INDUSTRY MINISTRY OF BELARUS AND KOREAN CARMAKERS DISCUS COOPERATION PROSPECTS
 The Industry Ministry of Belarus and Korea’s carmakers are discussing the cooperation prospects, Prime Minister of Belarus Sergei Sidorsky said at a meeting with representatives of the Korean companies on March 24. “The Industry Ministry of Belarus is actively studying the possibilities of cooperation with Korean carmakers,” Sergei Sidorsky said. Under consideration are various variants of coloration ranging from starting the production of separate components to manufacture of mid-tonnage trucks, the Prime Minister said.
According to the Prime Minister, during his last visit to Korea at the end of 2007 the sides discussed participation of Korean companies in financing investment and innovation projects in Belarus. First thing this pertains to the projects in energy and banking areas, pharmacy. All in all, more than 10 projects were presented to the Korean side for consideration.
Sergei Sidorsky also said that Belarus actively cooperates with other Korean companies, for example LG. “We have agreed with the LG company president for the CIS countries to meet in Minsk to discuss setting up the production of LCD-panels in Belarus. Our contracts with LG are being executed; first sets of LCD-panels have been supplied to Integral where they are assembled,” the Prime Minister said.
Attending the meeting were representatives of such Korean companies as Goodmorning Shinhan Securities, SK E&C (SK Engineering & Construction Co., Ltd), ÊÅÐÑÎ (Korea Electric Power Company). Goodmorning Shinhan Securities is one of the leading broker and investment-banking institutions of Korea. SK E&C is the leader in the construction industry. The major projects implemented by the company is Seoul-Busan high-speed railway, oil refinery ad also oil refiners in Kuwait, Brazil, Ghana and other countries. KEPCO is the only electricity supplier in Korea. Oversees activity of the company is related to investment in energy-related projects.
Belarusbank and Korea’s Goodmorning Shinhan Securities are set to sign a memorandum of cooperation. Such agreement was reached during a meeting between Prime Minister of Belarus Sergei Sidorsky with representatives of Korean companies.
Goodmorning Shinhan Securities is one of the leading investment companies of the Republic of Korea. The company was founded in 1973 and became part of Shinhan Financial Group in 2002 by means of the merger between Goodmorning Securities and Shinhan Securities. Goodmorning Shinhan Securities capitalization is estimated at $5.5 billion.
Shinhan Financial Group has 11 subsidiaries, 21 offices in 8 countries. The corporation is the second largest financial institution of the Republic of Korea, one of the leading financial corporations of Asia and is on the list of 100 world largest banking and financial institutions.
The company aims to become a powerful investment-banking system and a leading world player on the market of financial services in the long-term.
In 2006/2007 the company reported profits of $1,3 billion, net after-tax profits $102,3 million. The company has 1,292 branches in South Korea engaged in insurance and investment activities, securities and banking card business.
Goodmoming Shinhan Securities seeks to advance onto the CIS market, Belarus as well, to take part in investment projects of Belarusian organisations.
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