Chairman of Kuwait Chamber of Commerce and Industry, Mohammed Al-Sager, affirmed that "South Korea is one of Kuwait's largest trading partners, as statistics for the year 2018 show that the total volume of trade exchange for non-oil products with South Korea is approximately $1.5 billion."
This came during a meeting between Al-Sager and the South Korean Ambassador to Kuwait Hong Yong Ki, who stressed the "economic importance that South Korea represents to Kuwait," appreciating the historical role played by the Korean companies in the past decade and extending to the current period, referring to "the current implementation of the Korean companies to projects of prime strategic importance, with a direct impact on the economic development of Kuwait."
Mr. Al-Sager stressed that "the investment environment in Kuwait has become encouraging and attractive to foreign capital, after amending a number of relevant economic laws, the most important of which is the Kuwait Direct Investment Promotion Law, which provides the opportunity for foreign investors to establish companies at a rate of up to 100 percent."
For his part, the South Korean Ambassador Hong Yong Ki stated that "the excellent political relations linking Kuwait and South Korea are the main pillar for developing joint economic ties, which have witnessed major developments in the past period," referring to the embassy's continuous efforts seeking to find strategic partnerships between the Kuwaiti and Korean business sectors."
Source (Al-Rai Newspaper-Kuwait, Edited)
