INCHEON, KOREA - Nearly 235 officials from 53 countries and about 50 Korean energy and environment companies will take part in the Global Green Hub Korea (GGHK) 2014, scheduled for May 21-23.
The Ministry of Environment of S. Korea will hold the Global Green Hub Korea (GGHK) 2014 on May 21-23 at Songdo Convensia in Incheon.
The GGHK 2014, designed to help Korean energy and environment companies clinch overseas deals and to reinforce ties with key officials from overseas order-placers, will be attended by nearly 235 officials from 53 nations and approximately 500 Korean energy and environment companies. The GGHK 2014, the largest domestic event dedicated to inviting overseas order-placers to the nation, is anticipated to unleash a wave of trade consultations worth KRW 148 trillion.
In particular, as the GGHK 2014 is scheduled to coincide with the seventh meeting of the Board of the Green Climate Fund (GCF), slated for May 18-21, the GGHK 2014 will serve as a great opportunity to show off the nation’s new technologies aimed to tackle climate change in front of officials from nearly 300 environmental NGOs around the world.
Above all, the GGHK 2014 is a government-wide cooperation project, jointly hosted by the Ministry of Strategy and Finance, the Ministry of Trade, Industry and Energy (MOTIE) and the Incheon Metropolitan City government.
In 2012, the Ministry of Environment and MOTIE consolidated trade consultation events, which had been separately run by government-affiliated organizations the Korea Environmental Industry & Technology Institute (KEITI) and Korea Trade-Investment Promotion Agency (KOTRA). Since then, two ministries have been launching trade consultation events in an integrated fashion, therefore successfully cementing the GGHK as an international brand project. The GGHK 2014 will set a great example of how organic cooperation between different ministries can produce tangible results to a greater degree.
The GGHK 2014, a comprehensive event ranging from trade consultations and exhibitions to presentations on overseas projects by region and consultations on ways to finance overseas projects, will lay the foundation for domestic companies to win overseas projects in a smooth manner. The Green Forum, scheduled for May 22, will be attended by international dignitaries and world-renowned scholars from the global energy and environment sector. Attendees to the Green Forum, including Hela Cheikrouhou, Executive Director of the GCF Secretariat, and Darren Messem, International Director at the UK-based Carbon Trust, will share their concerns about energy and environmental issues and jointly seek ways to address such issues.
What’s more, presentations by region (ASEAN, East Europe, Latin America, the Middle East and Africa) will be made to help domestic companies make differentiated approaches toward business opportunities arising from each region. Updates on major nations’ plan to place orders and on how Korean companies can participate in the bidding for oversea projects will also be on offer.
Approximately 500 domestic companies will hold customized, one-on-one meetings with officials from overseas institutions in five different sections: water treatment, waste and air pollution, renewables, energy efficiency and others. Government officials from major economies and officials from large-scale order placers will have consultations with domestic companies over multi-million dollar contracts.
And international financial institutions, like the African Development Bank (AfDB), the Inter-American Development Bank (IDB) and the World Bank's International Finance Corporation (IFC), and domestic export financing institutions will furnish Korean SMEs with consultations on how to finance their overseas ventures. To galvanize domestic companies’ push for oversea market entry, ways to strengthen cooperation among environmental industries will also be thrashed out at bilateral cooperation meetings with officials from major overseas markets. “The GGHK 2014 will lay the groundwork for Korean SMEs to make inroads into overseas markets,” said Minister of Environment Yoon Seong-kyu.
The GGHK 2013, attended by officials from 213 overseas order-placers in 56 nations and 229 Korean environmental companies, resulted in participating domestic companies clinching deals worth KRW 126.5 billion. The GGHK 2014, an improvement on its predecessors in terms of scale and the number of programs, is expected to bear much more fruit this year.
