The Qatari Businessmen Association meets with the Korean Chamber of Commerce & Industry

25 Oct 2021 QBA Office

QBA Members attended

The Qatari Businessmen Association had a meeting with the Korean Chamber of Commerce and Industry (KCCI), in the presence of Mr. Woo Taehee, KCCI Executive Vice Chairman, and his accompanying delegation. The delegation included major Korean companies such as Samsung Heavy Industries, Hyundai Engineering and Construction, Bioneer Corporation and Samjin Precision Co., Ltd. The visit aims at studying the needs of the Qatari market, discussing opportunities for partnership and cooperation, and identifying the value added services Korean companies can provide to the Qatari market.

From the Qatari Businessmen Association, Sheikh Faisal bin Qassim Al Thani, QBA Chairman attended the meeting along with Mr. Hussein Al Fardan, QBA First Deputy. Also, Mr. Sherida Al Kaabi QBA Board member. From QBA Members, Sheikh Faisal bin Fahd Al Thani, Mr. Khalid Al mannai and Mr. Ihsan Al Khiyami attended the meeting as well as Ms. Sarah Abdallah, QBA Deputy General Manager.

At the beginning of the meeting, Sheikh Faisal bin Qassim Al Thani welcomed the Korean delegation and stressed out the need for the Qatari and Korean parties to cooperate, especially now when everyone – especially the private sector – is eager to re-activate the production and innovation cycle. He also pointed out the importance of exploring opportunities for cooperation and partnership, where he also highlighted the interest of the Qatari businessmen to study opportunities for investments in the Korean market and discover ways where the Qatari Market can benefit for the Korean technology and innovation.

For his part, Mr. Woo Taehee, KCCI Executive Vice Chairman, thanked Sheikh Faisal and QBA Members for this meeting, pointing out the interest of Korean companies in the Qatari market, adding that this visit is the second for the members of the Chamber, as the previous visit was organized in 2015. Mr. Woo praised the development he witnessed in Qatar since the first visit, stressing out that the bilateral cooperation between the two sides need to expand and include various sectors to achieve mutual benefit for both parties. The two parties agreed on the idea of forming a small working group that includes members from the Korean Chamber and the Qatari Businessmen Association to follow up and study projects and potential partnership opportunities.

During the meeting, Mr. Woo requested the Korean companies to introduce themselves and provide a brief overview. The delegation started with Samsung Heavy Industries, which was established in 1974 and is a leading company in the field of shipbuilding and gas tankers, The company has developed and built the world's first Arctic shuttle tanker and LNG FPSOs and has pioneered new markets by developing innovative products such as the various ships for polar regions, Arctic ice-breakers and container ships.

The delegation also included Hyundai Engineering and Construction, the first Korean construction company to invest abroad, established in 1974 and operates in more than 62 countries with more than 850 international projects and has been present in the Qatari market for 40 years. Another member of the chamber introduced his company, Bioneer Corporation, a company operating in the field of biotechnology since 1992, as the first Korean company working in the field of biotechnology. The company has developed modern products and technologies in the field of molecular biology.

And finally, Samjin Precision Co., a leading manufacturer of high-quality valves in South Korea. Founded in 1991, it has been providing smart solutions to major oil and gas, petrochemical, power and water treatment companies
For his part, Mr. Hussein Al-Fardan, welcomed the delegation, expressing his support for the efforts of the Qatari private sector in exploring investment and cooperation opportunities not only in the local market, but also regionally and globally, adding that Qatar has the capabilities that allows the country to be the ideal gateway to the global market, stressing out the readiness of the private sector and the Qatari businessmen to partner with their counterparts in Korea and lead successful engagements.

At the end of the meeting, Sheikh Faisal bin Qassim praised the idea of creating a working group that comprises of both parties, with the aim of studying the multiple investment opportunities, pointing out the importance of the continuation of discussions between the two sides post this meeting, in order to fulfil actual results.