Europe's largest biz network opens to S. Korea

SEOUL, Aug. 26 (Yonhap) -- South Korea will be able to consult Europe's largest
business network under an agreement that could pave the way for more local firms
to access the European market, a commerce body here said Wednesday.

The Enterprise Europe Network (EEN), launched in 2008 by an initiative of the
European Commission, will give South Korean companies broader opportunities in
the European market starting in October, the European Union Chamber of Commerce
in Korea (EUCCK) said in a statement.
The EUCCK, which became a member of the network in December, expects the move
will help South Korea coordinate tie-ups with European Union firms.
The EEN deals with some 600 partner organizations in more than 40 countries,
offering support and advice to entities doing business in Europe, including small
and medium enterprises and research centers.
On July 13, South Korea and the EU concluded their two-year long free trade
negotiations. The deal is expected to boost bilateral trade by as much as 20
percent.
The EU was South Korea's second-largest trading partner after China last year. In
2008, two-way trade totaled US$98.4 billion with South Korea enjoying a surplus
of $18.4 billion.
The EU was also the biggest investor in South Korea last year with its
accumulated investment totaling $44.82 billion.
ygkim@yna.co.kr
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