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Following is the speech by the Chief Executive, Mr Donald Tsang, at the reception to celebrate the 60th Anniversary of the Republic of Korea at Island Shangri-La Hong Kong, Admiralty, this evening (October 8):
Consul General (Seok Tong-youn), Distinguished Guests, Ladies and Gentlemen,
Good evening. I'm delighted to join you to celebrate the 60th Anniversary of the Republic of Korea.
Hong Kong and the Republic of Korea enjoy a long history of strong bilateral relations covering a broad spectrum.
As two of the most dynamic and advanced societies in Asia, I am confident that our relationship will continue to flourish.
Hong Kong people are very familiar with Korean products, Korean technology, Korean culture and entertainment ˇV all of which are popular here. Hong Kong is the fourth largest export market for Korea, and Korea was our sixth largest trading partner last year.
Our bilateral trade grew at an average annual rate of almost 9% between 2003 and 2007, and expanded 7% in the first half of this year.
Hong Kong is also a well-established launch pad for Korean companies doing business in the Mainland of China. Last year, US$14.5 billion worth of trade between the Republic of Korea and the Mainland was routed through Hong Kong.
More than 600 Korean companies have established a base in Hong Kong including some of the world leaders in electronics, banking and other financial services. There is room for more Korean companies to join them and enjoy the benefits of low taxes, easy market access, international connections and world-class services.
Hong Kong is a home-away-from-home for about 12 000 Koreans. They have brought with them some of the unique Korean culture, values and of course, some wonderful Korean cuisine.
The Korean International School is celebrating its 20th Anniversary this year. KIS takes students from all backgrounds and is an integral part of our international school sector.
An indication of the closer relations between the two places was the establishment of the Korea-Hong Kong Friendship Association last year, to foster cultural ties between the two communities.
Tourism is another growth area, with some 870 000 Koreans visiting Hong Kong last year, and more than half a million Koreans making up a trip in the first seven months of this year.
I also take this opportunity to congratulate your country on its impressive performance at the Beijing Olympics. The Republic of Korea finished seventh in the medals table with 13 gold medals and 31 medals in total.
As a co-host city for the Beijing Olympics, we were thrilled by the successful staging of the Olympics on Chinese soil for the first time. After all, Seoul knows what it takes to stage a successful Olympic Games as host of the 1988 Summer Games.
The Olympic and Paralympic Equestrian Events in Hong Kong went smoothly and won wide acclaim from the competitors and our overseas visitors. We were privileged to play such a high-profile role in the Beijing Olympics and it signalled a new era for Hong Kongˇ¦s integration within our nation.
We welcome more Korean business people and their families to come to Hong Kong and contribute further to our vibrant cultural mix of East and West.
Tonight we celebrate the 60th Anniversary of the Republic of Korea. We also celebrate the Olympic spirit, which our two nations share, and we celebrate the friendship between Hong Kong and Korea.
Please join me in a toast: To the people of the Republic of Korea. Consul General, ladies and gentlemen, cheers.
Ends/Wednesday, October 8, 2008
Issued at HKT 19:30
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