President Kang Kyung-sung of Korea Trade-Investment Promotion Agency (KOTRA) took office at an inauguration ceremony at the organization’s headquarters in Yeomgok-dong, Seoul, on Nov. 11.
KOTRA President Kang began his public office career after passing the 29th class of the higher technology examination.
He held major positions, such as secretary in charge of industry policy at the first presidential secretariat under the President Yoon Suk-yeol government, and first and second vice minister of the Ministry of Trade, Industry and Energy (MOTIE).
Kang has been evaluated to be a seasoned energy policy expert. He was director of nuclear energy policy, director in charge of petroleum industry and deputy minister in charge of energy resources, all with MOTIE.
In his inaugural speech, President Kang said, “KOTRA will devote itself to accomplishing KOTRA’s missions of the times — rising to be a global top five exporter powerhouse, an investment power and a global trade core leader.”
In order to become a global top 5 export power, he stressed that KOTRA will have to serve as “Korea’s excellent export guide,” explore and nurture export leaders, items and markets, and continuously support the whole process of export through market surveys, exploration of buyers and addressing of grievances and complaints.
He also emphasized the need to provide professional export support services to expand strategic industry exports, such as nuclear power, bio, defense industry and services.
President Kang called KOTRA a “nimble global watchman,” saying that KOTRA will have to spot foreign crisis signals and market opportunities as soon as possible, and address them in a fast and in-depth fashion.
He called for establishing strategies and aggressively implementing projects to support each region’s opportunity factors, such as the emergence of “global south,” developing countries of the southern hemisphere, and major countries’ nurturing of advanced industries.
President Kang proposed digital utilization to max out corporate support capabilities. To this end, processes of support projects need to be digitalized and generative AI technologies will be utilized.
President Kang said KOTRA’s overseas trade office network is a global business infrastructure all companies, government ministries and public organizations can utilize and KOTRA will have to create synergetic effects by proactively comply with inside and outside collaboration demand.
KOTRA Conducts ‘2024 Boom-up Korea,’ Largest-Ever Marketing Event to Prop Up Exports and Domestic Demand
The Ministry of Trade, Industry and Energy and Korea Trade-Investment Promotion Agency (KOTRA) held “2024 Boom-up Korea,” the largest-ever export negotiations session,
2024 Boom-up Korea, which took place for a two-week run from Oct. 16, was a comprehensive export marketing program connected with 20 industry exhibitions and export negotiations sessions held across the nation.
In the past, Boom-up Korea had been held in the form of a single export negotiation session.
But 2024 Boom-up Korea took place in the form of a week for the first time — collaboration among top four exhibition centers and each industry association.
Approximately 1,200 foreign buyers from 62 countries, including GM, Panasonic and IDB, were invited through KOTRA’s overseas trade officials.
2024 Boom-up Korea attracted about 3,000 promising export companies and as many as 200,000 spectators, becoming the largest-ever export marketing event.
KINTEX in Goyang, north of Seoul, was the venue of “2024 Boom-up Korea” export negotiations sessions and Robot World while COEX in Seoul was the venue of KES 2024 and SEDEX 2024.
Daegu International Future Auto & Mobility Expo was held in EXCO in Daegu while Offshore Korea 2024 took place in BEXCO in Busan.
The event featured exhibition pavilions displaying advanced industries, such as future car, nuclear power and bio.
Hyundai Motor showcased high-performance hydrogen-EV hybrid conception cars while a wireless communication and information system for nuclear power, commercialized for the first time in the world by Il Shin EDI, was on display on top of the nation’s first trade payment card settlement platform (VISA).
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