Port of Liverpool

TMP sells low carbon credentials in South Korea

Investment opportunities in the offshore wind market in Liverpool Bay are being promoted in South Korea by The Mersey Partnership working with the Peel Group and Wirral Council.

Senior representatives from the three organisations visited Seoul to meet investors, following a meeting at the Liverpool Embassy in London in March with the South Korean Ambassador and existing South Korean investors in the UK.

Lorraine Rogers, chief executive of TMP, said: "South Korea is one of the world's leading economies and an increasing source of international investment. The Free Trade Agreement between Korea and the UK which came into effect on 1 July 2011 makes this a particularly opportune time to be developing our relationship with South Korean businesses and organisations. In meetings with some of South Korea's leading companies including Samsung, Daewoo and Hyundai during the visit interest was expressed in Liverpool city region's investment opportunities and we are now actively following this up."

TMP estimates the low carbon economy has the potential to create 15,000 new jobs for the sub-region by 2015. It is estimated there are about 400 companies in the energy and environmental technology sector in the Liverpool city region, employing 8,700 people and generating £1bn in sales each year.

The visit to the South Korean capital focused on Liverpool City Region's development of a Low Carbon Economy, as well as Peel's proposals for an International Trade Centre in Wirral and wider development opportunities.

Meetings took place with representatives of institutional investors and influential intermediaries to find a South Korean investment partner for one of the four phases of the Peel International Trade Centre to add to the Chinese interest that has already been expressed in the project.

Cllr Joe Anderson, leader of Liverpool City Council, said: "It is critical that the region's investment opportunities are promoted to international markets. Liverpool must compete on a global scale if by working together we are to deliver sustainable economic growth through inward investment and job creation. The level of interest expressed by these companies at the Liverpool Embassy event was high and this activity marks an important new phase."

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