IIC Links up Peruvian and Korean SMEs for Joint Business Opportunities

08/25/2014

Lima, Peru, August 25, 2014 — Close to 100 Peruvian and Korean small and medium enterprises (SMEs) have participated in a business-to-business event in Lima, Peru, designed to spur collaboration and forge partnerships between companies from both sides of the Pacific. The networking event drew diverse participants from a wide range of fields spanning from intelligent health management to transportation solutions.

“The Korean entrepreneurs here in Lima today have an active interest in exploring partnerships and business opportunities with their Peruvian counterparts, with many of them aiming to set up joint ventures to work on specific topics where they hope to leverage local expertise,” noted Jorge Roldán, IIC Technical Assistance and Strategic Partnerships Division Chief. “Networking events like these provide fertile ground for future business partners to meet and find out how they can work together to the mutual benefit of their companies.”

Among the Korean enterprises at the event was the Korea Digital Hospital Export Agency (KOHEA) from Seoul. The company works on the convergence of information technology and the medical industry and offers integral solutions ranging from hospital design and construction, medical equipment and IT solutions to medical services, education and training.

Kil Hyun Cho, manager with KOHEA, said: "I am convinced our conversations today are an important step towards the business relationships we seek to establish. Through this event we met a number of Peruvian institutions working precisely in the sectors we are interested in and where we can contribute our expertise and experience."

The Lima event was organized by the Inter-American Investment Corporation (IIC) and the Korean Council on Latin America and the Caribbean (KCLAC) and received organizational support from the Lima Chamber of Commerce and the National Federation of Private Enterprises  (CONFIEP).

Business-to-business events are part of a larger IIC strategy that aims to strengthen ties between Korean and Latin American SMEs. An event last week in the Dominican Republic drew a total of 130 participants and a further two events with KCLAC were held in September 2013 and May of this year.

About the IIC

The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees, as well as innovative technical assistance, advisory services, and knowledge products. In 2013, the IIC approved 71 operations totaling US$415.4 million. Since its inception in 1989, the IIC has approved more than 800 direct loans to SMEs and financial intermediaries, for a total of US$5.21 billion. An additional US$3.01 billion has been mobilized through cofinancing and syndication agreements. For more information on IIC activities, visit www.iic.org.

Contact: Jorge Roldán

Telephone: +1 (202) 623-3362

Email: jorgero@iadb.org