Asiana exec en­cour­ages co­op­er­a­tion with China

JoongAng Daily - - Front Page - BY SONG SU-HYUN ssh@joongang.co.kr

Park Sam-koo, chair­man of Kumho Asiana Group, called for fu­ture-ori­ented eco­nomic co­op­er­a­tion be­tween Korea and China and stressed the need to fi­nal­ize the Korea-China free trade agree­ment at a meet­ing of chief ex­ec­u­tives from ma­jor busi­nesses in the two coun­tries.

“It was a good op­por­tu­nity for both sides to talk about mea­sures to share prof­its with each other and pre­pare agen­das that are highly likely to be car­ried out,” Park said after pre­sid­ing over the meet­ing in Beijing on Satur­day.

About 26 ex­ec­u­tives at­tended the Korea-China CEO Round­table, co­hosted by the Fed­er­a­tion of Korean In­dus­tries (FKI) and the China In­ter­na­tional Coun­cil for the Pro­mo­tion of Multi­na­tional Cor­po­ra­tions.

Korean business moguls in­clud­ing Han Duck-soo, chair­man of the Korea In­ter­na­tional Trade As­so­ci­a­tion; Lee Se­ung-cheol, vice chair­man of the FKI; Kwon Oh-joon, chair­man of Posco; Kang Ho-moon, vice chair­man of Sam- sung Elec­tron­ics; Choi Sung-ki, pres­i­dent of Hyundai Mo­tor; Lee Eo-ry­ong, chair­man of Daishin Se­cu­ri­ties; and Kim Sung-joo, chair­man of Sungjoo Group, took part in the meet­ing.

“Busi­nesses from the two coun­tries will do our best to es­tab­lish a friendly part­ner­ship in var­i­ous fields rang­ing from fi­nance to com­mu­ni­ca­tions to cul­ture,” Park said. “This will be based on an ef­fec­tive free trade agree­ment be­tween the two coun­tries.”

It is the third time the meet­ing has been held and the sec­ond time Park has presided over it. He has served as the chair­man of the Korea-China Friend­ship As­so­ci­a­tion since 2005 and has met Chi­nese gov­ern­ment of­fi­cials in­clud­ing cur­rent Pres­i­dent Xi Jin­ping, for­mer Pres­i­dent Hu Jin­tao and for­mer Premier Wen Ji­abao.

“The chair­man is cred­ited with play­ing a key role in ex­pand­ing diplo­matic chan­nels in the pri­vate sec­tor and in­creas­ing business and cul­tural ex­changes be­tween the two coun­tries,” a state­ment from Kumho Asiana Group said. With Black Fri­day three weeks away, cost-con­scious shop­pers are look­ing to take ad­van­tage of the United States’ big­gest shop­ping sea­son.

The Fri­day after Thanks­giv­ing is no longer a hol­i­day just for U.S. con­sumers as Kore­ans will also be en­joy­ing the day’s spe­cial deals through over­seas di­rect pur­chas­ing sites and shipping agents that fa­cil­i­tate pur­chases from re­tail jug­ger­nauts such as Ama­zon.

When­ever a new ma­jor Black Fri­day sale is an­nounced by U.S. re­tail­ers, the news goes vi­ral on por­tal web­sites and the bl­o­go­sphere. On­line fo­rums cater­ing to bar­gain hunters are flooded with post­ings on tips about how to get the best deal on Nov. 28.

The most-dis­cussed deal on­line yes­ter­day was an ad­ver­tise­ment from Sears for big dis­counts on home ap­pli­ances man­u­fac­tured by Sam­sung and LG Elec­tron­ics.

On Black Fri­day, Sears will sell Sam­sung’s 55-inch full HD TV (Sam­sung 55” 1080p Smart LED HDTV) for $599.9 while the same prod­uct in Korea sells for 1.4 mil­lion to 1.6 mil­lion won ($1,288 to $1,472). The TV’s ini­tial launch price in the U.S. was $1,199.99.

The 60-inch 3-D model will be on sale for $1,300, down from about $1,700.

Ac­cord­ing to shipping company Mall­tail, the amount of pur­chases by Kore­ans di­rectly from for­eign web­sites over the U.S. shop­ping pe­riod has grad­u­ally in­creased. In 2012, the num­ber of trans­ac­tions be­tween Black Fri­day and Cy­ber Mon­day was 27,000 but the fig­ure surged to more than 40,000 last year, a 48 per­cent in­crease. Mall­tail ex­pects this year’s trans­ac­tions to dou­ble last year’s.

The to­tal amount spent on over­seas shop­ping last year sur­passed 1 tril­lion

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