KITA Insights

In November, KITA hosted a variety of events to strengthen its business connections with key global partners.

● Doing Business in the U.S Seminar 2022

KITA (Chairman: Christopher Koo) co-held “Doing Business in the U.S. Seminar 2023” with the American Chamber of Commerce in Korea (AMCHAM) on November 18 at the COEX in Samseong-dong, Seoul. During the seminar, main topics included 1) U.S. trade and economic outlook, 2) key U.S policies and the impact of the U.S. midterm elections results and 3) investment in the U.S.

Celebrating the 10th anniversary of Korea-US FTA (KORUS) in 2022, the Korea-U.S. alliance has evolved into a future-oriented and comprehensive strategic alliance, broadening cooperation beyond security and economic issues to include climate change, advanced technologies, and socio-cultural connections.

As the ROK-U.S. alliance marks its 70th anniversary next year, it would be a critical turning point for both countries to advance their bilateral relationship to a greater height.

● Canada-Korea Business Roundtable

KITA co-hosted Korea-Canada Business Roundtable with the Embassy of Canada in Korea at the Trade Tower, Seoul. The Roundtable was attended by major Korean companies including Samsung C&T Corporation, SK Group, POSCO International, Hanwha Solutions, Kakao Enterprise Corp. and others.

Vice Chairman Marn-ki JEONG emphasized that at the Korea-Canada Summit in September, both leaders agreed to elevate its bilateral relationship to a Comprehensive Strategic Partnership. He also added that if we combine Korea's competitiveness in EV battery and semiconductor technologies with Canada's abundance in critical minerals, it will create the optimal synergetic partnership for both sides.

● A visit by H.E Jordanian ambassador to Korea

Her Excellency Jordanian ambassador to Korea Asal al-Tal visited the KITA on November 2 to discuss ways to strengthen bilateral economic cooperation in various fields of trade and tourism. Jordan boasts many of biblical and medieval sites to visit as a renowned tourist destination in the world. Major tourist attractions in Jordan include UNESCO World Heritage Sites such as Petra and Umm ar-Rasas, ancient cities such as Amman and Jerash, the Jordan River, the Dead Sea and Mount Nebo,

In addition, the Jordanian government is pushing ahead to build digital infrastructure and introduce an e-government while currently shifting its key industry to smart farming. In this regard, Korea’s advanced technologies including sensor and robotics can help facilitate digitalization in the country, creating great synergy between two countries. These are promising areas where Korean companies can join as well.