Chairman Gu Ja-yeol Discusses Cooperation with ASEAN and Middle East Delegations and Requests Support for Busan Expo

Martial Arts, ASEAN and Middle East Diplomatic Delegations Invited to Networking Dinner
Discussion on Strengthening Economic Cooperation and Request for Support of Expo 2030 Busan

On the 5th, the Korea International Trade Association (KITA) held the "ASEAN and Middle East Ambassadorial Corps Networking Dinner" at the Shilla Hotel in Jung-gu, Seoul. Koo Ja-yeol, Chairman of KITA, exchanged views with the ambassadorial corps in Korea on ways to strengthen economic cooperation between countries and requested support for the bid to host the 2030 Busan World Expo.

In his dinner speech, Chairman Koo introduced Korea as "a dynamic partner of ASEAN and the Middle East, preparing for the future era with creative ideas and technological capabilities." He added, "Korea is closely communicating with ASEAN countries for regional freedom, peace, and prosperity based on firm support for 'ASEAN centrality,' and is strengthening cooperation with Middle Eastern countries in new industries such as smart cities and renewable energy for a sustainable future for humanity."

He stated, "Going forward, we must promote mutual prosperity and co-development with the Middle East and ASEAN regions and expand mutually beneficial and future-oriented cooperation," emphasizing "In this context, the 2030 Busan World Expo, which shares a future vision while overcoming global crises and challenges together, will greatly contribute to the freedom, peace, and prosperity of world citizens."

A survey conducted last month by KITA targeting the trade industry revealed that Korean companies cited the large domestic market and high growth potential as the main reasons for wanting to enter the ASEAN and Middle East markets. However, they responded that a lack of information about these regions and difficulties related to laws, accounting, and taxation act as obstacles to market entry. Especially in countries with a high proportion of kinship ties, royalty, and state-led industries, companies face challenges in building networks independently, indicating the need for government and private sector-led economic cooperation channels and expanded corporate participation.

KITA regularly holds networking events inviting ambassadorial corps in Korea to provide opportunities for exchange between Korean companies and foreign diplomatic envoys, thereby supporting the establishment of a private commercial diplomacy foundation and expanding economic cooperation. Following four ambassadorial networking events last year, last month it held the "Central Asia, Europe, and Latin America Ambassadorial Corps Networking Dinner," continuing promotional activities for the 2030 Busan World Expo bid and private exchanges.

Meanwhile, the recent "ASEAN and Middle East Ambassadorial Corps Networking Dinner" was attended by over 35 ambassadors and diplomats from 21 ASEAN and Middle Eastern regions. On the Korean side, Chairman Koo and about 20 representatives from KITA’s board and trading companies participated.

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