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Gangwon Prov. to get ready for 2020 GTI

According to Yonhap News, 

Chuncheon Yonhapnews, by Yim Bo-yeon 

Gangwon Province started to be fully gearing up to host the 8th Greater Tumen Initiative (GTI or known as the Tumen River Area Development Program), a provincial flagship event to show intergovernmental cooperation among members of North East Asia.

This year’s fair is scheduled to be held in Wonju Cultural Foundation starting from Oct. 15-18, under the theme of “Peace and Prosperity: the largest cultural and economic exchange program in North East Asia”. There will be more than 150 stands shocasing global foods and exhibition stands inviting 550 businesses.

The GTI will run nearly 700 stand booths in total -150 to be installed inside a food zone and the rest 550 for businesses invited. This year, in particular, the organizing body plans to increase in size, inviting guests not only from existing GTI member countries (Korea, China, Russia and Mongolia), but from Japan, South East Asia, India, the Middle East and even Europe. The larger scale aims to bigger goals to achieve, letting people across the world learn more of the trade event, believed to result in synergetic effect on trade and investment. For a success of the show, provincial authorities formed a task force in charge and have tightened cooperative networks with dozens of private-public entities, such as embassies, the Chamber of Commerce & Industry or Korean Women Entrepreneurs Association etc. Gangwon province will also go through a legislative process to enact the GTI bill.

The trade fair this time is specially open to corporations residing outside the provincial community.

Businesses, headquartered in Korea and wish to take part in GTI 2020 can apply online from Mar.1-5, whereas overseas guests can sign up from April to August. The 7th GTI trade and investment fair 2019 attracted 230,000 guests worldwide, reaching business contract for export valued at KRW 353.8 million (and for sales in Korea worth KRW 28 billion), with on site sales, KRW 1billion.

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Source: Yonhap News (Mar. 1 , 2020)

*This article was translated from Korean.
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