient their focus and policy priorities toward Bangladesh and seize the opportunity offered by Bangladesh for mutual benefits.

During the event, promotional videos presenting the history, culture, recent economic progress and potential of Bangladesh were screened so as to enrich the knowledge and perception of the Korean businessmen on Bangladesh. In addition, brochures on trade and investment opportunities of Bangladesh and gifts (green tea) were distributed among the guests. In the cultural segment, Bangladeshi performers, besides Korean performers, performed folk songs and dance. The guests were served Bangladeshi traditional desserts and sweetmeats.

Seoul, 21 July 2022.