Page 8


agenda


BRITISH FASHION FINDS FAVOUR IN SOUTH KOREA

(Photo of British fashion)

(Photo captioned: Barbara Wilson, international trade adviser of UKTI’s London International Trade Team, speaking at the networking reception)

Nine major UK fashion and retail companies were recently welcomed in Seoul, South Korea by major buyers, to discuss future business opportunities with the help of UK Trade & Investment’s London International Trade Team.

Major fashion names, including Cath Kidston, Lulu Guinness, Orla Kiely and Harrods, attended the five-day trade mission, which aimed to help launch their brands in this expanding region. Giving insight into the Korean market, the visit included a networking reception with 100 fashion industry insiders, as well as one-to-one meetings with carefully selected Korean companies. Finally, an interview with a major business fashion magazine helped increase their profile in the country.

Commenting on the UK trade mission, Peter Thewlis, international director Asia of Cath Kidston, said: “We were able to meet a good cross section of the businesses and form a strong set of potential partners with whom we are now in further discussion. We anticipate starting up in the Korean market quite soon.”

Kyungah Lee, UK Trade & Investment fashion specialist, said: “South Korea’s wealthy brand-reliant population offers excellent opportunities for UK fashion brands. It has already embraced many UK brands such as Burberry, Paul Smith and Body Shop, demonstrating that this year’s missioners stand a good chance of succeeding in this lucrative market.” She added: “With the Korean economy predicted to grow by five per cent this year and with the recent signing of the EU-Korea Free Trade Agreement, resulting in 97 per cent of all tariffs being removed, more opportunities should arise for UK companies.”

Contact soomee.moon@fco.gov.uk


Winner takes green

As work progresses on the Olympic Park build, the Foreign & Commonwealth Office is launching a film, Going for Green, to highlight how the infrastructure developments are being constructed to meet environmental and sustainable standards. Released this month, the film tracks progress up to the point where the capital enters the last 18 months before the start of the 2012 London Olympic Games.


Music to our ears

Gary Barlow’s company Future Records and Robbie Williams’ management firm iE Music were among 28 industry players that participated in a visit to Japan under the leadership of UK Trade & Investment and the BPI. The UK music industry hopes to grow its US$2 billion exports in Japan, which is the second-largest music market in the world.

Feargal Sharkey, chief executive of UK Music, said: “The UK is a world leader for music, and we are one of only three countries in the world who are net exporters of repertoire. Quite justifiably, BPI/UK Trade & Investment trade missions have gained a reputation for playing a significant role in that remarkable accomplishment.”