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Annual trade convention for SMEs, overseas business leaders closes

According to Yonhap News,

(JEJU=Yonhap News) JEJU ISLAND, April 8 (Yonhap) -- An annual trade convention for Korean entrepreneurs based overseas and heads of small local firms ended its three-day run on Sunday, producing fresh deals between participants seeking to expand business opportunities, its organizing body said.

The World Federation for Overseas Korean Traders Association (World-OKTA) kicked off its 20th session in Jeju Island on Friday. The event was co-hosted by Yonhap News Agency, South Korea's key newswire service.

The aim of the conference was to boost local exports and nurture business ties between small and medium-sized companies (SMEs) here and Korean businessmen located overseas.

Some 700 members from 74 countries around the world took part in the convention, clinching trade deals worth a total of US$4.3 million with about 50 local SMEs, the organizing body said.

This year, World-OKTA provided one-on-one support to local smaller companies to help them pave the way for market expansion through securing overseas deals. It also held a job fair for people interested in getting jobs abroad.

The participants together made a pledge to bolster mutual partnerships and set up networks to further enhance business exchanges going forward, signing a series of deals aimed at bolstering cooperation in the global market.

On Sunday, the World OKTA and the Korea Federation of SMEs signed a memorandum of understanding to jointly prepare overseas business fairs for smaller companies and share information on local markets.

"The agreement is expected to provide new business opportunities for both members of the Korea Federation of SMEs and Korean entrepreneurs doing businesses overseas," Park Ki-chool, the president of World-OKTA, said.

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Source Text

Source: Yonhap News (Apr. 08, 2018)


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