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PR/18-42 ASEAN Connectivity Forum to boost ASEAN-Korea cooperation on infrastructure2018-11-20

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PRESS RELEASE
No.PR/18-42Date20 November 2018
ContactProgram Inquiries: Kim Su-jung, Senior Officer, TIU (+82-2-2287-1192, sjkim@aseankorea.org)
Press Inquiries: Hwang Ji-seon, Senior Officer, IDU (+82-2-2287-1149, hjs@aseankorea.org)
ASEAN-Korea Centre is an International Organization mandated to promote economic and socio-cultural cooperation between ASEAN Member States and Korea.


ASEAN Connectivity Forum to boost ASEAN-Korea cooperation on infrastructure

- The ASEAN-Korea Centre to organize the 6th ASEAN Connectivity Forum in Seoul (11.27-28, KCCI, Seoul) –


Seoul, Korea – The ASEAN-Korea Centre (Secretary General Lee Hyuk) will organize the 6th ASEAN Connectivity Forum together with the Korea Chamber of Commerce and Industry (KCCI) on 27-28 November in Seoul, Korea. The Forum has been organized annually since 2013 to keep the Korean business community abreast of the connectivity-related infrastructure projects in the sectors of transportation, energy, and ICT in the 10 ASEAN Member States.
* ASEAN Connectivity refers to the physical, institutional, and people-to-people linkages among the 10 ASEAN Member States that can contribute to narrowing the development gap and facilitating economic integration.

 

Lee Hyuk, Secretary General of the ASEAN-Korea Centre noted that, “As the 10 ASEAN Member States have continuously stepped up their concerted efforts to enhance physical connectivity, infrastructure demand in the region is projected to amount to approximately 3.3 trillion USD by 2030. Despite this positive prospect, many competitive Korean companies with expertise and experience are struggling compared to their Chinese and Japanese counterparts, as they have insufficient information on project planning, financing, and partnering. With the recent trend of Public-Private Partnership (PPP), it is increasingly important for the private companies to be equipped with capacities for Project Financing. Against this backdrop, this year’s forum is timely and meaningful in that it will provide the Korean business community with substantial information on successful project financing, opening up wider opportunities for them to participate in the connectivity-related infrastructure projects in the region.”

 

At the Opening Ceremony on 27 November, Secretary General Lee Hyuk, Executive Vice-president of KCCI Kim Jun-dong, Undersecretary of Department of Trade and Industry of the Philippines Rowel S. Barba, Deputy Minister for Political Affairs of Republic of Korea Yoon Soon-gu, and Deputy Assistant Secretary of Department of State of the United States Mark Knapper are scheduled to deliver remarks. The first session will feature presentations and panel discussions on successful Project Financing for ASEAN infrastructure projects by representatives from Asian Development Bank (ADB), International Finance Corporation (IFC), Export-Import Bank of Korea (KEXIM), and Korea Overseas Infrastructure & Urban Development Corporation (KIND). In the next session, government officials from 10 ASEAN countries will present the most up-to-date information on the key connectivity-related projects in transportation, energy, and ICT sectors in their respective countries. On 28 November, there will be one-on-one business meetings between pre-registered Korean companies and ASEAN government officials.

 

Those who are interested in infrastructure projects in the ASEAN Member States can register for the Forum (closed on 26 Nov) and one-on-one business meeting (closed on 20 Nov) through the official website (http://acf.aseankorea.org). The information available at the website includes all the details about the Forum as well as the concept of ASEAN connectivity, the respective ministries and relevant organizations in charge, and bidding and market information.

 



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