The Chamber of Young Lankan Entrepreneurs (COYLE) led a high-profile trade delegation to the Republic of Korea recently.
The visit, commemorating the Chamber’s 25th anniversary, aimed to strengthen economic ties and open up new business avenues between Sri Lanka and South Korea.
Spearheaded by the Chairman of COYLE, Thushira Raddella and the Chairman of the Foreign Delegations and Overseas Business Promotion Subcommittee, Manusha Weeraratne.
COYLE inked important Memorandums of Understanding (MoUs) with two of the biggest business chambers in South Korea during the tour. One notable MoU was with the Chuncheon Chamber of Commerce, representing over 400 of Korea’s top corporations.
This partnership is expected to boost trade and investment in various sectors, bringing economic benefits to both countries. COYLE partnered with the IMA Chamber of Commerce, which represents over 150 small and medium-sized Korean enterprises (SMEs) operating globally. This agreement will pave the way for Sri Lankan SMEs to access international markets, fostering innovation and sustainable growth.
A critical player in facilitating this partnership was the Sri Lankan Embassy in South Korea, who coordinated significant discussions between COYLE and the Global Business Alliance. These conversations further enhanced the mission’s objectives of expanding business relationships and exploring joint ventures.
In a series of meetings with major South Korean companies, including POSCO International, LG CNS and Samsung Biologics, COYLE explored opportunities for investment, technology transfer and cross-border collaboration. These discussions are expected to bring long-term benefits to Sri Lankan industries, particularly in technology and healthcare.
Another highlight was the delegation’s meeting with the Mayor of Wonju City, where opportunities for business matching were discussed. Around 200 Korean companies were matched with 32 Sri Lankan representatives within a four-day period.
The trade mission represents COYLE’s commitment to driving Sri Lankan entrepreneurship to the global stage.
