On April 4, Korea International Trade Association (KITA, Chairman: Christopher Koo) hosted the KUSEC Business Luncheon with U.S. Senator of Georgia Jon Ossoff at the Grand InterContinental Seoul. This event was attended by major Korean companies including Meta Biomed, Iljin Group and Genesis BBQ.
This year marks the 70th anniversary of the ROK-US alliance, which has evolved into the strongest alliance ever. Particularly, Georgia is one of the states where more than 130 Korean companies are making massive investment and expanding their business presence in various fields of automobiles, electric vehicle batteries, and solar power.
This event provided a valuable venue for Korea and the U.S. to reaffirm their resolve to further solidify a long-lasting alliance as well as explore future business opportunities.
On the occasion of a state visit to the U.S. by Korean President Yoon Suk Yeol, KITA Chairman also visited Washington D.C. and met U.S. Representative Young Kim with Chairman Myung-Bae Choi of YIKC, Korean manufacturing company of inspection equipment for semiconductor memories.
At the meeting, both leaders emphasized the importance of the KORUS FTA, which has been evaluated as a successful agreement. In addition, they agreed to join forces to pass the Partner with Korea Act that is designed to increase visa quota for Korean professionals in an effort to address the immediate issue of lack of specialized workforce in the U.S.
To celebrate the 70th anniversary of the ROK-US alliance, the KITA plans to dispatch a business delegation to Washington D.C. and hold Hill Reception to facilitate networking activities with key U.S. figures.
On April 10, Serbian Ambassador to Korea Nemanja Grbic visited the KITA to discuss ways to further strengthen economic cooperation and foster bilateral trade volume.
Serbia and Korea trade volume has steadily increased, hitting a record high of over $400 million in 2021. Serbia is strategically located in the Balkans with a breathtaking landscape and abundant natural resources such as coal, iron ore, oil and gas. Many of major Korean companies including Samsung and Hyundai Motor Company also have made significant investments in Serbia.
Through this meeting, both countries agreed to cooperate more closely to promote their business opportunities and facilitate bilateral trade volume.
On April 10, Brazil Ambassador to Korea Marcia Donner Abreu visited the KITA to solidify bilateral partnership and bolster trade between two countries.
Brazil is Korea's 23rd largest trading while Korea is Brazil's 11th biggest trading partner. Both countries have enjoyed a close relationship in various fields of semiconductor, automotive parts and others. As Brazil emerges as a new investment destination, Korea's investment in Brazil has steadily increased and Brazil is expected to be a noteworthy investment market.
This meeting served as a valuable opportunity to foster close ties and bilateral cooperation between Korea and Brazil.
The KITA co-hosted with Ministry of Science and ICT in COEX, Samseong-dong, Seoul from April 19 to 21 under the theme of . This Show, the country’s largest ICT exhibition, aims to share the latest technology trends and future prospects in the fast-changing ICT industry.
In addition to the exhibition, a total of 44 global buyers from 11 countries abroad were invited to have a business meeting either in physical or virtual format with 112 Korean companies to generate new business opportunities.