KITA News and Reports
  • KITA Announces 6 Core Businesses to Build Advanced Trade Foundation at Regular Meeting of 2017
    2017-03-03

     

    KITA Announces 6 Core Businesses to Build Advanced Trade Foundation at Regular Meeting of 2017

     

     

    The Korea International Trade Association (Chairman, Kim In-ho) held the regular meeting of 2017 and announced six core business promotion plans to support the trade industry through the establishment of advanced trade foundation and to enhance the dynamics of the Korean economy. 

     

    Some 700 representatives from the trade industry attended the meeting held at COEX in Samseong-dong, Gangnam-gu on the 23rd (Thursday) morning, and the Korea International Trade Association (KITA) decided to select 6 business strategies and promote them. They are: to strengthen export competitiveness of small and medium sized companies, to establish of the foundation to export new growth engines such as service and convergence industry, to foster customized trade manpower and expand export base, to transform export paradigm and lead new markets, to realize trade center which is approachable from the whole nation, and to create a good trading environment for enterprises.

     

    KITA’s chairman Kim In-ho said, "As the global economy slowed down last year, the exports have decreased over the last two consecutive years. Korea’s trade industry has gone through very difficult year due to the uncertainties resulted from the Brexit, the US presidential election and the bankrupt of Hanjin Shipping. The ongoing political upheaval has had a profound impact on our economy and trade." He added The Korea International Trade Association will make every effort to re-establish Korea's trade and find new growth engines."

     

    In order to do so, KITA will provide customized comprehensive consultation service by expanding dedicated advisory committees to strengthen the export competitiveness of small and medium-sized enterprises. KITA will also provide the latest comprehensive trade information, including trade statistics based on the Big Data platform. In addition, KITA is planning to support the export of small but strong enterprises as well as start-up businesses’ overseas marketing activities through the operation of professional trading firms, attending promising overseas exhibitions, and improving the utilization of electronic commerce.

     

    Second, in order to export service industries, KITA will propose policies for enhancing competitiveness through communication with the seven promising service industries such as tourism, medical care, and contents. In addition, to support the advancement of the converged products of ICT and IoT into overseas markets, KITA is planning to operate councils for exports of six sectors, including 3D printer, Internet of Things, and virtual reality, and send observers to major overseas exhibitions.

     

    Third, KITA plans to foster trade experts with capabilities of 3Ts (Trade, Trend, Technology) who can contribute to the era of trade and IT convergence in response to the changes of the trade paradigm such as the Fourth Industrial Revolution. To this end, it will open new ICT and trade convergence courses and run the courses to train export professionals who will be able to converge the core industries with other industries such as textiles, automobiles, and parts.

     

    Fourth, in order to cope with new trade order such as proliferation of trade protectionism, KITA is planning to strengthen the activities of trade research as well as policy making by increasing trade professionals. It will also actively seek to find and resolve non-tariff barriers such as import regulations on foreign countries. Moreover, KITA will open up the markets with private-sector through the economic and trade cooperation with major countries, including the US, EU, China, and Russia.

     

    Fifth, KITA will enhance the public service through Trade Center ‘CSR Zone’, Mecenat* business and the Trade Academy Education Sharing projects. Also, in order to establish a trade center as an international attraction that will play a pivotal role in the business and tourism industry, a variety of events will be carried out.

     

    * CSR-Zone provides free-of-charge space to non-profit organizations and institutions that are engaged in social contribution activities. The Mecenat project is to sponsor art groups and to invite the less fortunate of local culture and arts

      

     

    Finally, KITA will work to create a good trade environment by proposing trade policies to improve export conditions by constantly grasping troubles and trade-related regulations at trade sites through 'TradeSOS', trade trouble shooting online system, and holding local business councils.

     

     

    This year's global economic environment is expected to deepen uncertainties and inscrutability due to the advent of the Fourth Industrial Revolution and the spread of protectionism, and KITA will concentrate its all efforts to create a favorable environment for enterprises through the creation of an advanced trade foundation.

     

     

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