IIC Signs A Memorandum Of Understanding With The Korea Chamber Of Commerce And Industry (KCCI)


Agreement will create a general framework to promote economic cooperation between Korea and the IIC to support Latin American and Caribbean SMEs

Seoul, Korea - On May 28, 2007, the Inter-American Investment Corporation (IIC) signed a legally non-binding Memorandum of Understanding with the Korea Chamber of Commerce and Industry (KCCI) that will provide support to small and medium-size companies in Latin America and the Caribbean, and foster institutional networking and capacity building in the international trade area.

KCCI is Korea’s largest business organization and encompasses a total of 71 local chambers and approximately 45.000 members from all sectors of the Korean economy, contributing significantly to the growth and the development of the national economy, and the enhancement of Korea’s status in the international community.

The fields of cooperation between both institutions may include, among others: the promotion of economic development in the region and the support of private sector development and partnership; networking activities and sharing of international experience to strengthen institutional knowledge; the exchange of data, studies, reports and publications on subjects and issues of common interest; the organization of conferences and seminars to disseminate the parties’ mandate; and the identification of potential business opportunities between private sector enterprises of Korea and the countries of the region.

The signing ceremony took place at KCCI headquarters. Mr. Kyung-Shik Sohn, Chairman, signed for the Korea Chamber of Commerce and Industry (KCCI), while Mr. Jacques Rogozinski, General Manager, signed for the IIC.

The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. The IIC's mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. For more information on the IIC's activities, visit its Web site at www.iic.int.

Contact: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org