“Global Korean Business Network Expands Its Economic Reach Through K-Food”

2nd World Korean Business Forum Held in Mokpo, Focusing on Diaspora Economic Cooperation and SME Global Expansion**

(Mokpo = Yonhap News) Reporter Park Hyun-soo — Strategies for expanding the Korean diaspora economic network through K-food were discussed at the 2nd World Korean Business Forum, held on the afternoon of the 21st in Mokpo, South Jeolla Province.

The forum, hosted jointly by the Korea Office of Overseas Koreans (Commissioner Kim Kyung-hyup) and South Jeolla Province (Governor Kim Young-rok), took place at Hotel Hyundai by Lahan in Mokpo.

The event included an opening ceremony, keynote presentations, and panel discussions, bringing together more than 110 participants, including Deputy Commissioner Byun Chul-hwan of the Office of Overseas Koreans, Kang Wi-won, Vice Governor for Economic Affairs of South Jeolla Province, members of the Overseas Korean Business Advisory Group (OK-BIZ), and representatives from small and medium-sized enterprises.

In his opening remarks, Deputy Commissioner Byun said, “The mission of the Office of Overseas Koreans is to connect the capacity of the Korean diaspora with the collective capabilities of the Korean nation. In the economic sector, we will leverage the global network of Korean diaspora business leaders—centered around the Hansang community—to support overseas market expansion for Korean companies.”

Vice Governor Kang emphasized the importance of trusted partners in overseas markets, stating, “As traditional trade rules such as FTA and WTO frameworks weaken and a new, uncertain order emerges, the role of partners who understand local markets becomes even more critical. For companies seeking global expansion, the support of diaspora business leaders and international buyers is indispensable.”

Professor Lee Jin-young of Inha University delivered a keynote titled “From the Korean Economy to the Global Economy—Building a Glocal Network of Korean Business Leaders.” He described the global Hansang economic sphere as “a new ecosystem connecting economics, technology, and creativity,” and suggested that “strategic partnerships between diaspora businesses and South Jeolla’s strengths—particularly K-food—are essential.”

Danny Lee, Head of the U.S. subsidiary of Juna and an OK-BIZ committee member, presented strategies for successful U.S. market entry. He stated, “Entering the U.S. market is not an area where results come quickly. It requires systematic preparation and a long-term perspective.” He added, “Shift your mindset from product-centered to program-centered, create transactional value, and maintain continuous communication. Above all, the starting point is recognizing what you don’t know and approaching it with humility.”

Yang Kyung-ho, Director of Global Business at the Korean American Chambers of Commerce USA (KACCUSA), presented on “Advancing Korean SMEs into the U.S. Market Through Partnerships with Local U.S. Governments.” He emphasized that “mutual partnership is the key,” adding that “a collaborative model involving four entities—Korean government and local authorities, Korean SMEs, Korean American business leaders, and U.S. local governments—must be developed to produce win-win outcomes.”

Kim Young-mi, CEO of Youngmi Beauty, presented successful cases of overseas expansion through collaboration with diaspora business leaders, noting, “The export preparation process can take three to five years, but persistent effort creates opportunities.”
CHO Hanna, Director of KOTRA Gwangju–South Jeolla Office, introduced support programs and practical methods for Korean SMEs and diaspora entrepreneurs to overcome uncertainty through the growing cultural influence of the K-food industry.

In the panel discussion that followed, participants examined practical strategies and localization approaches for Korean SMEs entering global markets. Business leaders with U.S. expansion experience, government officials, and export support organizations shared insights, case studies, and policy recommendations.