Economic Five Organizations Hold Luncheon and Consultation Meeting Inviting Overseas Diplomatic Missions to Seek Export Vitality

Purpose of Overcoming Export Crisis and Supporting Corporate Overseas Expansion

The Federation of Korean Industries, the Korea Chamber of Commerce and Industry, the Korea International Trade Association, the Korea Federation of Small and Medium Business, and the Korea Association of Mid-sized Companies?collectively known as the five major economic organizations?jointly hosted an event with the Ministry of Foreign Affairs on the 30th at the Lotte Hotel in Sogong-dong, Seoul. The event invited ambassadors and consuls general attending the '2023 Overseas Diplomatic Mission Chiefs Meeting' to meet with business leaders. This event was planned to help overcome the export crisis and support domestic companies' entry into overseas markets.

The event consisted of a luncheon meeting and one-on-one consultations between overseas diplomatic mission chiefs and businesspeople. About 140 business representatives, including Kim Byung-joon, acting chairman of the Federation of Korean Industries, and other leaders from the five economic organizations, as well as approximately 160 overseas diplomatic mission chiefs, attended the luncheon. In the subsequent one-on-one consultation session, around 270 representatives from about 180 companies expanding overseas participated, discussing over 380 cases of business difficulties related to the countries of expansion with the mission chiefs and seeking solutions.

At the meeting, Kim Byung-joon, acting chairman of the Federation of Korean Industries, said, "When companies face difficulties while doing business overseas, the last place they can trust is the overseas diplomatic mission," adding, "I hope that the overseas diplomatic mission chiefs, who are at the forefront of economic diplomacy, will actively listen to the desperate voices of companies struggling in the global market.”

The Ministry of Foreign Affairs stated, "If our globally competitive companies and the overseas diplomatic missions providing comprehensive support form a one team, it will drive economic growth through increased exports and expanded overseas business entry." They also added, "The government will do its best to protect corporate interests by proactively responding to overseas economic security risks through the overseas diplomatic mission network."

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