The meteoric growth of the Korean economy, which enabled the nation to become the global economic power it is today, is a fact that is widely known and respected throughout the world.
In this process, the Korea International Trade Association (KITA) has played a vitally important role in Korea’s economic and industrial development, as one of the key institutions linking Korean companies to the outside world through the most crucial years of the nation’s industrial expansion.
Founded in 1946, KITA is the largest business association and one of the most influential economic organizations in Korea, with 65,000 member companies and numerous offices in Korea and abroad. The organization’s key roles are two-fold: providing support for member companies and working to remove obstacles that prevent trade and international commerce; and on the global level, promoting free trade and facilitating the signing of free trade agreements between Korea and its trading partners around the globe.
About KITA & Its Main Activities
With its headquarters located in the Korea World Trade Center in Samseong-dong in the heart of Seoul, as well as 11 offices in South Korea and seven branch offices abroad, KITA collects, analyzes and publishes economic data and surveys that help its members make informed and accurate business decisions. The association oversees trade fairs and exhibitions that involve its member companies, provides consultation for developing overseas markets, and acts as the link between Korean and foreign companies, and government agencies involved in commerce and trade.
The services provided by KITA are indispensable resources for Korean companies operating abroad. The association provides translation services, web site creation and maintenance support, human resource management support, and a wide variety of other programs designed to aid day-to- day business operations. KITA also utilizes the network of Korean expatriates and Koreanowned businesses abroad to manage a cooperative matrix of Korean firms and entrepreneurs who have already blazed a path in the global market.
KITA to Boost Korea’s
Another key role of KITA involves trade shows and exhibitions, which have become one of the most important tools for global trading companies. KITA matches global buyers with leading Korean companies through expert consultants, tours and pays personalized attention to visiting buyers in order to maximize business opportunities during the duration of their visit to Korea.
In addition, KITA runs exhibitions in major cities around the world to introduce top Korean products to overseas buyers and marketers. Furthermore, KITA has lately launched diverse supporting projects such as ‘Trade SOS,’ a new trade consulting and support team; ‘Specialized Trading Company,’ a program to link the designated leading exporting companies with promising local manufacturers.