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UK, Korea Host Seminar on Service Competition
To Share UK, S. Korean Experiences in Service Sector
UK Ambassador to Seoul Warwick Morris in a Seoul seminar

The British Embassy and Ministry of Finance and Economy (MOFE) co-hosted a-half-day seminar on "Competition in the Service Sector" in a Seoul hotel on Feb. 28, 2007.

The seminar was divided into three sessions — "Promoting Competitive Services," "Creating a Competitive Environment," and "How to Make South Korea's Service Sector More Competitive (panel discussion)." Prior to the seminar British Ambassador to Seoul Warwick Morris delivered a opening speech before well over 100 participants gathered in Lotte Hotel downtown Seoul.

Deputy Minister Lim Young-Rok of Ministry of Finance and Economy gave a congratulatory speech.

Presentations were made respectively by Deputy Director General Kim Keun-Soo of Economic Policy Coordination Bureau, Vice Chairman David Wright of Barclays Capital, Director Lee Jae-Young of Financial Policy Bureau, Director General Han Chol-Soo of Competition Policy Bureau Fair Trade Commission, and Advisor Johan Vandromme of Kim & Chang Law Firm Official of EU Commission DG Competition.

The following are parts of the contents published or discussed by the participants. South Korea's service sector is developing fast. In 2005, the sector accounted for 56.3% of GDP and 65.5% of employment. This is not far behind the OECD average and catching up quickly.

The Ministry of Finance and Economy is keen to restructure the service sector and promote competition. It is aiming to improve the business environment and the sector's productivity.

South Korea has to meet the challenges of competition if it is to become a world leader in the service sector as it has in the manufacturing sector.

The UK's service competitiveness has grown dramatically over the last 20 years so that the UK is now the world's second largest exporter of services — second only to the US (and ahead of the US on a per capita basis).

The seminar was held as an opportunity for sharing UK and Korean experiences in the service sector. It also served as a chance to review the business environment, expertise and future plans for developing a world class service sector.

For details or inquiries contact the British Embassy in Seoul for Ms Kang Myung-Hwan of the embassy's economic section at 3210-5604/5601 or leave Email to her at Cecilia.Kang@fco.gov.uk.




 

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