Korea Seeks To Convey Their Form Of Economic Development

Global Peace Foundation
June 18, 2014

The following is an unofficial transcript, the original article appears in Spanish. 

In order to transmit the Paraguayans the economic development model of Korea, known as “know-how” in both construction works of social capital and knowledge, was held yesterday at the Hotel Bourbon, The First International Symposium “Towards an Alliance between Paraguay and Korea. ” was held at the Hotel Burbon to transfer to Paraguay the “know-how” that Korea has garnered from its economic development model based on social capital construction projects.  The packed event was organized by the Global Peace Foundation and IDPPS.

Guest speakers included Carlos Fernández Valdovinos, president of the Central Bank of Paraguay, and Minister of Planning and Economic and Social Development, José Molinas. They presented favorable figures of local economic growth, inviting both Korean speakers to make major infrastructure business in the country.

Speakers from abroad included Woo-Hyun Cho, former Minister of Construction and Transportation of Korea, and Son Hak-Lae, former president of Korea Expressway Corporation.

Also present were President of Woori Bank, and directors of Shinhan Bank, Asset Management Asia, Korea Rail Network International Railway and president of Il-Sung Construction Company.

Operational Platforms

Organizers said the main objective of the meeting was to create permanent platforms and protocol that would stimulate present and future relations with Paraguay and Korea, as well as create new business opportunities.

The senator and president of the NRA (National Republican Association), Lilian Samaniego, and former President, Juan Carlos Wasmosy, were also present at the symposium.

According to media representatives, the symposium was a joint effort between Hyun Jin Moon, chairman of the Global Peace Foundation, and Jose Altamirano, director of IDPPS, in order to facilitate mutually beneficial economic exchange between the two economies.

National authorities highlighted the advantages that the country, sovereign bonds will be placed on the U.S. market, after the approval by Congress of the law authorizing the issuance thereof.

They said the underwriters of the securities will be the Bank of America and JP Morgan. They explained that in the debut of Paraguay 2013, it had received 11 times bids totaling U.S. $ 5,573 million, with 197 foreign investors making offers.

For the original story in Spanish: Visit La Nacion: http://www.lanacion.com.py/articulo/168306-corea-pretende-transmitir-su-…

Original Article by Ana Antunez (@AnaAntunezVeron)

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