Korea International Trade Association (Chairman: Christopher Koo) and the Ministry of Industry, Trade and Energy hosted the “New Southern and New Northern Trade Cooperation Forum 2021” on December 27, 2021 at COEX in Samseoung-dong, Seoul.

Gwan-seop Lee, the Vice President of KITA mentioned in his opening remarks, “With accelerating reorganization of global supply chain and digital transformation, a new model of cooperation between Korea and New Southern and New Northern countries is needed” and also added, “It is my hope that this forum will serve as an opportunity to reflect on the results of New Southern and New Northern policies and ponder on future directions.” New Southern and New Northern countries refer to ASEAN countries & India and the former Soviet bloc countries respectively.

Items discussed during the forum were targeted on the outcome and implications of New Southern and New Northern policies, including a) an examination of the direction on the cooperation in the supply chain sector with New Southern region countries, b) supporting exports through utilizing digital business infrastructure, c) pushing ahead carbon neutrality in partnership with New Southern and New Northern countries by utilizing Official Development Assistance (ODA) and d) reviewing the ongoing palm tree farm projects in Indonesia. The forums also provided an opportunity to ponder on the direction of private-public cooperation in the future.