KOTRA Supports 'Data Collaboration' for Industry-Trade Investment

Business Agreement with Gijinhoe, Seomsanyeon, and KEA

[Asia Economy Reporter Jin-ho Kim] KOTRA announced on the 24th that it signed a business agreement to establish a data cooperation council together with the Korea Electronics and Information Telecommunications Industry Promotion Association, the Korea Machinery Industry Promotion Association, and the Korea Federation of Textile Industries at its headquarters in Yeomgok-dong, Seoul.

According to this agreement, the four organizations will cooperate on ▲data sharing ▲promotion of joint and individual projects ▲building data utilization cooperation models.

The business agreement is significant as the first collaboration between public institutions and cooperative organizations to expand data-based customer support services, a core element of future industries. The four related organizations plan to expand the scope of cooperation by discovering and solving joint tasks that can be addressed through data cooperation in both the short and long term.

The KOTRA trade and investment big data platform ‘TriBIG,’ officially opened on the same day along with a demonstration for customers and member companies, is expected to greatly assist not only in data analysis for the council’s common and individual projects but also in expanding support services such as discovering potential overseas partners for Korean companies.

Yoo Jung-yeol, President of KOTRA, stated, “In the trend of digital transformation, data cooperation among related organizations is an important opportunity to shift export support services from the existing ‘market-responsive’ to ‘market-predictive’ type,” adding, “We will continue to expand data cooperation among various institutions to actively support the overseas expansion of our companies.”

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