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  • KITA to Set Up ‘Center for Trade Information and Strategy’ in Second Half of This Year
    2019-07-17 hit 512

    KITA to Set Up ‘Center for Trade Information and Strategy’ in Second Half of This Year

     

    - Announced in ‘Trade Strategy 2020’ will provide professional consultation services for small and medium-sized companies -

     

    The Korea International Trade Association (Chairman, Kim Young-ju) announced its plan to set up a ‘Center for Trade Information and Strategy’ to provide professional consultation services to small and medium-sized companies with limited trade response capabilities.

     

    The Center for Trade Studies and Cooperation of the Korea International Trade Association stated in the report titled ‘Trade Strategy 2020’ issued on July 17th that the organization would run ‘Center for Trade Information and Strategy’ in the second half of this year for small and medium-sized enterprises that are struggling to manage and respond to trade risks by themselves due to lack of personnel and material resources.

     

    The Center for Trade Information and Strategy will mainly focus on consultation, research and survey, establishing trade information database and fostering professional human resources. The center will also collect advice and information from law firms, accounting companies and think tanks from Korea as well as other countries.

     

    The report also requested the government to take roles to reduce trade risks. In order to prevent damage to industries in Korea, the report suggested that Korea needs to introduce foreign investment screening system from comprehensive perspectives, including labor, security, and environment, to strengthen and complement the functions of trade remedy system in order to cope with unfair trade matters and to form a digital trade private-public consultative body with the cooperation of all government agencies. 

     

    Chairman Kim Young-ju of the Korea International Trade Association said, As the trade environment is changing drastically and negotiation agenda is expanding from industries to the whole economy such as labor and environment, it is urgent to work on the countermeasure strategies linking industry and trade. He added, We hope that ’Trade Strategy 2020’ will be helpful for Korean companies to overcome the trade difficulties. 

     

    In the meantime, the Korea International Trade Association held the 'Trade Strategy 2020 Seminar’ at the Trade Tower in Samseong-dong on 17th, in association with the publication of the report 'Trade Strategy 2020'. In the seminar, director Je Hyun-jung of KITA’s Center for Trade Studies and Cooperation, vice president Lee Yoon-hee (steel) of POSCO Research Institute and senior researcher Lee Hang-gu (automobile) of the Korea Institute for Industrial Economics & Trade made presentations and the panel discussion with the officials from industries was carried out under the theme of ‘Trade Strategies of Companies’.

     

    E-book version of the report is available to download at the website of the Korea International Trade Association (www.kita.net).


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