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  • KITA “Korea-ASEAN & India Business Week 2020”... Suggested Future Vision for Mutual Prosperity
    2020-10-13 hit 1595

    KITA “Korea-ASEAN & India Business Week 2020”... Suggested Future Vision for Mutual Prosperity

    - 11 economic online and offline events such as 'ASEAN & India Pavilion, online consultation, etc. took place simultaneously -

    - Professor Joseph Stiglitz, “Asian countries that have succeeded in quarantine must take the lead in building a new economy in the post-COVID-19 era -

     

    The Korea International Trade Association (Chairman: Kim Young-ju) and Presidential Committee on New Southern Policy co-hosted “Korea-ASEAN & India Business Week 2020” for two days from October 13th.

     

    This event held under the theme of “Future Prospect for Co-Prosperity of Korea-New Southern Region,” is a prominent business network event in which corporates from Korea and the countries in the New Southern region participate. The event included various programs including ▲mutual prosperity business forum, ▲online meeting with big buyers from the New Southern market, and ▲various seminars. Over 500 individuals from Korean corporations operating in the New Southern market, KOTRA, Seoul Business Agency, the Human Resources Development Service of Korea attended the event both online and offline in order to seek ways to overcome COVID-19 crisis through mutual cooperation.

     

    Chairman Kim Young-ju of KITA stated in his opening speech, “Overcoming COVID-19 crisis will be an important turning point that determines the future of not only the New Southern region but also the entire Asia,” and emphasized, “Korea will have to reinforce its cooperative framework with the countries in New Southern region in various fields including public health, medicine to fight COVID-19, finance, security, environment, and culture and fine arts .”

     

    Park Bok-young, Head of Presidential Committee on New Southern Policy, said “Although exchanges between Korea and New Southern countries have become difficult due to the recent COVID-19 crisis, new opportunities for cooperation are emerging even in the midst of crises, such as Korea's medical industry has been re-examined and the contact-free industry is rapidly growing with “K-quarantine” in the New Southern region,” and added, “The government will continue to strive for win-win prosperity through multilateral cooperation between Korea and the New Southern region to make the most of these opportunities.”

     

    The keynote speaker of the forum, Joseph Stiglitz, a professor at Columbia University and a recipient of the Nobel Memorial Prize in Economic Sciences, mad a remark, “In a situation where it is difficult to expect a V-shaped recovery of the global economy, it is expected that Asia's share of global gross domestic product (GDP) will increase after coronavirus pandemic with successful quarantine measures by several Asian countries, including Korea,” and added, “Asian countries that have succeeded in quarantine must take the lead in building a new economy in the post-Covid-19 era.”

     

    Lim Jung-wook, Managing Partner of TBT Partners, participated in the forum as a moderator of Startup Session and said, “Due to COVID-19, crisis and opportunity coexist in the startup ecosystem in the New Southern region,” and elaborated on new business environment, “Although the economy is shrinking and many companies are struggling, digital, mobile-based fintech, mobility, and e-commerce startups in the New Southern region are seizing faster growth opportunities.”

     

    At the new Southern market entry strategy seminar held simultaneously as the win-win business forum, presentations were delivered under various topics such as ▲ changes in the New Southern market due to COVID-19 and response strategies, ▲ current status of the New Southern food and beverage market and K-food entry plans, and ▲ entry strategies into the e-commerce market in the New Southern area.

     

    For the Export Consultation, “ASEAN & India Big Buyer Online Conference,” which connects more than 250 local buyers from the New Southern region including big buyers, such as Thailand's Big C Supercenter, Vietnam's Lotte Mart, and Singapore's Shopee, with 350 Korean small and medium-sized companies and “Online Business Meetings for Certified Trading Company”  in which 10 certified trading companies including Asia B&C consult and support exports to the New Southern region will take place together.


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