August 11, 2026
Founding General Meeting of IKBC in Korea
The Inaugural General Meeting of the Iraq Korea Business Council in Seoul Marks a New Institutional Beginning for Strengthening the Economic Partnership between Iraq and Korea
The Iraq–Korea Business Council held its inaugural general meeting at the Iraq–Korea Business Council Office in Seoul, Republic of Korea, in the presence of the Council’s Chairman, Mr. Ahmed Shaban, and with the participation of a distinguished group of Iraqi and Korean figures and representatives of economic and diplomatic institutions.
The meeting represented an important step toward consolidating the Council’s institutional and legal framework and expanding the prospects for economic, trade, and investment cooperation between the Republic of Iraq and the Republic of Korea.
The meeting was attended by Mr. Yong Man Kim, General Manager of ENM Korea, Mr. Moon, Chairman of IIDA, alongside Dr. Mohammed Juma Mustafa, Chargé d’Affaires ad interim of the Embassy of the Republic of Iraq in Seoul, Dr. Odey Mohammed Mezaall, Commercial Attaché at the Embassy of the Republic of Iraq in Seoul, Mr. Choi Sung-soo, former Ambassador of the Republic of Korea to Iraq and Secretary-General of the Korea–Arab Association and other Korean Members.
The meeting was also attended remotely from Baghdad via video conference by Dr. Osama Al-Quraishi, Vice Chairman of the Iraq–Korea Business Council, together with a number of Council members, and Dr. Raed Nizar, Advisor to the Federation of Iraqi Chambers of Commerce (FICC). Their participation reflects the broad institutional support for the Council and the importance of its role in strengthening communication between the business communities of the two countries.
The meeting was held as part of the procedures aimed at completing the official registration of the Iraq–Korea Business Council in the Republic of Korea, based on the official communication that took place between the Ministries of Trade of the two countries and following a series of consultations and procedures that continued over the preceding months, with the aim of completing the legal and institutional requirements necessary for the Council’s operations in Korea.
At the outset of the meeting, it was emphasized that the establishment of the Council in the Republic of Korea represents an important institutional step toward providing an organized and effective platform that brings together Iraqi and Korean companies and businesspeople, supports the establishment of trade, investment, and industrial partnerships, and provides opportunities for Korean companies, particularly small and medium-sized enterprises, to join the Council and engage directly with the Iraqi market and business community.
The Council as an Institutional Platform for Advancing Iraq–Korea Economic Relations
The Chairman of the Iraq–Korea Business Council, Mr. Ahmed Shaban, emphasized that the inaugural meeting represents an important milestone in the Council’s development, noting that the Council’s registration in Korea will strengthen its ability to fulfill its role in building bridges of communication between Iraqi and Korean companies and in transforming existing economic relations into more organized and sustainable partnerships.
Mr. Shaban noted that the Council seeks to serve as an effective channel for supporting Iraq–Korea relations, not only in the field of trade, but also across various economic, investment, industrial, and cultural fields. He stressed the importance of unifying efforts among government institutions, the private sector, and business councils in order to create new opportunities for cooperation.
He also noted that the Council is working to expand its membership base on the Korean side, in light of the growing interest among a number of Korean companies in joining the Council, thereby contributing to the establishment of an effective economic network between the two countries.
He further confirmed that the coming phase will see efforts to launch an Iraq–Korea cooperation platform to facilitate the export of Korean products, particularly products manufactured by small and medium-sized enterprises, to the Iraqi market, in addition to seeking to organize joint economic events and summits that could be hosted in Baghdad or Seoul.
Diplomatic and Institutional Support for Strengthening the Partnership
For his part, Dr. Osama Al-Quraishi, Vice Chairman of the Council, emphasized during his intervention via video conference from Baghdad the importance of continuing to support the Korean and Iraqi business communities. He highlighted the depth of the trade relations between the two countries and the role the Council can play in guiding Korean companies seeking to enter the Iraqi market toward suitable partners and sectors, thereby saving time and contributing to the efficient achievement of their objectives.
