9th Korean Economic Network Convention Slated for Oct. 29 in Jeju
- Also participating in Pyeongyang-OKTA Trade Fair

The 9th Overseas Korean Economic Network Convention will be held in Jeju from Oct. 29 to Oct. 30 with about 300 people, including 50 invited guests, participating.

About 250 overseas Korean businessmen from 27 countries will get together to discuss how to build up a global network of Korean businessmen. Under the theme "Construction of Korean Economic Network and Development of the Economy of Homeland," the 9th Korean Economic Network, Jeju will be organized by the World Federation of Overseas Korean Traders Associations (World-OKTA) and the Korean Network Promotion Committee. The upcoming 9th Korean Economic Network, Jeju will be the last lap of a 10-day 2004 overall convention that will start with trade consultations sessions in Pyeongyang, North Korea, on Oct. 22.

About 160 businessmen from abroad and South Korea will make a five-day visit to North Korea from Oct. 21 through Oct. 25. A reception welcoming the delegations will be sponsored by the North Korean overseas brethren support committee.

The delegates will hold trade consultations with North Korean counterparts at the Hall of North Korean Peoples' Culture on Oct. 22 before touring an exhibition.

They will also participate in the 3rd World Korean Business Convention that will be held at the International Convention Center, Jeju from Oct. 26 and Oct. 28.

Lee Young-hyun, chairman of the World-OKTA, called for construction of an overseas Korean eco-nomic network in his speech prepared during the opening ceremony of the 3rd World Korean Business Convention. Lee said he is confident that Korea would take center stage in the so-called Pacific Era only when about 6 million overseas Koreans scattering around the world join forces and work together.

On the final day of the two-day session, the World-OKTA will hold its board meeting and Global Congress before wrapping up the Ninth Korean Economic Network with a declaration of the World-OKTA's vision for the 21st Century. The convention will hold a special event called "The 2004 World Music Festival for Overseas Koreans" featuring congratulatory poems and invitational pop song and folklore performances.

Lee Young-hyun, chairman of the World-OKTA, will deliver an opening speech during the opening ceremony slated for Oct. 29. MOCIE Minister Lee Hee-beom delivers his congratulatory message during the ceremony.

Former Minister of Finance and Economy Jin Nyum will speak in a special lecture, titled "The Future and Strategies for the Development of Korean People." OKTA country and branch representatives will take up the theme "KOTRA overseas branch offices and OKTA's Win-Win Strategy" during the Panel I session. The theme of the Panel II session is about how to foster next-generation overseas Korean traders.

The World-OKTA was established on Apr. 2, 1981 as a trade organization of overseas Korean traders centering around the United States and Japan with the goal of promoting the trade of homeland and enhance the profile of Korea around the world. The OKTA was reg-istered as an economic and trade organiza-tion of overseas Koreans under the umbrella of the Ministry of Commerce, Industry and Energy on Jan. 13, 1994.

Under the slogan "Korean People in the World with Unified Economic Sphere/ from Mt. Baektu to Mt. Halla," the World-OKTA holds the Overseas Korean Economic Network Convention every year with the goal of expanding exchanges of overseas Korean traders and businessmen working around the world, obtaining trade orders and holding consultations among the participants, contributing to the economic development through investments in Korea and their residing countries and promoting the rights of overseas Korean traders and forming consensus among them. The World-OKTA organized the sixth global representatives' meeting and a workshop for promoting Korean exports at the international conference hall of National Yeosu University in Yeosu between April 19 to April 22.

Fifty-five companies from industrial manufacturing, food processing sectors and fresh agricultural producers and 70 buyers participated in a trade consultation session held on the sideline of the sixth global representatives' meeting organized by the World-OKTA. The buyers broke down to 28 businessmen coming from the United States, 10 from Japan, five from Australia, three in China, three form Germany, two from the Philippines, and the others from Mexico, Canada, Vietnam and New Zealand. Second- to fourth-generation descendants of overseas Koreans underwent a trade educational program from July 19 through July 24, 2004.

The educational program, hosted by the Ministry of Commerce, Industry and Energy and organized by the World-OKTA, was aimed at fostering next-generation buyers dealing in Korean exports and building a global human network for facilitating Korean exports. The participants of the program toured KITA, KOTRA, COEX and other trade-related institutions.

They were also given an opportunity to make an observation tour to such industrial sites as Hyundai Heavy Industries in Ulsan and POSCO in Pohang.   nw