The Sweden-Korea Business Forum 2019 was held by the Embassy of Sweden in Seoul together with Business Sweden and the Swedish Chamber of Commerce in Korea on Monday, in a bid to discuss ways to enhance competitiveness of companies in the rapidly changing economic environment, especially in China and the technology sector.

Some 70 people from Swedish companies operating in South Korea, including fashion brand H&M and Ericsson-LG, a telecommunication equipment joint venture, participated in the forum held at the Westin Chosun Seoul, according to the embassy.

“South Korea is a very important market for many Swedish companies. Making business on the Korean market can be very different to Sweden. Therefore, we see a big potential for bringing the companies together to share experience and knowledge,” said Richard Molin, the new chairman of the Swedish Chamber of Commerce in Korea and country manager at Hoganas AB Korea.

Under the title “Strengthening Competitiveness; Understanding China and Leveraging Digital Capabilities,” panelists discussed competitive outlook, key challenges, and future growth potential of Swedish companies seeking to tap into the Chinese market. They also shared opinions on digital capabilities in the era of the fifth generation, the next-generation of wireless network technology.

By Park Han-na (hnpark@heraldcorp.com)