Georgian Ambassador to Korea Tarash Papaskua stressed the potential of his country such as its strategic location as a main gateway connecting east and west at the Global Business Forum organized by The Korea Herald at the Ambassador Seoul - A Pullman Hotel on Wednesday.

During the 12th session of the GBF held under the theme “Next Prosperity,” Papaskua highlighted key developments and business opportunities backed by the Georgian government in his opening remarks.

“The Georgian government’s clear and consistent vision on the country’ economic development offers businesses with a simple and clear (business operation) environment and policies developed around logistics, transportation and renewable energy,” the ambassador said.

With particular focus on Georgia’s pivotal role for global energy supply, the ambassador said the government is pushing ahead with $3 billion investment in the hydropower sector. Georgia boasts the highest water resource per capita, with 26,000 rivers across the country, among which more than 300 are used for electric power.

“Georgia is a main gateway between east and west, working as a middle corridor connecting China and Europe,” the ambassador said, adding that the country connects businesses to a market of 2 billion people.

He added that Georgia hopes to finalize a free trade deal with Korea toward the year-end.

The first lecture of the evening was delivered by actor Park Sang-won, the director of the Seoul Foundation for Arts and Culture.

Park, whose acting career spans over 40 years, has been at the helm of the city-run arts foundation since 2021.

“We aim to offer industry-leading programs to nurture talent in the arts and culture sector, from discovering young talent to supporting senior artists, through a more detailed and well-organized system,” Park said.

According to Park, the SFAC aims to support more aspiring actors and artists in the theater, dance and music industries. This year, it held a revamped Seoul Arts Awards ceremony in February with a total of 2 million won ($1,500) in prize money.

Park also highlighted the foundation’s effort to make "killer content" out of city-run festivals focusing on the country's four seasons.

“Unlike in other countries where only a certain festival is popular, such as Thailand’s Songkran water fighting festival, Korea boasts four distinct beautiful seasons that can maximize the unique characteristics of festivals in every season,” he said, adding that the SFAC will be at the forefront of promoting Seoul’s cultural and artistic charms through various festivals.

Meanwhile, the second lecture of the 12th session of GBF was delivered by CJ Corp. CEO Kang Ho-sung. Kang, a former prosecutor and attorney, joined the CJ Group in 2013 and served vice president role at CJ Corp. and its cultural arm CJ ENM.

The GBF is an association of experts across a wide range of fields, including business leaders, scholars, diplomats and celebrities. It aims to provide comprehensive perspectives on changes in various industries.

The third edition of the GBF, which kicked off on Feb. 15, runs through May 17, with a total of 13 sessions.