OKTA will expand Korea's global footprint
By Kim Jae-kyoung
SINGAPORE_ The head of the World Federation of Overseas Korean Traders Associations
(World-OKTA) said it will play a major role in expanding Koreas global footprint by supporting the
globalization of small firms and helping young Koreans start businesses abroad.
"We will place top priority on helping Korean small- and medium-sized enterprises
(SMEs) find a way to win exports by taking advantage of our overseas network,"
World-OKTA Chairman Park Ki-chool said in a recent interview.
World-OKTA is the nations oldest and biggest overseas Korean economic federation
with 137 branches in 70 countries. It has over 23,000 members.
On Feb. 16, the federation set up the Global Business Center at KINTEX in Goyang,
Gyeonggi Province, to offer "more practical and comprehensive" help for both SMEs
seeking expansion abroad and overseas Korean firms looking for opportunities in
Korea.
He said that OKTA is well aware that finding overseas buyers is the biggest
challenge for SMEs, particularly those in small provincial cities. The federation is already working together with several cities, including Gumi and Jinju.
"KOTRA and other state-run organizations are doing similar services but I was told
that their services were not really helpful in reaching business deals. Our goal is to
provide a service that leads them into a real contract," he added.
"We can draw up a customized exports program and help them use our network so
that they can find a buyer abroad," he said. "For example, our members in the
United States can share information about products and markets there. Then we can
help them hold an exhibition and set up a meeting with a buyer."