Invest KOREA

An MOU on trade investment and tourism was signed on Apr. 27 in Mapo Oil Tank Culture Park
Various hands-on experience programs on Korean culture will be provided to global business leaders while sharing of tourism ad contents is promoted

KOTRA (President YU Jeoung Yeol) and KTO (President Kim Jang Sil) signed an MOU on Apr. 27 in Oil Tank Culture Park located in Sangam-dong, Seoul. Those two institutions plan to combine KTO's contents on tourism attractions in Korea and Kotra's efforts to promote trade and investment, which enable them to leverage the influence of soft power to overcome hardships surrounding trade and investment caused by volatilizes in the global landscape.

The MOU ceremony was held in Oil Tank Culture Park, one of the 'Unique Venues'* selected by KTO. Among the participants were Commissioner Kim Tae Hyung of KOTRA Invest Korea and Director Seo Young Choung of KTO International Tourism Division.

*Korea Unique Venue: 37 KTO-selected MICE facilities that boast of unique charm and regional characteristics

As the Korean public institutions with the largest global networks, KOTRA and the KTO both have their own foreign offices in 32 cities from 22 countries. Building on some occasional events that they had collaborated, such as hands-on activity programs on consumer goods, the two decided to solidify their cooperative efforts by publicly announcing the MOU. In particular, they will expand the area they will make concerted efforts in an organizational level, including △ tourism promotion for Korean cultural assets to participating companies of KOTRA's events, △ co-hosting of Korea's cultural events, △ exchanges of tourism ad contents, such as videos and publications.

"In trade and investment, the presence of soft power that enables us to meet the goal not by sticks and carrots, but persuasion and unique selling points is increasing." said Commissioner Kim Tae Hyung. "We will surely be able to reach a wider scope of foreign investors and trading partners by combining tourism contents created by the KTO with trade and investment promotion activities done by KOTRA."



Source: Invest KOREA (Apr. 27, 2023)