Korea and ASEAN entrepreneurs visiting Busan City for the Korea-ASEAN CEO Summit signed a number of contracts for closer cooperation and exchange between the two regions.
On Dec. 11, a total of 323 companies attended the Korea-ASEAN Business Plaza hosted by the Korea Trade-Investment Promotion Agency (KOTRA).
“The participants signed seven MOUs and contracts worth US$160 million combined,” the agency explained.
At the meeting, KOTRA president Oh Young-ho stressed that better utilization of the ASEAN network is necessary with BRICs countries struggling these days. The volume of the trade between Korea and ASEAN nations reached US$135.34 billion at the end of last year. It was close to double that of 2007, when the Korea-ASEAN FTA took effect.