Report on AGM 2008
Korean-Thai Chamber of Commerce organized Annual General Meeting (AGM) 2008 on Wednesday, 19 March 2008 from 10.30 a.m. at the Conservatory Room, Landmark Bangkok, attended by 34 members including proxies. Besides the members there were two Honorary Guests : H.E. Mr. Han, Tae-Gyu, Korean Ambassador and Mr. Satit Chanjavanakul, Secretary General of BOI.
The Meeting was conducted according to the Agenda which was approved by the attendants as follows:
(1) Registration
(2) Opening Remark by President Ahn, Jong-Kug
(3) Congratulatory Speech by Ambassador Han, Tae-Gyu
(4) Adoption of Minutes of AGM 2007 & EGM 2007
(5) President’s Annual Report on Activities
(6) Approval of Auditor’s Report on Financial Statement 2007
(7) Appointment of Auditor for Fiscal Year 2008 and Remuneration
(8) Introduction to KTCC’s Reconstructed Web-site
(9) Other Matters:
Presentations by Hyundai Motor & Kasikorn Bank
Presentation on "Invest Opportunity in Thailand"
by Mr. Satit Chanjavanakul, Secretary General of BOI
President Ahn, Jong-Kug welcomed all the attending members, including the Advisers, Directors and the Advisory Committee Members. He made a special remark to thank H.E. Mr. Han, Tae-Gyu, Korean Ambassador to Thailand who came to deliver a congratulatory speech at the beginning of the AGM. Before proceeding on the items of agenda, he made an announcement that Mr. Satit Chanjavanakul, the Secretary General of BOI would join the Meeting at about 12.00 noon to deliver a presentation on “Investment Opportunities in Thailand”. President Ahn apologized that he could not inform of his coming earlier, because it was a decision made at the last minute owing to his busy schedule.
The Congratulatory Speech by H.E. Mr. Han, Tae-Gyu began with the Thai-Korean economic relations of last year, which had marked another very successful record. The trade volume between our two countries reached 8.3 billion US$, an increase of 6% from the previous year. Particularly the Korean investment to Thailand reached 180 million US$ in 2007, which is also anticipate a substantial growth of Korean investment to Thailand. This is from the fact that last year the FTA between ASEAN and Korea was concluded, and if it will be rectified by the new Thai parliament, we expect to have advantages in the bilateral business circle.
Even though we have some difficulties in agricultural, automobile and steel sectors, a more active trade relation between our two nations will continued. Currently, Both governments are working hard to conclude the FTA between our two countries within this year in addition to that between ASEAN and Korea. If it will have been agreed, it will certainly boost further the economic relations between our two nations.
He also reminded the members that this year we celebrate the 50th Anniversary of Thai-Korean Diplomatic Relationship, and we will organize ceremonies, exhibitions, cultural activities and so on. This will eventually encourage the tourism sector to grow further. Korean tourists to Thailand last year numbered more than a million, which was in fact the 2nd largest number of foreign tourists to Thailand after Japan. Through the TV dramas and other modes of entertainment, Thai people get some introduction to Korean culture. And, this made them be more interested in seeing and experiencing the cultural and environmental things in Korea. Through various exchange activities in this year of the 50th anniversary, our relationship will much be strengthened, including in trade, investment, tourism industry and so on. And, hopefully we will be able to reach the volume of 10 billion US$.
After the Adoption of Minutes of AGM 2007 & EGM 2007, President Ahn presented his Annual Report on Activities during 2007, which included:
1) Extra-Ordinary General Meeting (EGM) 2007
(1) Moving of KTCC Office from the Embassy premises to 3rd floor of Korean Association’s Cultural Center in soi 18, Sukhumvit Rd.;
(2) Raising of Ordinary Membership and Annual Activities Fees; and
(3) Increasing the number of Vice Presidents and Directors
2) Organization of Executive Board with 8 Sub-Committees chaired by 6 Vice Presidents and 2 Directors
3) Golf Rounding in Celebration of 30th Anniversary of KTCC The Golf Rounding in celebration of 30th anniversary of our Chamber was held on 27 November 2007 at the Lakeside. The result was extra-ordinarily successful with altogether 147 participants and an income of 134,476 Baht, including the extra donation of 60,000 Baht.
4) Publication of a Guide-Book for the Korean Investors to Thailand In celebration of the 50th anniversary of the Thai-Korean Diplomatic relations, we are working on a guide-book project, entitled “Economic & Business Laws for Korean Investment to Thailand” supported by Korean Embassy donation of 3,500 US$.
5) Web-site Reconstruction Project The information of the site includes an introduction to our Chamber, our activities and member-companies. Also included are the current economic reports and other issues of Thailand, which are important in doing business and living in Thailand.
6) Organization of the Advisory Committee To enhance our Chamber’s consolidation, an Advisory Board is organized with the CEOs of 12 major Korean companies in Thailand.
President Ahn continued that besides the above-mentioned activities, he has been attending the Board Meetings of Board of Trade (BOT) every other month, as well as the monthly Presidential Luncheon of Joint Foreign Chambers of Commerce in Thailand (JFCCT) and its ICT Committee Meeting.
Approval of Auditor’s Report on Financial Statement 2007
Treasurer Khun Vongthip reported that the total income during the fiscal year of 2007 amounted 1,063,349.54Baht, and the Total Expenditure was 739,914 Baht. Thus, at the end of the year 2007 we have the positive cash balance of 565,987.85 Baht.
Appointment of Auditor for Fiscal Year 2008 and Remuneration
The meeting approved Khun Siseeree Kerdpon who performed her duty satisfactorily for the financial statement, to continue to be KTCC’s CPA (Certified Public auditor) for the fiscal year of 2008 with the remuneration not exceeding 7,000 Baht.
Introduction to KTCC’s Reconstructed Web-site
The information on our site includes an introduction to our Chamber, our activities and member-companies, as well as the current economic reports and other issues of Thailand, which are important in doing business and living in Thailand. Currently our web-site is in Korean only, but we will soon add English and Thai versions it. When it will have been done President Ahn requested all the members to visit our web-site at least once a day in order to give valuable advices to improve it.
Other Matters:
There were Presentations on their services by Hyundai Motor & Kasikorn Bank, which was followed by the Presentation on “Invest Opportunity in Thailand”, delivered by Mr. Satit Chanjavanakul, Secretary General of BOI. After the comprehensive presentation, he entertained the participants with a few questions.
Lastly, President Ahn thanked the members, directors and honorable guests for their presence at the AGM 2008, and also for their generous support which had been rendered him and his Board throughout the year. He also solicited their continuous contribution during the year, which will celebrate 50th Anniversary of Korean-Thai Diplomatic Relationship.
President Ahn announced the adjournment of AGM 2008 at about 1.15 p.m.
[Full Minutes is also presented in this Website for your consultation.]
Reported by Mira Kim,
Secretary General
