The Korea Trade-Investment Promotion Corp. (KOTRA) will revamp its operation and service regimes to maximize job creation through exports and attracting of investments.
At a news conference marking the 55th anniversary at Gwanghwamun, downtown Seoul on June 14, KOTRA President Kim Jae-hong unveiled a blueprint for the establishment of a new global business platform for economic resurgence and job creation.
KOTRA will introduce a policy consumer-oriented, autonomous choice-based support service system while overhauling organization and functions the way export support for SMEs and mid-size superstars can be ramped up.
The corporation has decided to strengthen its organizational capabilities to expand exports and attract investments as a means of creating jobs and promoting economic recovery in an efficient fashion.
Despite the sagging global economy, exports are still considered to be an essential force behind Korea’s national economy, driving economic growth and job creation.
The luring of foreign direct investments (FDIs) not only eases an imbalance between Korean and foreign investments (as well as the globalizing and continued growth of the national economy) but it also contributes to growth potential by strengthening industrial competitiveness through the attraction of advanced technologies.
KOTRA plans to raise the efficiency of support policies for SMEs and mid-size superstars through an export voucher system, the commercialization of big data, and the revamping of export systems. The export voucher program, under which SMEs select how they can get support, is designed to create and export support ecosystem.
The corporation will inaugurate the Customer Service Support Headquarters to expand support services for SME and mid-size superstar exporters, while upgrading policy support projects and services to create quality jobs in Korea and abroad. It will establish an overseas cooperation system designed to integrate commercial cooperation, economic diplomacy and development collaboration.
Starting June 20, KOTRA will launch an overseas service to analysis big data. It will be tailored to meet consumer companies’ needs by making the most of big data in trade and investment, including about 700,000 import and export stats, and an annual average of 40,000-odd trade and investment consultations in line with the advent of the 4th Industrial Revolution.
KOTRA also plans to upgrade programs to nurture domestic demand companies into exporters and ones tailored to provide support according to their export capabilities, while strengthening support to export consumer items, services and core items of the 4th Industrial Revolution. The corporation will diversify export markets to advanced countries and strategic markets, including ASEAN states and India, while accelerating efforts to overhaul an export structure by expanding the uses of new export channels, including online commercial transactions and G2G trades.
“KOTRA will dramatically change its work and service regimes to make exports and the attracting of investments a driving force of the national economy for job creation and economic recovery,” KOTRA President Kim said.
KOTRA will strengthen cooperation with government agencies and related organizations to provide support for globalizing SMEs and mid-size superstars.
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Dignitaries, including MOTIE Vice Minister Lee In-ho and KOTRA President Kim Jae-hong, attend a ceremony to market the 55th anniversary at KOTRA Headquarters in Yangjae-dong, Seoul, on June 20. (Photos: KOTRA)
