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
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
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.
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.
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.
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
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
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.