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KGPC News from March:

Celebrating the 10th Anniversary of

the KORUS FTA

(Click the image to watch the seminar in English and Korean)

On March 15th, 2022, KITA organized a seminar celebrating the 10th anniversary of the KORUS FTA took place at WTC Seoul.

Major participants included: Kwan-sup Lee, the Vice President of KITA; Hye-min Lee, the former Korean ambassador to France; Deok-soo Han, a former KITA Chairman and who was also a former Prime Minister; and Han-koo Yeo, the Minister for Trade from the Ministry of Industry, Trade and Energy.

As many of the participants were heavily involved in the negotiation process of the FTA ten years ago, the occasion was an opportunity to: evaluate the impact of the agreement on both Korea and the US, analyze the future direction of the trade agreements, and recognize the importance of free trade agreements.

Similarly, a presentation by Jeffrey Schott, a Senior Fellow of the Peterson Institute for International Economics (PIIE), noted the importance of the bilateral agreement and how it served as a model for future trade agreements with players like the EU.

MoU of Cooperation

with the CNPE of Nicaragua

On February 22nd, 2022, the CNPE (National Commission for Export Promotion) of Nicaragua signed an MoU of Cooperation with KITA.

The signing ceremony took place in February, and this is a belated celebration; however, it is an occasion worth celebrating nonetheless.

As both organizations are committed to boosting the bilateral trade relationship between Nicaragua and Korea, the MoU will provide the much-needed momentum to boost future collaboration.

Ms. Zeidy Bello, the General Director of Export Promotion of CNPE, and Mr. Hyun Chul Kim, the Vice President for International Affairs of KITA, were the two signatories. H.E. Rodrigo Coronel Kinroch, the Ambassador of Nicaragua to the Republic of Korea, also joined the event to give a congratulatory speech.

Korea-Singapore

Business Strategy Forum

On March 3rd, 2022, KITA organized the as a follow-up event to the Digital Partnership Agreement signed back in December 2021 between the two countries. The Singapore Business Federation, a valued KGPC partner of KITA, was one of the co-organizers.

The forum served as a platform to strengthen cooperation in the private sector for newly emerging digital industries and is expected to create a synergy effect between Korea and Singapore, the two digital hubs of Asia.