Dr. Al-Quraishi affirmed the Iraqi side’s readiness to provide support to Korean companies wishing to operate and invest in Iraq, expressing his hope for an increase in the volume of economic activity and trade and investment exchange between the two countries during the coming phase.
He also highlighted the importance of organizing an Iraq–Korea Economic Summit in Baghdad or Seoul, bringing together the business communities of both countries and providing a broader platform for discussing investment and partnership opportunities.
In the same context, Dr. Raed Nizar, Advisor to the Federation of Iraqi Chambers of Commerce (FICC), commended the efforts made to ensure the success of the inaugural meeting, emphasizing that the Federation views the establishment of the Iraq–Korea Business Council as an important step toward building institutional and sustainable economic relations with the Korean side.
He highlighted the importance of benefiting from the Korean experience and the progress it has achieved in the fields of industry, trade, and technology, affirming the support of the Federation of Iraqi Chambers of Commerce for the Council and its efforts to expand economic cooperation between the two countries.
He also stressed the importance of completing the economic Memorandum of Understanding between Iraq and Korea as an institutional framework that could open broader prospects for cooperation across various sectors.
The Korean Side Affirms Its Support for the Council
For his part, Mr. Moon, Chairman of IIDA, expressed his satisfaction with the launch of the new phase of the Iraq–Korea Business Council, expressing his appreciation for the support provided by the Embassy of the Republic of Iraq in Seoul in making this step successful.
He affirmed that the Council will, during the coming phase, serve as a key channel for organizing economic and trade activities between Iraqi and Korean companies and institutions. He noted that a number of Korean companies have already become familiar with the Council and its objectives, and that the coming phase will witness an expansion of this communication.
For his part, Mr. Young Man Kim, General Manager of ENM Korea, presented an overview of his company’s experience in the Iraqi market, where it operates in the fields of shipbuilding, energy, and support for the oil industries.
He noted that the company has undertaken activities related to Iraq’s oil and port sectors, including the construction of specialized vessels serving oil operations and ports, affirming the company’s aspiration to strengthen cooperation with Iraq and expressing his hope that the future will witness broader cooperation between Iraqi and Korean companies across various fields.
Former Korean Ambassador: The Council as a Bridge between Iraq and Korea
Mr. Choi Sung-soo, former Ambassador of the Republic of Korea to Iraq and Secretary-General of the Korea–Arab Association, expressed his support for the establishment of the Council, emphasizing that relations between Iraq and Korea possess significant potential for cooperation across multiple fields, particularly infrastructure, electricity, industry, and other sectors.
He affirmed the Korea–Arab Association’s readiness to cooperate with the Iraq–Korea Business Council, noting that the Association represents a model of cooperation between the public and private sectors and plays a role in building bridges of communication between Korea and the Arab countries.
A New Phase in Iraq–Korea Economic Relations
The Iraq–Korea Business Council affirms that the establishment of the Council in the Republic of Korea represents a strategic step toward building an institutional economic platform capable of transforming the significant potential of Iraq–Korea relations into tangible projects, partnerships, and investment opportunities.
The completion of the Council’s official registration in Korea will provide a legal and institutional foundation for a new phase of its activities, enabling it to expand its membership base, attract more Korean and Iraqi companies, and strengthen direct communication between the business communities of the two countries.
During the coming phase, the Council is expected to continue its efforts to expand its membership base, organize economic meetings and forums, support companies seeking to enter the markets of both countries, and work with Iraqi and Korean government, diplomatic, and economic institutions to strengthen cooperation in priority sectors.
This momentum comes at a time when Iraq–Korea relations are moving toward broader horizons of economic, trade, and investment cooperation, reflecting the shared desire to advance relations between the two countries toward a more integrated and sustainable level, while underscoring the pivotal role that the Iraq–Korea Business Council can play as an institutional bridge between the private sectors of Iraq and the Republic of Korea.
