KOTRA held an inauguration ceremony for its 19th CEO, Kim Jae-hong
Aims to Develop 100,000 export SMEs and 400 export companies worth USD 100 mn by 2017

The Korea Trade-Investment Promotion Agency (KOTRA) held a meeting to kick off the new year and celebrate the inauguration of its new CEO, Kim Jae-hong, on January 2.

Kim said in his inaugural speech, “Korea, which is highly dependent on external factors, has made breakthroughs in overcoming crises with help from outside.” He also said that KOTRA should open and lead a new trade paradigm despite the weak export environment.

Other excerpts from his speech are as follows:

“We will spare no effort in supporting small- and medium-sized companies (SMEs) to become the drivers of export. I will strive to develop 100,000 export SMEs and 400 specialized global companies during my term, until 2017. It is vital to expand the outcomes of a creative economy around the world. Therefore, we will proactively support the globalization of venture capitals by cooperating with 17 creative economy innovation centers in Korea.”

“The manufacturing-centered trade structure cannot help us reach the KRW 2 trillion trade level. Therefore, we have to pioneer new export sectors, including cultural contents, medical care, agricultural and fisheries products and defense. We will change the functions and organization of KOTRA to respond to new trade methods, including transit and processing trade, electronic transactions and G2G.”

“KOTRA will help local companies effectively enter economic territory that has been expanded following the outcomes of free trade agreements (FTAs) and economic diplomacy. KOTRA will be at the forefront of encouraging local companies to maximize the use of Korea’s recent FTAs with China, Canada, Australia, New Zealand and Vietnam. To enhance the effects of the Korea-China FTA, we will proactively attract foreign investment, including research and development centers and global headquarters, to ensure a preemptive approach for securing the Chinese domestic market and to transform Korea into an advanced base for this market. Thanks to economic diplomacy, we have won USD 51 billion in orders and foreign investment over the last few years. Therefore, we will make sure that local companies take advantage of the network and information that have been established due to economic diplomacy.”

“In order to fulfill our duties and responsibilities, KOTRA will do business from the vantage point of its customers. In this regard, we will not only strengthen open collaboration through which we can share our information about overseas markets and products with relevant organizations, but also transform to provide sustainable support instead of one-time support.”

“I will also strive to create a pleasant working environment in which employees can develop their potential and capabilities. I want my employees, who have accumulated various experiences and diverse expertise working overseas, to share their development experiences with developing countries and contribute to the development of multicultural society when they retire. I will change the work environment of KOTRA so that work and family can stand side-by-side. I will do my best to ensure that KOTRA, which has received an “A” in the management assessment for three consecutive years, will continue to lead responsible management as the best public organization in Korea.”

“Many thoughts ran through my mind while I was watching “Misaeng,” [a Korean television drama whose title means “incomplete life.”). Every person and company strives fiercely to become “complete” from “incomplete.” The way SMEs become specialized global companies via overseas markets and foreign companies create new markets through Korea, KOTRA will always be there for its customers as they go from being “incomplete” to “complete.”