A view of a ceremony to mark the 50th anniversary of Trade Day at COEX in Seoul on Dec. 5, 

which was hosted by the Ministry of Trade, Industry and Energy and the Korea International Trade Association (KITA).

The Ministry of Trade, Industry and Energy and the Korea International Trade Association (KITA) held a ceremony to mark the 50th anniversary of Trade Day at COEX in Seoul on Dec. 5 with some 1,400 people in attendance including President Park Geun-hye. 

The anniversary event was an upbeat gathering to share the joy of recording the so-called Triple Crown of Trade — posting a record high of $40.5 billion in trade surplus, $1 trillion in trade for the third straight year, and a likely renewing of a record high of $555.2 billion in exports set in 2011.  

Fifty years have passed since Export Day was observed in celebration of the nation’s chalking up $100 million in exports. Export Day, designated by the late Park Chung Hee government, which fell on Nov. 30, later became Trade Day, which falls on Dec. 5. The change came as the former president Lee Myung-bak government marked the nation’s surpassing $1 trillion in trade in 2011 for the first time.  

Korea was forecast to post some $1.078 trillion in trade during the whole of 2013, up from $1.067 trillion in 2012, surpassing the $1 trillion trade barrier for the third straight year.  

President Park, in her commemorative speech at the ceremony, extended words of thanks to those in the Korean exporting industry who have slogged through difficulties and hardships. She said, “The government will put into practice three top tasks — nurturing new exporting industries, raising SMEs and mid-sized firms’ exporting capability, and strengthening sales diplomacy and free trade infrastructure — with the goal of the nation’s ascending to a global top five global exporting country and achieving $2 trillion in trade by 2020.” 

President Park Geun-hye speaks at the 50th Trade Day 

anniversary event at COEX in Seoul. (photos: Cheong Wa Dae)

The golden jubilee celebration served as an opportunity for Korea to look back at the roads trodden by the nation the last half century, take stock of its ability to cope with internal and external trade environment changes, a chart of its future course. 

The government awarded 755 people who have contributed to the development of the Korean trading industry with orders and other diverse prizes. 

The coveted Order of Industrial Service, Gold Tower went to SK Energy President Park Bong-kyoon, while Hyundai Wia President Chung Myung-chul was honored with the Order of Industrial Service, Silver Tower. 

Hyundai Motor Vice President Lee Byung-ho was presented with the Order of Industrial Service, Bronze Tower, while Kim Byung-kwon, a division chief of KOTRA, and Kim Moo-han, KITA executive director, each received the Order of Industrial Service, Steel Tower.  

Park Jong-bong, executive vice president of Hyundai Heavy Industries, and Lee Kyu-chul, a division chief of Korea Trade Insurance Corp., were each decorated with the Order of Industrial Service, Tin Tower, while Aekyung Chemical President Hong Sung-yong was awarded the Industrial Service Medal. 

Samsung Display was presented the $20 billion export tower, while the $6 billion export tower went to Lotte Chemical. Hyundai Glovis and Hyundai Wia received the $4 billion and $3 billion export towers, respectively.