Invest KOREA

According to Yonhap News,

(SEOUL=Yonhap News) The Korea Trade-Investment Promotion Agency (KOTRA) will generate tangible results from President Park Geun-hye’s four-state visit to the Middle East by establishing a task force team as a follow-up to her trip and holding a meeting with the directors of KOTRA’s overseas offices in relevant regions.

KOTRA CEO Jaehong Kim held a meeting with 23 directors of KOTRA's overseas offices in the Middle East and Africa on March 23 in Istanbul, Turkey, according to KOTRA on March 24.

At the meeting, Kim emphasized creating different strategies to enter the Middle East market, as countries there are promoting industrial diversification to respond to low oil prices and the depletion of crude oil resources. Some of the strategies he suggested include winning orders for small- and medium-sized projects, diversifying equipment and materials exports and preoccupying emerging markets and potential new industries.

With its overseas offices, KOTRA will establish a task force team at its headquarters to ensure that the contracts that were signed during the President’s visit to the Middle East will lead to actual outcomes.

Also, KOTRA plans to hold a Korea-Middle East business week in the second half of the year and invite buyers and high-ranking officials from the Middle East.

KOTRA will designate its overseas offices in the four countries, including Kuwait, as a base for the overseas employment of Korean jobseekers and invite HR staff from Middle East countries to speak about job opportunities in the construction, medical, education and aviation sectors.

KOTRA will also hold a Korea-Middle East industrial diversification cooperation week in October to expand strategic investment in the Middle East by Korean small- and medium-sized companies and an all-in-one week for the Middle East projects in December.

hoonkim@yna.co.kr

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Source Text
Source: Yonhap News (March 23, 2015)