Hong Kong, Korea ink deal to promote economic cooperation

The deal aims to promote trade between respective markets.

The Hong Kong Trade Development Council (HKTDC) has signed a memorandum of understanding with the Korea Trade-Investment Promotion Agency (KOTRA) in an effort to promote economic cooperation between the two countries last November 15.

Under the deal, HKTDC and KOTRA will be able to freely exchange information on economic cooperation, trade facilitation and share business opportunities in their respective markets.

The sectors covered under the memorandum include creative industries, service industries, start-ups, technology, lifestyle products, food, toys, gifts and housewares.

Korea is Hong Kong’s sixth largest trading partner and fifth largest source of imports.