Brunei sought to tap into Korea’s advanced fishing technology by inducing investment in the small Southeast Asian nation.

Brunei is known for its abundant marine resources and rich bio-security. Blessed with a mild climate all year round, it is safe from natural calamities such as typhoons or earthquakes.

Experts say that this provides particularly favorable conditions for aquaculture, but the country lacks business know-how and advanced fisheries technology. So, marine tech-advanced Korea and eco-rich Brunei might make a synergistic pairing.

That is why the Bruneian Embassy in Korea and ASEAN-Korea Center held a forum on investment opportunities with special focus on the small Southeast Asian nation’s fisheries at Seoul Plaza Hotel on Tuesday.

Officials from Brunei’s ministry of industry and primary resources, and Bruneian diplomats and officials from ASEAN-Korea Center organized the investment seminar for participants to get up-to-date information on the investment opportunities of Brunei’s fisheries industry.

Korea’s advanced technology and Brunei’s gifted natural resources could come together to generate business opportunities that would benefit both countries, the ASEAN-Korea Center said in a statement.

Bruneian ministry officials also gave one-on-one business consultations to the participants, mostly Korean entrepreneurs and industry professionals.

ASEAN-Korea Center Secretary-General Chung Hae-moon delivered welcome remarks, followed by a speech by Bruneian Ambassador to Korea Dato Haji Harun Ismail.

Deputy Permanent Secretary of Ministry of Industry and Primary Resources Hajah Hasnah Binti Ibrahim gave a keynote speech, and Bruneian experts discussed the country’s fisheries industry, including the current investment environment and opportunities.

In addition to the presentations, officials from Korean company Jindo SDN BHN, which is based in Brunei, shared their personal experience and know-how on investing in Brunei and operating a business there.

Korea and Brunei established diplomatic relations on Jan. 1, 1984. Korea imports billions of dollars worth of oil a year from Brunei.

The ASEAN-Korea Center was established as an intergovernmental organization in March 2009, mandated to increase two-way trade, investment, tourism and cultural exchanges between the ASEAN member states and Korea.

By Philip Iglauer (ephilip2011@heraldcorp.com)