World-OKTA Organizes 9th Overseas Korean Economic Network Convention
- The annual meeting held in Jeju Oct. 29-30

The 9th Overseas Korean Economic Network Convention was held in Jeju from Oct. 29 to Oct. 30 with about 270 overseas Korean traders and businessmen, participating.
Under the theme "Construction of Korean Economic Network and Development of the Economy of Homeland", the 9th Korean Economic Network, Jeju was organized by the World Federation of Overseas Korean Traders Associations (World-OKTA) and the Korean Network Promotion Committee.
The Overseas Korean Economic Network, is held every year alternatively abroad or in Korea, is aimed at exploring ways of promoting information and expanding Korean-made exports among overseas Korean traders and businessmen. The 9th Overseas Korean Economic Network Convention, which followed the 3rd World Korean Economic Convention held in Jeju Oct. 27-28, was the last lap of a 10-day 2004 overall convention that started with trade consultations sessions in Pyongyang, North Korea, between Oct. 21 and Oct. 25.
Minister of Commerce, Industry, and Energy Lee Hee-beom said in his luncheon speech on Oct. 28 that the Korean economy, which has recorded $20 million worth exports in the first 10 months of the year, is forecast to raise exports to $40 million and the per capita national income to $20,000 in the not-distant future. To reach these goals, Minister Lee said, Korea is required to upgrade her industrial competitive edge to excellent standards by developing the industrial triangular pillars - mainstay industries, next-generation growth engine industries and a knowledge-based service industry. The minister said the next-generation traders' school project for overseas Koreans will be implemented continuously in a bid to foster second- and third-generation overseas Korean traders, and a database between overseas Korean traders and domestic Korean traders will be developed and the database will be connected with the domestic trade network for implementing collaboration projects.
In the following meeting, 20 overseas traders and domestic businessmen, including World-OKTA senior officials and chairmen of OKTA of each nation discussed matters of mutual concern. Minister Lee suggested the participants that World-OKTA should serve as a bridgehead for making Korea a trading powerhouse. The 10th Overseas Korean Economic Network Convention will be held overseas around next October.
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 registered as an economic and trade organization 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. These efforts are 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, from 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 from China and 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-elated institutions. nw