An inaugural Korea-Tonga Business Roundtable, with the Tonga Chamber of Commerce and Industries Inc. held on Friday, 14 July, at the Fa'onelua Convention Centre, Nuku'alofa, “demonstrated the shared commitment of both nations to strengthen bilateral ties and foster economic growth,” the TCCI said in a statement.

The event was facilitated by the Korea Chamber of Commerce & Industry, with the Tonga Chamber of Commerce, which brought together key stakeholders, who explored opportunities for cooperation and collaboration on matters of common interest.

Leading the Korea delegation was Secretary General for The Bid Committee for the World Expo, Yoon Sangjick, who highlighted the mutual interest in developing economic cooperation between the two nations. Also present was the Corporate President for Samsung Electronics, Park Seung Hee who arrived in Tonga with a delegation of top officials from Samsung Group for high level private meetings. 

Korea is bidding to hold the World Expo in 2023 in Busan, Korea.

The Deputy Prime Minister Hon. Samiu Vaipulu in his speech said, “The potential for economic cooperation between the Kingdom of Tonga and the Republic of Korea is immense”.

“Tonga, as a small island nation, seeks to diversify and strengthen its economy, to ensure sustainable growth and prosperity for its people. In this endeavour, we recognise the invaluable support and expertise that Korea can offer. Korea's remarkable achievements in various sectors, such as technology, manufacturing, and trade, make it an ideal partner for Tonga's private sector development,” he said.

A Memorandum of Understanding to strengthen and develop business relations between Tonga and Korea was also signed by the Korea Chamber of Commerce and Industry Vice President, Lee Seong-woo and the Tonga Chamber of Commerce and Industry President, Sam Vea.

The 
Governor of the Reserve Bank of Tonga, Tatafu Moeaki, also delivered an overview of Tonga’s Economy.

During the event, the Deputy Prime Minister Vaipulu expressed his support for Korea's bid to host the World Expo 2030 in Busan. Recognising the significance of the World Expo, Tonga pledged its unwavering support and highlighted the importance of collaborating with Korea on cultural exchange, sustainable practices, and tourism promotion, according to TCCI.

Both nations aim to ensure the success of the bid and create a remarkable World Expo experience.

Preparations for the World Expo 2030 were also discussed at the Business Roundtable.

The Samsung delegation came to Tonga in a private jet.