Ontario eager for technology ties

Kathleen Wynne, premier of Canada’s Ontario province, visited Seoul with a delegation of 46 business and academic leaders from Dec. 1-3 to improve ties in technology.

Ontario is the country’s largest province by population and economy. With gross domestic product exceeding $550 billion, more than a third of Canada’s total, Ontario’s economy is global in scale.

“The Republic of Korea’s economy is growing and this mission is an opportunity for us to build new relationships and lay the foundation for future partnerships and agreements,” said Wynne.

“Ontario and the Republic of Korea are already partners in many important economic sectors, including manufacturing and information and communications technology.

“By connecting more of our Korean and Ontario business leaders, innovators and investors, we can open the door for more collaboration and pave the way for more innovative ideas and technologies.”

According to the Embassy of Canada, the visit was to create opportunities in various sectors including innovation, automotive, aerospace, manufacturing, and information and communications technology.

On Dec. 1, Ontario hosted a contract signing ceremony for agreements between businesses and institutions from the Republic of Korea and Ontario.

After the signing ceremony, Premier Wynne delivered a keynote address at an economic luncheon organized by the Canadian Embassy and the Canadian Chamber of Commerce in Korea.

The address focused on the Republic of Korea’s and Ontario’s productive economic partnership and opportunities for Korean businesses to continue to grow internationally by investing in Ontario.

Korea-Ontario trade reached almost $4.4 billion last year.

“Ontario’s diverse economy, competitive corporate tax rate, strong financial sector and highly educated workforce make it one of the best places in the world to do business,” an embassy spokesman said.

“Ontario has the lowest business costs in the G7.”

Canada and Korea signed a free trade agreement in 2015.