Enterprise Ireland
Annual Report and Accounts 2004
Annual Report and Accounts 2004
The Enterprise Ireland Trade Mission to Japan and Korea in 2004 marked the first in a series of new initiatives to refocus and strengthen Ireland’s trade with Asian markets. The mission, led by Mr Micheál Martin, TD, Minister for Enterprise, Trade and Employment, aimed to raise awareness of Ireland at government and business level in these two strategically important markets. The mission was also used to further partnerships and sales opportunities for Irish companies with organisations in both countries.
In total, 40 companies participated on the mission to Seoul and Tokyo, primarily from the IT, education, telecoms, engineering services, seafood sectors and online games. Participants held individual consultations with Japan’s and Korea’s leading companies, introducing their products and services to potential buyers.
During the mission a new promotion programme for international education services, led by Enterprise Ireland and the International Education Board of Ireland, was launched in both Korea and Japan. International Education is one of the fastest growing areas in the international services sector worldwide and holds great potential for Irish education providers. In 2003 / 2004, foreign students in Irish colleges generated €300 million, with growing numbers from Korea, Japan, China and India.
Enterprise Ireland’s new office in Seoul was opened during the mission. At the opening ceremony Enterprise Ireland also exchanged a memorandum of understanding with the Korea Game Development and Promotion Institute to facilitate joint business ventures in the games industry. Korea has a highly developed games market, worth $1.27 billion, and there is considerable potential for Irish companies to exploit opportunities opening up in Europe and North America through Korean partnership arrangements.
The Japanese market is the second largest economy in the world. In the past it has been difficult to break into this market due to protectionism and cultural barriers but it has changed and internationalised in recent years. The challenge now is to exploit the new opportunities emerging as Japan opens up to foreign imports.
South Korea is the world’s 12th largest economy and has a population of nearly 50 million. There is very little awareness of Ireland within Korea, but beginning with this trade mission Enterprise Ireland has initiated a new campaign to highlight Ireland’s capabilities and the products and services of Irish suppliers in the market.
