New Chairman Christopher Koo of the Korea International Trade Association (KITA) delivers his inaugural speech after he was elected as the 31st KITA chairman at the 2021 general meeting at COEX in Samseong-dong, Seoul, on Feb. 24. (Photos: KITA)

Chairman Christopher Koo of LS Group took office as chairman of the Korea International Trade Association (KITA) on Feb. 24.

KITA held a regular general meeting at COEX in Samseong-dong, Seoul, in the morning of the same day and elected Chairman Koo as its 31st chairman.

On Feb. 19, KITA had held a meeting and recommended Chairman Koo as the next chairman candidate unanimously.

In his inaugural speech, Chairman Koo said, “It’s a great honor to take helm of KITA, boasting history and heritage, and I will devote myself to helping the Korean trade industry make a leap by overcoming a crisis, caused by the COVID-19 pandemic, facing about 70,000 member companies based on experiences I’ve accumulated at company sites during my lifetime and ramping up global competitiveness.”

“KITA will serve as a test-bed of the trade industry to help member companies realize digital transformation and explore new support steps and business models corresponding to an era of digitalization,” he said.

KITA’s business portfolio will be changed with a focus on promising new industries and new emerging markets through choice and concentration and its global network capabilities will be concentrated on raising outcomes of core projects, Chairman Koo said.

Chairman Koo said he will attentively lend an ear to field voices in a humble fashion. Former government officials had been appointed KITA chairmen until 2006. Chairman Koo became the first businessman-turned KITA chairman in 15 years.

Prime Minister Chung Sye-kyun and KITA Chairman Christopher Koo test-operate products, produced by winners of CES 2021 Innovation Awards at Coex in Samseong-dong on Feb. 10.

Ex-MOTIE Vice Minister Lee Elected as KITA Executive Vice Chmn.

Former vice minister Lee Kwan-sup of the Ministry of Trade, Industry and Energy (MOTIE) was elected as executive vice chairman of Korea International Trade Association (KITA).

KITA Executive Vice Chairman Lee graduated from Seoul National University Business Administration Department and completed a master’s degree from Harvard University.

He passed the 27th high administrative examination and held prominent posts such as MOTIE deputy minister in charge of industry policy and energy and MOTIE vice minister. He once served as president of Korea Hydro & Nuclear Power Co.

Korea’s export items which topped the global market totaled 69 in 2019 to rank 11th in the world. The figure was the highest-ever one, seven more than 62 global No. 1 Korean-produced items in 2018.

Korean-produced export items which took top spot in the world in 2019 included 27 items in the chemical sector and 18 products in steel and nonferrous metal segment – the two sectors accounting for two-thirds of the total.

Korean-produced solid state drive was valued at $4.7 billion to join global No. 1 items in 2019. In particular, the value of exports surpassed the $10 billion territory last year to make the item a mainstay export product.

Figures, released by the International Trade and Commerce Research Institute of Korea International Trade Association (KITA), showed that China placed 1st with 1,759 global No. 1 items, followed by Germany with 654 items and the United States with 520 items.