IoM Showcased In Korea

by Jason Gorringe, Tax-News.com, London

17 January 2012

The Isle of Man is to receive welcome international promotion as a result of a documentary being made by leading Korean broadcaster Korean Broadcasting System (KBS) with a focus on the island's economy and investment opportunities.

The special feature on the Isle of Man includes interviews with Chief Minister Allan Bell, Geoff Corkish, Member of Economic Development with responsibility for tourism, senior government officers and leading figures from the local business community. It is scheduled to air later this month on ‘Correspondent Report’, a weekend current affairs programme broadcast in South Korea and via satellite to viewers in Europe, the Middle East, North Africa, America and most of Asia.

The film crew spent two and a half days in the Isle of Man, focusing on the many successful sectors of the Manx economy including aerospace engineering, hi-tech manufacturing, financial services, tourism and clean-tech. The visit was part of the Island’s communications strategy to highlight its business offering to international media.

KBS’s interest followed an official visit to the Island in November by Choo Kyu-ho, the South Korean Ambassador to the UK, to explore ways of strengthening the country’s economic and cultural alliances with the Isle of Man.

The Chief Minister, who welcomed the film crew to the Isle of Man said:

“KBS is South Korea’s leading public services broadcaster and the most influential media organisation in the country, the equivalent of the BBC in the UK. Their interest in our economy, heritage and culture provided a wonderful opportunity to promote the Isle of Man’s unique offering to television viewers across the world.”

“Despite the current turmoil in world markets, the Isle of Man has maintained a dynamic economy which is continuing to grow. Thanks to our policy of diversification the island has a broader and more robust economic base than many of its competitors. While financial services remain the cornerstone of our economy, we have many other vibrant sectors, including e-gaming, space commerce and advanced engineering.”

“With the Free Trade Agreement in place between South Korea and the EU, the Isle of Man can offer an attractive corporate package to facilitate business for Korean companies exporting into Europe. We are a small and nimble country with the ability to identify niche sectors that could be mutually beneficial. We already have strong business connections with Korea through our shipping industry and I believe there is potential to develop that relationship into other areas.”

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