S. Korea seeks to lure Hong Kong capital

South Korea urged investors in Hong Kong Tuesday to invest in Asia's fourth-largest economy by offering a variety of incentives in an effort to lure more foreign capital. The South Korean Ministry of Knowledge Economy held a national investor relations (IR) session in Hong Kong, designed to draw in Hong Kong-based large-scale funds and other capital. South Korean officials, led by Knowledge Economy Vice Minister Kim Jung-gwan, laid out various incentives in the session, which was composed of presentations, panels and one-on-one meetings. "The purpose of this IR session is to inform financial investors of opportunities in the Korean private equity, venture capital and real estate markets, and to strengthen regional cooperation in the finance industry," said Kim. Private business meetings were also held between members of the South Korean government delegation and Hong Kong investors. Hong Kong has been South Korea's fourth-largest export market after China, the U.S. and Japan, while South Korea is Hong Kong's sixth-largest. Bilateral trade between the two economies amounted to over US$24 billion in 2010. The South Korean government is scheduled hold a similar session in Singapore on Wednesday.