Last month we at UKTI were honoured to host His Royal Highness The Duke of Gloucester to Seoul. As part of the His Royal Highness’s busy schedule he presided over the signing of the ‘Chamber’s Initiative’ MoU between UKTI South Korea and the British Chamber of Commerce in Korea (BCCK).
The agreement marks a large step in changes to the ways UK companies can find support for their business here in Korea, and it also reflects the consistently close ties between UKTI and BCCK here in Korea.
We spoke to the man who helped put this new agreement into place, and who has helped the BCCK establish itself as such a vital fixture on the Seoul Business landscape, BCCK chairman Michael Reed, who kindly took the time to answer a few of our questions.
Thanks you for speaking to us today Mr. Reed. Can you tell us a little about the BCCK’s role in Korea, and your role within it?
BCCK has been active in Korea since 1977 and currently has a membership of 190. It promotes the development of British Trade, Commerce and Investment in Korea and over the years has developed into an important representative organisation for British interests in Korea. The Chamber employs only one full time employee and, thus, depends on the regular contribution of time and experience of its Executive Committee and the Chairman, who occupies a key role in coordinating those activities together with developing links with the 15 or so other Chambers in Korea.
The recent MoU signing marks a significant shift in UKTI’s and BCCK’s relationship and roles. What are you most ‘excited’ about now looking to the future of the chamber?
UKTI and BCCK have a long history of working together closely and we see great benefits for both parties with this new initiative. We are excited that this MoU now formalises the ever closer relationship and the expected significant increase in resources available to the Chamber which will enable us to professionalise the operation and to broaden our spheres of knowledge and influence.
Should companies worry that the new arrangement might complicate the process for them? A case of too many cooks?
Not at all, the number of cooks will not change and the incoming British interests will now be offered a unified, “one stop” service which will greatly ease their decision process.
BCCK already offer support for many companies in Korea. Can they expect to see any benefit from BCCK’s expansion?
As I’ve already outlined above, the Chamber currently relies heavily on the part time input of its Executive Committee. The move to an entity employing more full time employees with detailed corporate, commercial knowledge allied to an understanding of the Korean market will improve the professionalism and range of services that the Chamber can offer.
Thank you for your time talking with us today. Is there any message you have to UK firms about the Korean market in general?
Korean companies have always seen the UK as an alternative to their heavy involvement with Japan, China and the US and, in some senses, the UK presence on the ground in Korea has not fully reflected the level of interest by these larger Korean enterprises. Correctly structured foreign affiliates can perform very well in Korea and the UKTI/BCCK initiative will provide an excellent platform for companies looking to exploit this opportunity.
To find out more about the BCCK and membership, take a look at their website - http://www.bcck.or.kr/
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