By Diplomacy Journal Lee Kap-soo

Minister of Foreign Affairs Cho Tae-yul held a meeting with Koo Cha-yol, Chairman of the Korea International Trade Association (KITA) on February 13, to discuss ways to enhance the responsiveness and vitality of Korean businesses in the face of a rapidly changing and uncertain global landscape. This is the fifth engagement with business associations since Minister Cho took office.

Minister Cho participated in the New year event hosted by the innovative venture industry (January 19) and met with leaders of the Federation of Korean Industries (FKI, January 22), Korea Chamber of Commerce and Industry (KCCI, January 24), and Korea Enterprises Federation (KEF, January 30).

Foreign Minister Cho said the Foreign Ministry will continue to reach out to business associations and companies, and will actively utilize its network of 167 overseas diplomatic missions to resolve difficulties faced by Korean companies expanding overseas and make further efforts to support market access and exports. 

In response, Chairman Koo expressed his appreciation for the Ministry’s active economic diplomacy and business assistance activities, and reaffirmed willingness to cooperate as a public-private “one-team.”

The Ministry and KITA plan to strengthen their institutional cooperation, including through exchanges between the Ministry’s Center for Economic Security and Foreign Affairs (CESFA) and the KITA Institute for International Trade. 

The two sides also agreed to work together towards increased exports and overseas projects for the Korean businesses, as well as their larger presence abroad.