Korea International Trade Association (KITA) held the 23rd New Industry Trade Meeting in cooperation of the Korea-Japan Economies Association (KJE) and the Japan-Korea Economies Association (JKE) at COEX in Samseong-dong, Seoul, on March 30.
It was the first meeting of Korean and Japanese businessmen following a summit in which President Yoon Suk-yeol and Japanese Prime Minister Fumio Kishida held talks in Tokyo on March 16.
The meeting took place under the theme “Amid a Tumultuous Business Environment, Creating a New Future Together” with about 100 Korean and Japanese businessmen in attendance. KITA Executive Vice Chairman Chung Man-ki, Deputy Minister for Trade Jeong Dae-jin of the Ministry of Trade, Industry and Energy (MOTIE) and Chairman Lee Soo-chul of G.H Holdings were also present.
Among the attendants from the Japanese side were Aso Cement Chairman Yutaka Aso, concurrently JFE vice chairman, and JFE Executive Director Toshiaki Uchida.
KITA Executive Vice Chairman Chung said, “Companies from both countries will be able to enjoy trade and economic benefits they will expect from their neighboring country, as Korea and Japan normalize bilateral ties following the summit.”
He said that if trade in semiconductor materials, parts, K-content and consumer items is invigorated, companies of both countries will see trade transaction costs required to find new trade partners reduced.
JFE Vice Chairman Aso said, “Tourists vising Korea and Japan have surged following the opening of the border, closed by the COVID-19 pandemic.”
He expressed hope consultative discussions on economic, manpower and cultural exchanges would be held at the meeting, taking place at a time when both countries have stepped up efforts to normalize ties following the Korean-Japanese summit.
Figures released by KITA showed that the portion of Korea’s trade with Japan stood at 6 percent, compared to 21.9 percent with China. The number of Korean exporters and importers to and from Japan declined from 47,928 in 2018 to 46,346 last year.
Trade between Korea and Japan increased only 0.1 percent during the recent four-year period between 2019 and 2022.
KITA Holds16th GTEP Class Graduation and 17th GTEP Class Kick-Off Ceremony
Korea International Trade Association (KITA) held the 16th GTEP class graduation and the 17th GTEP class kick-off ceremony at COEX in Samseong-dong, Seoul, on March 31.
The Global Trade Experts incubating Program is organized by the Ministry of Trade, Industry and Energy operated by the Korea International Trade Association. Every year, they pick undergraduate students interested in trade and immerse them in trade practice and export marketing activities.
During the event, the exemplary 16th GTEP class project teams were presented, and outstanding mentoring teachers and other students were given prizes.
The MOTIE minister’s award went to Prof. Min Joo-hee of Kangwon National University in recognition of helping the bicycle seat maker Huan enter U.S. and Japanese markets.
Prof. Jeong Ji-young of Jeonbuk National University was honored with the MOTIE minister’s prize for mentoring the university’s GTEP project team and helping Juhyun, an excavator core component maker, enter the Japanese market.
KITA held the 17th GTEP class kick-off ceremony following the 16th GTEP class graduation ceremony.
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