Lee Sang-duk, head of the Korea Overseas Korean Service, announces the 2025 work plan of the Korea Overseas Korean Service at a press briefing at the Korea Overseas Korean Service Welcome Center in Songdo, Incheon, on Nov. 11. [Korea Overseas Korean Service]

“At the 23rd World Korean Business Congress (WBC) in the United States in April, we will actively build a ‘Korean-American economic zone’ that unites Korean businesses and the Korean community.”

“We are planning various ways to strengthen linkages between Korean companies and Korean-American businesses,” said Lee Sang-duk, head of the Korean Overseas Korean Affairs Office, at the ‘2025 Business Promotion Plan Briefing’ held at the Korean Overseas Korean Welcome Center in Songdo, Incheon, on April 11.

The agency cited strengthening the ‘Korean-American network’ as one of its five key initiatives this year. Organizing the World Korean Business Congress is part of this initiative.

“Many of our companies have already confirmed their participation in the World Korean Business Congress,” Lee said, adding, ”Infrastructure inspections, including the convention center and accommodation facilities, are progressing smoothly in cooperation with the General Federation of Korean American Chambers of Commerce and Industry.”

“We are also actively consulting with domestic economic organizations such as trade associations, the Korea Chamber of Commerce and Industry, and the Korea Chamber of Commerce and Industry,” Lee said, adding, ”We will soon send a team of officials from the Korean Overseas Korean Affairs Office to Korea to participate in the preparations.”

The World Korean Chamber of Commerce is a global business event that aims to help Korean small and medium-sized enterprises (SMEs) and Korean businesses expand their sales channels and attract investment. Every year, more than 3,000 Korean and foreign businessmen and women and 10,000 general visitors participate. In addition to one-on-one business matching opportunities, the event also provides business advice through public procurement forums and VC investment forums.

In particular, the event aims to build the ‘Hansang Economic Zone’ that encompasses the Hansang network and domestic companies. The concept is that production, consumption, trade, investment, and labor mobility are carried out in one economic zone. It is expected to be a new business breakthrough as protectionism and supply chain insecurity have intensified in recent years.

The Korea Chamber of Commerce and Industry has recently been helping domestic companies diversify their sales channels by holding domestic and international events. After the first California edition in 2023, it will be held in the U.S. for the first time since it was held in Jeonju last year. “We will also closely communicate with local organizations in the Americas to surpass the first California Korean Business Congress held in the United States two years ago,” Lee said.

The Korean Overseas Korean Association plans to use the event as a platform to connect Korean companies and Korean businesses. To this end, it plans to actively identify business programs that meet the needs of Korean companies and Korean businessmen. The event will include a startup contest, a venture capital investment forum, and a seminar on accessing U.S. procurement.

Sources: Maeil Business

https://www.mk.co.kr/news/business/11238261