Shinnambang Business Alliance Explores Cooperation Measures to Overcome COVID-19

[Asia Economy Reporter Hwang Yoon-joo] The New Southern Business Alliance held its '5th General Meeting' on the 22nd at the Four Seasons Hotel in Gwanghwamun.

The meeting, co-chaired by Kim Young-joo, chairman of the alliance, and Park Bok-young, chairman of the New Southern Policy Special Committee, was attended by representatives from 24 affiliated organizations including KOTRA and the Korea Federation of SMEs, as well as officials from government ministries such as the Ministry of Trade, Industry and Energy, the Ministry of Foreign Affairs, and the Korean Intellectual Property Office. They reviewed the responses to COVID-19 by country, the current difficulties faced by companies operating abroad, and the results of measures taken. They also discussed plans for hosting the New Southern Business Week and strategies to protect New Southern Hallyu brands.

In his opening remarks, Chairman Kim Young-joo said, "As the global economy has contracted due to COVID-19, trade and investment with New Southern countries, which had been actively progressing, have come to a sudden halt. I urge the alliance’s 30 member companies to fully mobilize their networks with New Southern countries and actively seek ways to strengthen cooperation."

Chairman Park Bok-young stated, "We will strive to share our successful quarantine experience and know-how with New Southern countries and build relationships based on coexistence and trust. Various corporate social responsibility (CSR) activities in the New Southern region, where health and medical infrastructure is weak, will greatly contribute to the development of Korea-New Southern cooperation and the enhancement of national image."

At the meeting, the Korea International Trade Association reported plans for the 'New Southern Business Week' scheduled for October this year. An association official said, "This year, we are preparing a variety of programs including export consultation meetings inviting buyers from 11 New Southern countries, consultation meetings for smart city project entry, and operation of a win-win promotional hall. We aim to develop New Southern Business Week into a representative event related to the New Southern region."

Regarding the 21 corporate difficulties related to certification, legal, financial support, and customs logistics issues submitted by the New Southern Business Alliance to the government last year, measures such as the production of a certification system guidebook and the establishment of 18 logistics hubs in New Southern countries including Singapore are being pursued, with most issues currently being resolved. For tasks delayed due to consultations with local governments amid the COVID-19 situation, alternatives such as video conferences will be arranged to resolve them promptly.

Alliance member companies and government officials attending the meeting stated, "We will share the difficulties discussed today with relevant ministries to devise solutions and continuously monitor the issues so that companies can smoothly enter the New Southern region."

This content was produced with the assistance of AI translation services.