Premiere Kathleen Wynne has all but wrapped up her mission to east Asia, securing lucrative agreements with two major trading partners.
Statements from the premier’s office say several multi-million dollar agreements have been signed between Ontario and South Korea.
The business trip focused on building economic partnerships and seeking new opportunities in key sectors, including innovation, auto, manufacturing, information and communications technologies (ICT) and life sciences.
The Japanese leg of the tour involved meeting with several companies that already have investments in Ontario through auto manufacturing and the aerospace sector including F-Tech, known as F&P and Dyna-Mig in Ontario, Toyota, and Mitsubishi.
Japan is Ontario’s fifth-largest trading partner, with two-way trade topping $11 billion last year.
Meanwhile, Wynne’s trip to South Korea secured about $120 million in biomedical research and health care agreements including $100 million earmarked for a resource partnership between the Korea Health Industry Development Institute (KHIDI) and Ontario’s MaRS Innovation.
The premier also announced that Ontario will open a new International Trade and Investment Office in Seoul, next year. The new office will help Ontario companies do business in South Korea and increase exports to the region.
South Korea is Asia’s fourth-largest economy, and trade between Ontario and South Korea was nearly $6 billion last year. Ontario is home to Canada’s largest South Korean community with more than 82,000 people of Korean descent.
Wynne is the first Ontario premier to visit South Korea in 30 years and the first to visit Japan in a decade.
I’m speaking with F&P and Dyna-Mig — they create jobs in the auto parts sector in Tottenham & Stratford, Ontario. pic.twitter.com/Bc3xbT6fHh
— Kathleen Wynne (@Kathleen_Wynne) November 30, 2016