KOTRA

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This article is about Korean trade promotion organization. For other uses, see Kotra (disambiguation).
KOTRA
Type Rep. of Korea Government
Key people Oh Young Ho (CEO)
Products Trade-Investment Promotion
Website www.kotra.or.kr

KOTRA (Korea Trade Promotion Corporation initially, Korea Trade-Investment Promotion Agency since 1995) is a state-funded trade and investment promotion organization operated by the Government of South Korea.[1] KOTRA was established in 1962 as a national trade promotion organization.[2] Since then, it has facilitated Korea's rapid[citation needed] export-led economic development through various trade promotion activities such as overseas market surveys and business matchmaking.[citation needed]

Activities

In August 1995, cross-border investment promotion and support for technological and industrial cooperation projects were added to KOTRA's mandate, and it was renamed the 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.[citation needed]

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.[citation needed]

KOTRA Seal of Excellence

The KOTRA Seal of Excellence is a seal that KOTRA gives to companies which it deems qualified according to 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.[3]

Overseas Offices

In order to execute its mandates more efficiently, KOTRA has opened an extensive worldwide network of overseas Korea Trade Centers (KTC). As of October 2013, KOTRA maintains 120 offices in 82 countries[1] and nearly 13 offices in Korea[citation needed].

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) [citation needed]

References

  1. ↑ 1.0 1.1 "Kotra is not a tourist agency" Korea JoongAng Daily October 19, 2013. Retrieved on December 2, 2013.
  2. ↑ "(Editorial) Appointing Presidents at State Companies" Hankyoreh" April 12, 2005. Retrieved on December 2, 2013.
  3. ↑ http://kotraseal.kotra.or.kr/excellence/eng/main.jsp

External links

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