Korea International Trade Association’s new chairman Kim Young-joo, former minister of the Trade, Infrastructure and Energy, was inaugurated in a ceremony held on Dec. 16.
The KITA Chairman said he will try to make Korea a good country to do business in by strengthening communication among all parties, including the government, parliament and trading companies.
He will try to create synergy among all concerned parties.
Exchanges among them will also be boosted as they make moves to increase international trade.
The chairman said he will focus on expanding exports of SMEs, whose domestic market has little room for expansion due mostly to low birth rates and rapidly aging population. The new head of the Korea International Trade Association pledged to mobilize all resources to help small exporters bolster their overseas shipments, as demand grows for made-in-Korea products across the globe.
At a media conference, Kim said the export promotion body will provide a bridge between the government and private sector, adding that it will proactively advocate for the interests of its 70,000 member companies in the ongoing renegotiation of the Korea-U.S. Free Trade Agreement (KORUS FTA).
"While I was in the public sector, I worked with my KITA counterparts on various trade issues. It is good to be part of this wonderful, hardworking organization," Kim said.
He served from 2007 to 2007 as the minister of commerce, industry and energy of the 2003-2008 Roh Moo-hyun administration. "KITA has to change to meet the needs of its members in accordance with the rapidly changing business conditions. It needs to find out what companies need to increase their exports, and work harder with government agencies and the National Assembly to create a more business-friendly environment," he said.
KITA board members held a meeting Thursday and voted unanimously to name Kim its 29th chairman, replacing his predecessor Kim In-ho who abruptly resigned on Oct. 24. Kim, appointed by President Park Geun-hye, later alleged he was forced out by the Moon Jae-in administration.
The new chairman dismissed media reports he was selected by Cheong Wa Dae, insisting KITA board members acted on their own and decided to appoint him.
"The board members chose me because they think I am the right person to play a bridging role between the government and the private sector," Kim said. "I will do my best to fulfill my duties and do many good things for business circles."
He said he will continue to implement KITA programs to strengthen the competitiveness of small exporters and encourage them to enter more foreign markets.
"It is not easy to generate meaningful growth within the country amid falling birthrates and aging population. To spur growth, Korea has no other choice but to look beyond its borders and expand.
KITA was established in 1946 with the objective of advancing the Korean economy through trade, and is currently the largest business organization in Korea with over 70,000 member companies. Representing the interests of Korea's global traders, KITA serves a diverse range of roles including: providing hands-on support to trade companies, drawing trade cooperation from the private sector, formulating new trade strategies, nurturing trade professionals and building trade infrastructure.
With a widely established network of 13 domestic offices and 15 overseas branches in major cities, KITA has consolidated its position as a leading business organization dedicated to assisting SMEs in gaining foreign market entry and has actively contributed towards Korea's recent achievement of 1 trillion dollars in trade volume.
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A view of the Int’l Trade Center in Samsung-dong, Seoul.(Photos: KITA)
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