| Type | Rep. of Korea Government |
|---|---|
| Key people | Hong Suk Woo (CEO) |
| Products | Trade-Investment Promotion |
| Website | www.kotra.or.kr |
In Korea, KOTRA (Korea Trade Promotion Corporation initially, Korea Trade-Investment Promotion Agency since 1995) was established in 1962 as a national trade promotion organization. Since then, it has facilitated Korea's rapid export-led economic development through various trade promotion activities such as overseas market surveys and business matchmaking. In August 1995, cross-border investment promotion and support for technological and industrial cooperation projects was added to KOTRA's mandate, and it was renamed to Korea Trade-Investment Promotion Agency.
KOTRA currently operates Invest KOREA, the national investment promotion agency. Originally initiated as the Korea Investment Service Center (KISC) in 1998, the agency was relaunched as Invest KOREA in November 2003 to support foreign investors with an expanded range of services.
KOTRA now pursues its twin mandates of trade and investment promotion to enhance national prosperity and competitiveness, with the goal of positioning Korea as the business and economic hub of East Asia. With its experience and expertise, KOTRA assists interested parties worldwide to do business with Korea.
In order to execute its mandates more efficiently, KOTRA has opened an extensive worldwide network of overseas Korea Trade Centers (KTC). Today, KOTRA maintains more than 111 Korean Business Centers in 74 countries in the world and nearly 13 offices in Korea.
KOTRA’s International Networks in the 1960s Year Trade Centers No. of New Offices 1962 New York, Los Angeles, Hong Kong Bangkok 4 1964 Tokyo, Ho Chi Minh City, Singapore, Jakarta, Tehran, Nairobi 10 1965 Osaka 11 1966 London, Amsterdam, Milan, Geneva, Hamburg, Chicago, San Francisco, New Orleans, Montreal, Panama, Naha, Sydney, Johannesburg 24 1968 Manila 25 1969 Paris, Hamburg Supporting Centre, Santiago, Brazil, Uruguay, Chile, Mexico, Argentina, Caracas, Lima, Tunisia, Kuwait, Nairobi, Vancouver, Dallas 39 Source: KOTRA (1992)
To take advantage of the era of E-Commerce, KOTRA launched the interactive internet portal sites of Invest KOREA Online (formerly Cyber KISC) in 2003 and BuyKorea in 2004.
KOTRA Academy was launched in 2003 as a professional learning center for international business. It is intended that KOTRA's trade and investment manpower will bolster the nation's trade and investment infrastructure.
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The KOTRA Seal of Excellence is a seal that KOTRA gives to companies which it deems qualified by three major criteria. These are Quality, High Technology, and Trustworthiness. As of June 2010, KOTRA has awarded the seal to 430 different companies. The purpose of the seal is to help foreign companies to identify quality products and companies in Korea.[1][2]
Project Advanced Technology and Design Korea. Sponsored by KOTRA, the Presidential Council on Nation Branding, and the Ministry of Knowledge Economy, this project aims itself to be the go to place in order to find information about Korea’s most innovative technology, design and business. Please stop by the blog (www.advancedtechnologykorea.com), Facebook (www.facebook.com/advancedtechKOR) and twitter (@advancedtechkr) to get connected. Already recognized in the industry as a prominent leader of IT, South Korea wants to share with the rest of the world the dynamic and various technology and design that this small but mighty Eastern land has to offer. Our mission is to break past stereotypes and shed the old image that the world may have of Korea and uncover the colorful and future-forward quality of the advancements that are hidden within this nation.