KITA News
  • KITA Opens “Center for Trade Studies & Cooperation”, Private Think Tank for Trade
    2020-01-30 hit 1067

    KITA Opens Center for Trade Studies & Cooperation, Private Think Tank for Trade

     

    - KITA’s Chairman Kim Young-ju, We will establish a system that can forecast and prevent trade risks in advance -


    - On the sidelines of the event, Direction for Korea’s Trade conference took place need to be prepared for US-China technology and finance wars -



     

    The Korea International Trade Association (Chairman: Kim Young-ju) opened Koreas very first think tank dedicated to trade Center for Trade Studies & Cooperationat the Trade Tower in Samseong-dong on January 30th

     

    Chairman Kim Young-ju of KITA, Director General for Trade Policy Bureau Yoo Myung-hee of Ministry of Trade, Industry and Energy, Professor Lee Hye-min of Seoul National University Graduate School of International Studies, Director of International Trade Institute Park Tae-ho from law firm Kwangjang and others participated in the event.  

     

    The Center for Trade Studies & Cooperation is Korea’s first think tank dedicated to trade and it will play a various roles, including current trade issue research, domestic and overseas outreach, and trade consultation for each company.

      

    Chairman Kim young-ju said in the opening ceremony, The vision of the Center for Trade Studies & Cooperation is to go beyond follow-up responses to trade issues practiced in the past and establish a system that can forecast and prevent trade risks in advance. He also added, Externally, we will carry out international events as well as joint research with overseas think tanks in order to reaffirm the status of Korea's trade. Internally, we plan to conduct a variety of projects such as accumulation and supply of scattered high-quality trade information, in-depth trade research, including analysis of the World Trade Organization (WTO) dispute cases, education and consultation to enhance trade capacity and professionalism of the government and corporations, etc.

      

    On the sideline of the opening ceremony, a conference titled Direction for 2020 Korea’s Trade took place. During the conference, the trade experts delivered presentations and discussions on the assessment of the first agreement between the United States and China and future prospects, Korea’s role in the midst of weakening WTO’s functions, digital trade and Korean companies’ countermeasures, etc. Some 150 individuals from trade industry, government, and academia participated in the conference and showed much interest in the future of the global trade environment.

     

    Professor Lee Hye-min said in the keynote speech, The US-China conflict will continue between the United State’s unilateral trade protectionism and China's national capitalism, and stressed, In addition, we must actively respond to changes in the international trade environment such as digital trade, revised WTO Agreement on subsidies, and Brexit and Korean companies need to review export strategies.

     

    Professor Ahn Duk-keaun of SNU emphasized, Korea needs to actively participate in the discussion on WTO reform led by the United States?European Union (EU)-Japan trilateral alliance. Director Jeon Byung-seo of the Chinese Economy and Finance Institution said, The recent first agreement between the United States and China is nothing more than stopgap measures that satisfy both parties’ political interests, and stressed, After the trade war, many expect that there will be technology and finance wars. Therefore, we need to keep an eye on changes in China's investment environment and find new business models to maintain the technology gap against Chinese companies.

      

    Executive Director Shin Seung-gwan, the head of the Center, said, The Center for Trade Studies & Cooper will provide a close service to help the trade industry establish trade strategies at an individual company level in a complex trade environment.” 


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