Korea International Trade Association (KITA) held a regular general meeting for the financial year 2022 at COEX in Samseong-dong, Seoul, on Feb. 23.
About 500 representatives participated in the meeting. During the general meeting, KITA set this year’s business goal of “strengthening export momentum in the post-COVID-19 pandemic era by expanding digital-based services and suggesting future growth engines.”
KITA came up with five strategies and 20 detailed action tasks to achieve this year’s business goal.
The strategies are ramping up communications with the trade field and digitalizing services to member companies; expanding non-face-to-face marketing support regime; offering future trade strategies and information to cope with a new trade and commerce environment; strengthening the private sector’s economic cooperation using global networks; and nurturing new growth export industries and raising value-added of trade.
In his opening speech, KITA Chairman Christopher Koo said, “Last year, Korea wrote a new history by making the best-ever trade achievement and topping $1 trillion in trade in the shortest-ever time.” He expressed thanks to the trade community, saying the achievement was owed to Korean trade industry workers’ challenging spirit of transferring a crisis into an opportunity.
Koo said the Korean trade industry is facing new challenges, such as nationalism in other countries, trade protectionism and misgivings of global supply chains.
He called for people in the Korean trade industry to join forces to overcome a crisis with a spirit based on “jeguposhin,” a Chinese saying meaning discarding of conventional methods and unfurling new ones.
Koo said KITA will provide full support to the trade industry with digital-oriented differentiation services.
During the general meeting, the participating member representatives approved this year’s business plans and detailed action strategies. They called for expanding digital services to member companies fast and aggressively solving field stumbling blocks.
KITA Holds Year’s 1st Session of Shared Growth with KSA
Korea International Trade Association (KITA) held this year’s first session of shared growth with Korea Shipowners’ Association (KSA) at Trade Tower in Samseong-dong, Seoul, on Feb. 24.
Experts from KITA, KSA, the Ministry of Trade, Industry and Energy (MOTIE), the Ministry of Oceans and Fisheries (MOF), other related ministries, and organizations discussed the revision of long-term standard shipping contracts designed to establish sound contract relations between shipping companies and shippers.
Lee Joon-bong, head of KITA’s Logistics Service Office, said the standard contract, established in 2019, has some clauses favorable to shipping companies, so shippers have demanded the revamping of the clauses.
He spoke of building up collaboration through the establishment of trust between shipping companies and shippers by establish balanced contracts.
‘NextRise 2022, Seoul’ to be Held in June
Asia’s largest innovation fair for business growth and global startup ecosystems joined by Fortune 500 companies, unicorns, and tech startups ‘NextRise 2022, Seoul’ is set to take place in Seoul from June 16 to 17.
‘NextRise’ is co-organized by the Korea International Trade Association (KITA) and KDB Bank and has grown to become Asia’s largest startup fair since its first edition in 2019.
This event aims to interconnect startup ecosystems all across the globe and facilitate innovation and business growth.
Centering around the themes of “global” and “popularization,” this year’s ‘NextRise’ will feature exhibitions of innovative technologies, conferences, business meet-ups, and startup empowerment workshops.
Last year, ‘NextRise 2021’ successfully organized 2,016 business meet-ups, 109 conference sessions, 275 innovative technology exhibits, startup recruitment sessions, and technology workshops, which attracted 12,000 visitors from all over the world despite the COVID-19 pandemic.
Particularly well-received by the participants were the business meet-ups where 116 global companies such as Coca-Cola and Hyundai Motor Company, 42 investors including Goldman Sachs, and 673 startups discussed technical cooperation, business affiliations, and investment opportunities.
Furthermore, the booths organized by leading international enterprises such as POSCO, BMW, Amazon Web Service, Mercedes-Benz, and DB Schenker highlighted the event’s standing as a global fair.
This year, startups who succeeded in global markets or have grown into unicorns with their innovative business models will share the secrets behind their success.
Promising startups and prominent ecosystem builders from across the globe will also give the event a fresh boost.
Any global enterprises, startups, and startup ecosystem supporters who are interested in joining the business meet-ups, exhibitions, and conferences at ‘NextRise’, please contact the NextRise secretariat.
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