Ontario successfully concludes mission to strengthen economic ties with South Korea and Japan
Toronto/IBNS: A successful trade mission (Sep 2-10) led by Vic Fedeli, Ontario's Minister of Economic Development, Job Creation, and Trade to South Korea and Japan to strengthen economic partnerships and forge new alliances has reportedly been concluded.
“This mission has been all about re-engaging with our trusted partners and friends in South Korea and Japan and building...looking to Ontario for their future and our government is proud to champion and support our industry leaders and innovators, as we continue to attract new investments,” Fedeli has said in a news release.
Meetings with large multinationals in both countries were held by the Ontario delegation to promote the province’s strength in automotive, aerospace, and other key emerging sectors including meeting with business leaders at LG Energy Solution to thank them for their record-breaking $5 billion investment in Ontario, it said.
As part of the government’s project to build Ontario and become the North American hub for developing and building the cars of the future, LG Energy Solution and Stellantis, supported by Ontario and the federal government, have joined forces to build the province’s first large-scale electric vehicle battery manufacturing plant.
Also included in the mission were meetings with Honda, Toyota, Panasonic, Samsung, and Mitsubishi Heavy Industries, and some of the world’s leading technology companies such as NAVER and Megazone Cloud.
Building on the province's investments of $16 billion made over the last 21 months by automakers and EV battery manufacturers, Ontario's talented workforce, state-of-the-art research and development facilities, award-winning manufacturing, and access to an abundance of critical materials are well-positioned to build the cars of the future, the release said.
Continuing to adopt innovative and forward-thinking approaches to attract investment and be a leading destination to do business, Ontario is been looked upon by companies around the globe for their future, including those in South Korea and Japan, it said.
(Reporting by Asha Bajaj)