Korean companies promote themselves via nuke summit

With 53 heads of state attending the 2012 Nuclear Security Summit in Seoul Monday and Tuesday, Korean companies utilized the global event as an opportunity to promote themselves.

Since the national leaders had tight schedules, Korean companies used ongoing projects to make their presence felt by introducing their projects and affiliates while showing the leaders their business sites.

SK Group Chairman Chey Tae-won personally escorted Thai Prime Minister Yingluck Shinawatra to the SK Hynix factory in Icheon, Gyeonggi Province and talked of SK C&C’s flood prevention system and SK Innovation’s electric car batteries. Chey apparently had in mind that Bangkok was hit by floods last year and that many Japanese carmakers produce car parts in Thailand. The chairman also proposed to Shinawatra a partnership with Malaysia to invest in SK Innovation’s electric car battery system.

POSCO Chairman Chung Joon-yang was also active over the past several days. He held talks with Indian Prime Minister Manmohan Singh Sunday and Australian Prime Minister Julia Gillard and Indonesian Industry Minister M.S. Hidayat on Monday. On Wednesday, Chung will host meetings with Indonesian President Susilo Bambang Yudhoyono and Pakistani Prime Minister Yousaf Raza Gillani. India, Australia, Indonesia and Pakistan have iron ore mines or have prospects to cooperate with Korea`s largest steelmaker. In particular, Singh is known to have expressed his willingness to cooperate in the construction of POSCO’s steel mill in the Indian state of Orissa, which has been delayed due to opposition from Orissa residents.

Samsung Heavy Industries President Noh Yin-sik and British Deputy Prime Minister Nick Clegg held 20-minute talks at Samsung headquarters in Seoul. Samsung signed a memorandum of understanding with Scottish Development International on an offshore wind farm development project in January. A company source said, “It was a very short time in which they could only have tea, but the meeting will be very helpful for the project.” Samsung Electronics Vice President Kang Ho-moon met King Abdullah II bin al-Hussein of Jordan at a place near the Seoul COEX Monday, and company president Shin Jong-kyun escorted New Zealand Prime Minister John Key to Samsung Digital City and introduced him to the company’s products such as the Galaxy Note and an electronic blackboard solution.

Business organizations were also busy promoting Korean companies. The Korea Chamber of Commerce and Industry held an investment forum Monday to help Doosan Group Chairman Park Yong-man and Hyundai Engineering & Construction President Chung Soo-hyun meet Nigerian President Goodluck Jonathan. The Federation of Korean Industries held an economic cooperation committee between Korea and Finland, with Finnish President Sauli Niinisto attending.

tesomiom@donga.com