Erbil-Hewler, Kurdistan region (Iraq), -- Erbil, The capital of Iraqi Kurdistan, is known to us only as the base of the Zaytun Unit, a contingent of Korean troops. In fact, Erbil is a growing market in the Middle East. With reconstruction underway, the Kurdistan autonomous region of Iraq has become a new economic battleground for multinational corporations. The Korean government banned Koreans from traveling to Iraq after the beheading of Kim Sun-il in 2004, but since February it has been issuing limited permits for travel to Erbil.
Some 3,700 American soldiers have been killed in Iraq since 2003, but American businessmen are still rushing into the country. It's common to see young men in sunglasses speeding through the streets in Toyotas or Land Cruisers with the Stars and Stripes emblazoned on their doors.
Some 400 multinationals from the U.S., Britain, Turkey, Dubai, and even Norway have arrived in Erbil. The hotel occupancy rate downtown exceeds 90 percent. A Lebanese enterprise is building a giant shopping mall in the center of town with an investment of some W1 trillion (US$1=W944).
Why is Erbil, a city with no serviceable factories, so popular? Oil. Iraqi Kurdistan sits on a huge oil field, estimated to hold six percent of the entire world's oil deposits and 40 percent of Iraq's oil reserves. In addition, security here is relatively better than it is in other regions of Iraq. Thus Erbil is functioning as an outpost for companies looking to advance into the other Iraqi regions in the future.
Local residents are very interested in Korean companies. Not long ago senior officials of the Kurdistan Regional Government invited a group of Koreans to dinner. During the dinner, the Korean soap "Stairway to Heaven" was playing on the TV.
The tablecloth featured the logo of the Red Devils, supporters of the Korean national soccer squad, along with the word "Corea." "The Koreans are our friends," the Kurdish government officials stressed.
The successes of the Zaytun Unit have left a favorable impression on the Kurds, but the Korean business presence in the area is still negligible.
The most Korean companies have done in the region is small-scale construction projects, including a government hospital being built by the Korea International Cooperation Agency. "Within the Kurdistan Regional Government, the atmosphere is much more favorable to Korea than to Turkey, the U.S., Britain or China," said Sinjari, the chairman of KoriKurdi, a Korean-Iraqi joint venture.
"The government is very regretful that Korean businesses have so little presence here."
chosun com
Since 1991, the Kurds of Iraq achieved self-rule in part of the country. Today's teenagers are the first generation to grow up under Kurdish rule. In the new Iraqi Constitution, it is referred to as Kurdistan region. Kurdistan region has all the trappings of an independent state -- its own constitution, its own parliament, its own flag, its own army, its own border, its own border patrol, its own national anthem, its own education system, its own International airports, even its own stamp inked into the passports of visitors.
Some 3,700 American soldiers have been killed in Iraq since 2003, but American businessmen are still rushing into the country. It's common to see young men in sunglasses speeding through the streets in Toyotas or Land Cruisers with the Stars and Stripes emblazoned on their doors.
Some 400 multinationals from the U.S., Britain, Turkey, Dubai, and even Norway have arrived in Erbil. The hotel occupancy rate downtown exceeds 90 percent. A Lebanese enterprise is building a giant shopping mall in the center of town with an investment of some W1 trillion (US$1=W944).
Why is Erbil, a city with no serviceable factories, so popular? Oil. Iraqi Kurdistan sits on a huge oil field, estimated to hold six percent of the entire world's oil deposits and 40 percent of Iraq's oil reserves. In addition, security here is relatively better than it is in other regions of Iraq. Thus Erbil is functioning as an outpost for companies looking to advance into the other Iraqi regions in the future.
Local residents are very interested in Korean companies. Not long ago senior officials of the Kurdistan Regional Government invited a group of Koreans to dinner. During the dinner, the Korean soap "Stairway to Heaven" was playing on the TV.
The tablecloth featured the logo of the Red Devils, supporters of the Korean national soccer squad, along with the word "Corea." "The Koreans are our friends," the Kurdish government officials stressed.
The successes of the Zaytun Unit have left a favorable impression on the Kurds, but the Korean business presence in the area is still negligible.
The most Korean companies have done in the region is small-scale construction projects, including a government hospital being built by the Korea International Cooperation Agency. "Within the Kurdistan Regional Government, the atmosphere is much more favorable to Korea than to Turkey, the U.S., Britain or China," said Sinjari, the chairman of KoriKurdi, a Korean-Iraqi joint venture.
"The government is very regretful that Korean businesses have so little presence here."
chosun com
Since 1991, the Kurds of Iraq achieved self-rule in part of the country. Today's teenagers are the first generation to grow up under Kurdish rule. In the new Iraqi Constitution, it is referred to as Kurdistan region. Kurdistan region has all the trappings of an independent state -- its own constitution, its own parliament, its own flag, its own army, its own border, its own border patrol, its own national anthem, its own education system, its own International airports, even its own stamp inked into the passports of visitors.
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