Bucharest Chamber of Trade and Industry (CCIB) organized on September 11, in partnership with the Romanian Agency for Investments and Foreign Trade , a Romania-Korea Business Forum, on the occasion of the work visit made by the economic mission headed by Mr. Lee Byeongseung. Busan is the second largest city in Korea, after Seoul, and has a population of 3.6 million inhabitants. It is also the largest Korean port and the fifth most crowded port in the world. The city is located in the southern part of Korea. While welcoming the first time presence of Busan economic mission members at CCIB Palace, president Stocklosa made a short presentation of the Bucharest Chamber and the place it holds in the Romanian chamber system, he declared: “According to the International Relations Strategy, CCIB activities are focused mainly on the development of commercial-economic relations with non EU states. Therefore the promotion of contacts with Korean partners is a priority for us. We have a Cooperation Accord with the Chamber of Trade in Daegu and a Memorandum with Kotri (Korea Trade Intelligence) and today we will sign a collaboration memorandum between CCIB and Busan Chamber of Trade and Industry.” The presentation made by Mr Park Sukmoo, the vicepresident of Hyoseong Electric Company, an auto part manufacturer, with two factories (near Belrin and in Slovakia) who is now considering a setting up a third factory in Romania, aroused great interest. The event was followed by the completion of the Memorandum on commercial-economic collaboration between CCIB and Busan Chamber of Trade and Industry and the signing of the document by president Stocklosa, which also marked the coming into force of the document. The business forum ended with B2B talks among Romanian participants and members of Busan economic mission. Background information: In 2023, bilateral trade exchanges reached 1.2 billion USD, with 5.5% over the level recorded in 2022. Romanian deliveries registered 0.58 billion USD, a record volume (+35.6%), while goords coming from Korea recorded 0.62 billion USD (-12.5%). On May 31, 2024, the total volume of bilateral trade exchanges (0.52 billion dollars) regstered a drop by 12.2% against the same period of 2023, due to the drop of Romanian export by 0.12 billion USD (-60.4%) while imports from this country reached 0.40 billion USD (+36.8%). According to the National Bureau of Commercial Register (ONRC), on June 30, 2024, 289 Korean companies with a social capital of 123.4 million USD, 0.19% of all foreign investments, were registered in Romania placing Korea 31st among countries investing in Romania. (Photo:https://www.facebook.com/)
This article series tells the stories of the 15 finalists selected in the BVB Arena program. BVB Arena is the flagship program of the Bucharest Stock Exchange, dedicated to developing and promoting the Romanian entrepreneurial environment. The program’s goal is to select and promote Romanian companies that have the greatest growth potential and high chances […]
Salt Bank, the first 100% digital Romanian bank built entirely from scratch, has been named by Celent as the 2025 Model Bank for Digital Bank Launch. Celent is one of the world’s most prestigious research and advisory firms focused on technology for financial institutions. By receiving the title of "2025 Model Bank for Digital Bank […]
The 8th edition of the national educational program “Healthy Lifestyle, Diverse Nutrition and an Eco-Responsible Attitude” under the motto “Good for Taste, Good for Health, Good for the Planet!” has concluded. The program was organized by the Taste Celebration Association and funded by the Auchan Foundation with 100,000 euros. The program aims to convey to […]
Romania's budget deficit, meaning the gap between revenues and expenditures, reached 3.39% of GDP after the first five months of the year, while the new government grapples with balancing initiatives. The deficit increased compared to the first four months, when it stood at 2.95% of GDP, and remained roughly stable compared to the first five […]
eLog, a Balkan-based provider of reusable transport packaging systems for the retail sector, has entered the Romanian market by leasing 4,000 sqm of warehouse and office space at CTPark Bucharest North. The facility, developed by CTP, will serve as eLog’s first operational hub in Romania, supporting its expansion into local retail logistics. Specializing in Retail […]
More than three-quarters of Romanians (76%) see Artificial Intelligence as an opportunity for the economy and society, although half of them also acknowledge its risks, according to a new RoCoach and Novel Research study. Overall, over one-third of respondents (35.7%) believe that AI will primarily lead to job losses, even if new types of roles […]
