SK trade groups unite ahead of pacts under TPP

"Korea can offer the best venue for meetings and conferences, particularly at COEX, the exhibition centre located near the World Trade Center and officer tower consisting of multinational company offices, luxury hotel, airport terminal, aquarium, duty-free shop and department store," Curtis File, manager for international marketing at the Korea International Trade Association (Kita), said yesterday.

Kita plans to make a greater marketing effort towards event organisers overseas to increase their meetings, exhibitions and conference activities in Korea.

Kita manages COEX, the large-scale business town established in 1988, primarily for domestic and overseas businessmen. The venue is one of the best places for MICE (meeting, incentive, convention and exhibition) events.The exhibition segment is the biggest source of MICE business thanks to huge local industries especially in automobiles, electronics and information technology.

COEX is running up to 70-per-cent occupancy with 25-29 major events annually, but most of them are local. It needs to serve more international events.

Kita has lined up a strategy to attract events to COEX by promoting the centre as a business matchmaker and offering a one-stop service for international events.

Inn-won Park, a professor at Korea University, said Korean companies were expanding their presence in overseas markets, especially in strong segments like automobiles, shipping, rice and IT.

South Korea is also expressing interest in joining the TPP.

It has clinched trade deals with many countries including the United States, Europe and Thailand, but not Japan and Mexico. However, it continues to work on that.

"To work on trade agreements with many countries, Korea is reforming some policies and also improving bargaining tactics," Park said.

It is also working with some key organisations involved in international cooperation such as the Korea International Cooperation Agency (Koica).

Kim Young-ran, director for planning and coordination at Koica, said it was established to work with multinationals globally on trading, economic cooperation, education and cultural exchanges, as well as to help discuss and reduce global issues.

48 offices abroad

Koica has 48 offices abroad including in Thailand. This year, it was granted a budget of US$551 million (Bt19 billion) to run various projects overseas.

Of the budget, 53 per cent goes to Asia, 26 per cent to Africa, 11 per cent to Latin America and the rest to the Middle East and Central Asia.

The agency plans to establish a university of science and technology in Egypt to provide knowledge and research for social development.

For Thailand, the agency is working with some educational institutions including Chulalongkorn University to improve the quality of living, trading, education, cultural exchanges and social problem-solving.

"In Thailand, we are focusing on cultural exchanges and language teaching.

"There are about 50 Korean volunteers in Thailand right now, teaching the Korean language to youngsters and also exchanging knowledge with scholars," she said.