From June 1 to 2, Korea International Trade Association co-hosted NextRise in COEX, Seoul with KDB Bank. As the largest startup fair in Korea, NextRise is where entrepreneurs, accelerators, VCs, and industry leaders from around the world come together to share their insights and present disruptive innovations.
This year's conference was the largest-scale ever, which was joined by about 450 startups from 17 countries. Furthermore, more than 3,200 B2B meetings between conglomerate/VCs and startups were held to explore new business opportunities and build new business network.
This event served as a catalyst to accelerate innovation and create synergy as a step forward for Korea to become a powerhouse in the startup ecosystem.
On occasion of the Nextrise, KITA co-hosted the Fortune 500 Open Innovation Roundtable on May 2 at the Trade Tower in Samseong-dong, Seoul.
This business roundtable was attended by nine of Fortune 500 groups including BP, Ford and HP to discuss the status quo and future responses by each industry.
All leaders agreed that the world is in the middle of a transition to Net Zero era, which means global business leaders should now focus on new sources of energy such as hydrogen and nuclear power plant. A company that refuses to adopt AI and technologies will lag behind in these fierce business environments.
On June 7, KITA held the Korea-Azerbaijan Business Forum together with the Azerbaijan Export and Investment Promotion Agency (AZPROMO).
Despite the global economic slowdown, bilateral trade between the two countries reached a record high of $180 million in 2022, marking a 72.5% increase compared to the previous year.
With its abundant natural resources, Azerbaijan has been pursuing the ‘Azerbaijan 2030’ since 2021, which aims to promote non-oil industries and industrial diversification. The country actively fosters green industries such as smart cities and renewable energy, offering numerous opportunities for cooperation with Korean business community.
As bilateral trade volume continues to expand, areas for future cooperation will also expand. KITA will spare no effort in supporting Korean companies with significant expertise and experience.
KITA held KITA global business conference on June 9 at the Samseong-dong Trade Tower under the theme of Korea’s strategy for economic security and carbon neutrality as well as measures towards China by major countries of the U.S. and E.U.
This conference was joined by about 150 persons from trade industry, foreign embassies in Seoul and academia, indicating great interest towards global industrial policy trends.
The U.S. and the EU are global leaders in strengthening supply chains while reshaping international norms with new eco-friendly standards.
KITA will continue to hold conferences and seminars on trade issues related to economic security, environmental transition, and other trade environment issues with the latest information on these topics.