October 24, 2025
IKBC Highlights Strengthened Iraq–Korea Cooperation at KORMARINE 2025
FICC & IKBC represented officially at Al Zaman Group’s Booth in Busan, South Korea.
The Iraq–Korea Business Council (IKBC) reaffirmed its commitment to advancing Iraq–Korea economic relations through its support of Al Zaman Group’s (AZG) participation in KORMARINE 2025, held in Busan, South Korea. The event served as another step forward in IKBC’s efforts to enhance industrial partnerships and open new channels for collaboration between the two countries.
IKBC played its role in facilitating Iraqi participation in this prestigious exhibition, which brings together global leaders in shipbuilding, marine engineering, and maritime technology. Through these efforts, AZG became the sole representative of Iraq at KORMARINE 2025 — an important symbol of the Iraqi private sector’s growing engagement in international industrial platforms.
The Iraqi presence at the exhibition also received strong diplomatic support. The Embassy of the Republic of Iraq in Seoul played an active role throughout the event. Mr. Ali Mussa Albaker, Deputy Head of Mission, visited Busan for three days to meet with Korean suppliers and manufacturers, expressing the embassy’s appreciation for AZG’s representation of Iraq. Dr. Odey Mohammed, the Commercial Attaché, joined AZG’s booth during the exhibition’s second and third days, further strengthening the connection between Iraqi industry and Korean partners.
A major achievement facilitated by IKBC and KOTRA during the exhibition was the signing of a Memorandum of Understanding (MoU) between Al Zaman Group and Korea Hoverjet, a leading Korean hovercraft manufacturer. The agreement establishes a framework for future cooperation in maritime technology and local production capabilities in Iraq. This milestone demonstrates how coordinated efforts between business councils, trade institutions, and private companies can yield tangible outcomes that benefit both economies.
As an organization operating under the Federation of Iraqi Chambers of Commerce (FICC), IKBC continues to serve as a vital bridge between Iraq’s private sector and Korea’s industrial and investment communities. The Council’s mission is to facilitate partnerships, promote mutual understanding, and support the transfer of knowledge and technology that contributes to Iraq’s industrial growth.
IKBC takes pride in its role in enabling this success at KORMARINE 2025 and remains committed to creating further opportunities for collaboration between Iraqi and Korean enterprises — building a stronger, more connected future for both nations.