ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) An annual conference of Korean business leaders from around the world kicked off on Friday in this southeastern port city, with participants set to discuss ways to help boost the country's exports and economy.

The annual meeting of the World Federation of Overseas Korean Traders Association, or World-OKTA, will be held for a three-day run, attended by about 600 members who are doing business in 70 different countries and 100 cities worldwide.

Co-hosted by Yonhap News Agency, South Korea's key news service, and the local government, this year's conference will also be attended by leaders from some 100 local small and medium-sized companies.

"We ask you to have earnest discussion with local officials, businesspeople and younger generation, communicate with them frankly and put your heads together in a way that help your mother country's economy make a leap forward again," Yonhap News Agency President and CEO Park No-hwang said in a welcoming speech read by Sim Shoo-hwa, the company's marketing executive director.

On the sidelines of the conference, talks will be arranged between local entrepreneurs and those with overseas sales networks as part of efforts to provide information and consulting needed to expand exports.

A job fair will be held for younger people seeking jobs overseas. Participants will also have a chance to tour major industry facilities including Hyundai Motor Co. located in Ulsan.

Established in 1981, the World-OKTA has emerged as a major trading association for Korean businesspeople active in foreign countries, seeking to help strengthen their networks and contribute to the country's economic growth.

The association has currently around 6,600 members and 133 offices in 68 countries, with its head office located in Seoul.

Meanwhile, the World-OKTA signed a memorandum of understanding on Friday with the country's techno park operators under which it promised to form friendly ties with local small enterprises and help them advance into overseas markets.

South Korea currently runs 18 techno parks or industrial complexes which were set up to nurture industries and boost businesses activities tailored to meet the needs in each provincial region.

kokobj@yna.co.kr

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