The UK-Korea Forum for the Future

Twelfth Annual Meeting

Recommendations

North Korea

1. The Forum expressed the strong hope that the six-party talks would make early and significant progress and encouraged the UK and the European Union to use any opportunity to assist in the successful conclusion of this process,

2. That the British Government and relevant UK institutions should give serious consideration to study and training in the UK for North Korean students and officials.

Creative Industries

1. Taking note of the fact that both the UK and Korea are at the forefront of developments in the creative industries, and that they have different but complementary strengths, the two governments and relevant trade bodies should seize the exciting opportunities that exist for cooperation between SMEs from the two countries in these sectors.

Education

1. That UK and Korean universities should develop links with British and Korean firms to attract funding from the British and Korean private sectors in their knowledge transfer activities, and that they should collaborate in research activities with commercial application.

2. That the two governments pursue discussions about real improvements in the EPIK scheme or its replacement by a new, more effective scheme.

Bilateral Business and Investment

1. Noting that the protection of Intellectual Property Rights (IPR) was of vital concern to potential foreign investors in Korea, that the Korean Government consider urgently more effective IPR protection in Korea by making existing regulations better known in the UK and by stricter enforcement of them in Korea.

2. That the Korean government should examine further the tax treatment of Korean individuals and institutions investing in offshore funds and take any appropriate measures to ensure the removal of any discriminatory capital gains taxation of Korean investors in offshore funds and the equalization of such taxation with investors in onshore funds.

3. That while welcoming the offer made by the Korean Government in the context of the Doha Round of trade negotiations to permit certain operations by foreign lawyers in Korea, we urge strongly our governments to expedite the Doha Round in this regard.

4. That given the crucial importance of air transport between the two countries, the British Government improve on its recent approval of an increase in flights between them.

Britain and Korea as Business Hubs

1. That those responsible for promoting South Korea as a business hub for North East Asia should study very carefully the reasons for the success of London as a global financial hub and take up the offers of assistance from the relevant institutions in London.

High Level Visits

That the two governments take full advantage of forthcoming high level visits to introduce new initiatives or reinforce existing ones, inter alia:

i) to announce real cooperation between London and Seoul on the establishment of Korea as a business hub for North East Asia;

ii) to endorse a framework for cooperation between British and Korean firms in creative industries;

iii) to express support for collaboration between the two governments in third countries in international development;

iv) to announce measures to accelerate the implementation of initiatives emanating from the UK-Korea High Technology Forum;

v) to explore opportunities for enhanced exchanges by the young people of both countries;

vi) to endorse the importance of the work of the UK-Korea Forum in stimulating improvements in the relationship between the two countries;

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