On 20–21 February 2019, with the aim of promoting economic relations between Latvia and Korea, Ambassador Pēteris Vaivars went on a regional visit to the cities of Ulsan and Jinju. The highlight of the visit was the Ambassador’s participation in the naming and launching ceremony for a chemical tanker CLYDE, built in Korea’s largest shipyard, Hyundai Heavy Industries. Under an agreement between the owners, Union Maritime, and a Latvian company SIA LSC, the latter undertakes the ship’s technical management and recruits the crew. SIA LSC Executive Director Aleksejs Sidorenko and the ship’s Master Dmitrijs Ovčiņņikovs were also present at the event.
The Ambassador then met with the Vice-Mayor of Ulsan, SONG, Byung-gi, and the President of the Ulsan Chamber of Commerce and Industry, JEON, Yeong-do. The parties discussed the promotion of economic cooperation in the areas such as the use of modern technologies in the sectors traditional for Korea – shipbuilding and industry – and the export of Latvian timber products with a high value added. Timber industry products are currently ranking first in the structure of Latvia’s exports to Korea, with veneer and pallets dominating.
The trip was concluded with the Ambassador’s visit to the city of Jinju in the south of the country, which sees active cooperation with Latvia in the timber trade sector, being home to Palleteries Korea, related to the company Palleteries in Latvia. In a meeting with the Mayor, the parties agreed to move ahead with the ongoing cooperation in the timber-processing sector, as well as promoting city-to-city cooperation between Jinju and Kuldīga in Latvia. At the Jinju Chamber of Commerce, and agreement was reached on the potential export of new timber products – prefabricated timber houses – to Korea, and the export of designer furniture was also discussed.
At Palleteries Korea, its senior manager Alex Kang introduced the Ambassador to the company’s operations and thanked him for the Embassy’s current support of the import of Latvian timber products. Mr Kang then informed the Ambassador about the plans to start the import of children’s bicycles from Latvia this year. While in Junju, the Ambassador also discussed potential cooperation with a drone manufacturing company that delivers its products to local and central government institutions.
Embassy of the Republic of Latvia in the Republic of Korea
Address: 29, Hannam-daero 36-gil, Yongsan-gu, Seoul, 04417, Republic of Korea
Telephone: (02) 2-2022-3800
Fax: (02) 2-2022-3803