SEOUL, 2 July 2014 – Philippine Ambassador Raul S. Hernandez joined a networking business luncheon on Wednesday, 2 July 2014 with other Asian ambassadors to South Korea upon the invitation of the head of the Federation of Korean Industries (FKI) – considered Korea’s most powerful business organization.

FKI Chairman Chang Soo Huh hosted 14 ambassadors, chargés d'affaires and ministers in Seoul representing the ASEAN and South Asian countries at a luncheon held at the Grand Ballroom of the FKI Tower Conference Center. “This invitation is a unique opportunity to introduce myself not only as the new ambassador of the Philippines, but also as the new chairman of the ASEAN Committee in Seoul,” Ambassador Hernandez told Chairman Huh and fellow ambassadors from Bangladesh, Cambodia, India, Indonesia, Laos, Myanmar, Nepal, Pakistan, Singapore, Sri Lanka, Thailand, and Vietnam. In his opening remarks, Chairman Huh said, "As new growth engines of the globe, the ASEAN and South Asian countries are now being regarded as the land of business opportunities for Korean companies in trade, investment and infrastructure construction." "To achieve win-win relationships between Korean businesses and your countries, we are planning to hold a job fair sometime in the second half of this year for your students who are studying in Korea," he added. FKI, along with other organizations such as the Korea Chamber of Commerce and Industry, the Korea International Trade Association, and the Korean Federation of Small Business, form the four most prestigious economic organizations in Korea. For a company to be a member of FKI, its annual sales should be 50 billion won or more. As of 2013, FKI had 470 members, 400 of whom are Korean conglomerates and companies, including GS Corporation, Samsung Electronics, Kumho Industrial, Korean Airlines, Hanwha Corporation, Hyundai Motor, Daelim Industrial, LG, POSCO, Doosan Construction and 21 foreign-invested companies, and 65 are organizations. From the Korean side, 70 business leaders and government officials joined the gathering, including Chairman Huh, Chairman Hee Yong Kim of Tong Yang Moolsan, Samwhan Corporation President Jong Huh, President Yong Dok Song of Lotte Hotel, and Director General for the South Asian and Pacific Affairs Bureau of the Ministry of Foreign Affairs.