"Trade Korea" Event to Explore Overseas Markets

The Ministry of Knowledge Economy held the "Trade Korea" event on Feb. 23 to help domestic exporters tide over the current economic crisis by actively exploring overseas markets.
About 500 guests including Knowledge Economy Vice Minister Kim Young-hak, senior officials from KOTRA and CEOs of small and medium-sized exporting firms attended the event at COEX Inter-Continental Hotel in Seoul.
The event was designed to help local exporters tide over the current economic crisis and create a favorable climate for them, a ministry spokesman said, adding that Korea's exports dropped by 32.8 percent in January from a year earlier.
Vice Minister Kim said, "Owing to the global economic crisis, export conditions at home and abroad are very difficult. However, there are also such positive factors as the won's depreciation against the dollar, the Chinese government's stimulus package and chances to expand SOC exports." Noting that Hyundai Motor's car exports to the U.S. increased by 14 percent against a 30 percent drop in U.S. sales of Toyota and GM Daewoo vehicles, Kim said, "Korea can expand its exports and actively explore overseas markets according to our will and efforts." Related to this, the government launched an "emergency countermeasure task force" to solve domestic exporters' difficulties in shipping their products overseas and employ all possible means to expand exports, he said.
"In particular, the ministry will actively support local companies hoping to advance into China, the Middle East and Latin America, while attracting foreign buyers to Korea for direct consultations with domestic exporters." At the event, meanwhile, KOTRA announced its overseas marketing action plan, which includes strategies to actively attack IT and plant markets in foreign countries, including China. nw

INT'L FORUM - International and Korean experts and policymakers, including Vice Minister for Trade and Energy Kim Young-hak, share views on global economy and trade during Global Korea 2009 organized by the Presidential Council for Future and Vision at Lotte Hotel in Seoul on Feb. 23.