President of Latvia opens Latvia-Korea Business Forum

On 29 November, President Edgars Rinkēvičs opened Latvia-Korea Business Forum in Seoul. The aim of the forum is to attract investment and promote Latvia's export capacity.

The president is accompanied by a business delegation of 19 Latvian companies and organisations, representing sectors including biomedicine and pharmaceuticals, the wood industry, the film industry, aviation, design, energy and defence. The visit to the Republic of Korea includes both companies with existing experience in this market (JSC "Latvijas Finieris", "Krauzers" Ltd, JSC "Grindeks", Design Export Alliance) and Latvian companies seeking new partners and access to the Korean market ("Edge Autonomy Riga" Ltd. "Fokker Next Gen Latvia" Ltd, "Labrains" Ltd, "SWH Sets" Ltd, "PAA" Ltd). Representatives from Pauls Stradiņš Clinical University Hospital and the University of Latvia also participate in the visit to develop cooperation in the field of science and research.

"Latvia has several areas of economic cooperation that could be developed with the Republic of Korea. The accompanying business delegation is evidence of Latvia’s willingness to cooperate in the fields of science, pharmaceuticals, wood processing, defence industry, film industry and energy. Of particular note are those Latvian companies that initiated cooperation prior to the visit to conclude memoranda of understanding of cooperation in the fields of pharmaceutical production and green methanol production. In this context, we are pleased to see the interest Korean companies have in Latvia and the investments they have already made," said E. Rinkēvičs.

During the visit of the President of Latvia, three memoranda of understanding were announced between Latvian and Korean companies. Two of them in the field of biomedicine and one in the field of green energy.

Source: Chancery of the President of Latvia

Originally published: 29th November, 2024

Photo: Dāvis Doršs, Chancery of the President of Latvia