KOTRA

Last updated
KOTRA
코트라
Founded1962 (as the Korea Trade Promotion Corporation)
Headquarters13 Heolleungno, Seocho-gu, Seoul, Rep. of Korea
Key people
Yu Jeoung Yeol (CEO since May 2021)
ProductsTrade-Investment Promotion
Owner Government of South Korea
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, SME export promotion, trade info services, government-to-gov't export, foreign investment in Korea (FDI) promotion and business matchmaking.[ citation needed ]

Contents

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 under the Ministry of Trade, Industry and Energy (MOTIE).

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.

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.

KOTRA has an extensive worldwide network of overseas Korea Trade Centers (KTC). As of November 28, 2020, KOTRA has a network of 127 offices in 84 countries worldwide with 10 of the regional headquarters.

KOTRA Seal of Excellence

KOTRA Seal of Excellence KOTRA Seal of Excellence.jpg
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]

Related Research Articles

<span class="mw-page-title-main">Overseas Private Investment Corporation</span> Government agency of the United States of America

The Overseas Private Investment Corporation (OPIC) was the United States Government's Development finance institution until it merged with the Development Credit Authority (DCA) of the United States Agency for International Development (USAID) to form the U.S. International Development Finance Corporation (DFC). OPIC mobilized private capital to help solve critical development challenges and in doing so, advanced the foreign policy of the United States and national security objectives.

Japan External Trade Organization is an Independent Administrative Institution established by Japan Export Trade Research Organization as a nonprofit corporation in Osaka in February 1952, reorganized under the Ministry of International Trade and Industry (MITI) in 1958, and became an Independent Administrative Institution in 2003 to consolidate Japan's efforts in export promotion. The government has provided more than half of JETRO's annual operating budget. As of January 2020, JETRO maintained seventy-four offices in fifty-four countries, as well as forty-eight regional offices in Japan, with a total staff of 1,730. Its main office is located in the Ark Mori Building in Akasaka, Tokyo. Initially, JETRO's activities focused mainly on promoting exports to other countries. As exporters established themselves in world markets and the balance of trade turned from deficit to surplus, however, JETRO's role shifted to encompass more varied activities. These have included the furtherance of mutual understanding with trading partners, strategic investment attraction, import promotion, liaison between small businesses in Japan and their overseas counterparts, and data dissemination. Import promotion services have included publications, promotion of trade fairs, seminars, and trade missions.

The pharmaceutical industry is one of the leading industries in the People's Republic of China, covering synthetic chemicals and drugs, prepared Chinese medicines, medical devices, apparatus and instruments, hygiene materials, packing materials, and pharmaceutical machinery. China has the second-largest pharmaceutical market in the world as of 2017 which is worth US$110 billion. China accounts for 20% of the world's population but only a small fraction of the global drug market. China's changing health-care environment is designed to extend basic health insurance to a larger portion of the population and give individuals greater access to products and services. Following the period of change, the pharmaceutical industry is expected to continue its expansion.

The Australian Trade and Investment Commission, or Austrade, is the Australian Government's trade, investment and education promotion agency which was also given responsibility for tourism policy, programs and research from 2013. Austrade was established under the Australian Trade Commission Act 1985. It is a non-corporate Commonwealth entity under the Public Governance, Performance and Accountability Act 2013, and a statutory agency under the Public Service Act 1999. Austrade is part of the Foreign Affairs and Trade portfolio.

The Taiwan Miracle or Taiwan Economic Miracle refers to Taiwan's rapid economic development to a developed, high-income country during the latter half of the twentieth century.

The Industrial Development & Renovation Organization of Iran (IDRO) known as IDRO Group was established in 1967 in Iran. IDRO Group is one of the largest companies in Iran. It is also one of the largest conglomerates in Asia. IDRO's objective is to develop Iran's industry sector and to accelerate the industrialization process of the country and to export Iranian products worldwide. Today, IDRO owns 117 subsidiaries and affiliated companies both domestically as well as internationally.

<span class="mw-page-title-main">India Brand Equity Foundation</span>

India Brand Equity Foundation (IBEF) is a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India. IBEF's primary objective is to promote and create international awareness of the Made in India label in markets overseas and to facilitate the dissemination of knowledge of Indian products and services. Towards this objective, IBEF works closely with stakeholders across government and industry.

<span class="mw-page-title-main">Foreign direct investment in Iran</span> Investment in Iran

Foreign direct investment in Iran (FDI) has been hindered by unfavorable or complex operating requirements and by international sanctions, although in the early 2000s the Iranian government liberalized investment regulations. Iran ranks 62nd in the World Economic Forum's 2011 analysis of the global competitiveness of 142 countries. In 2010, Iran ranked sixth globally in attracting foreign investments.

<span class="mw-page-title-main">UK Trade & Investment</span> UK government department

UK Trade & Investment (UKTI) was a UK Government department working with businesses based in the United Kingdom to assist their success in international markets, and with overseas investors looking to the UK as an investment destination. It was replaced in July 2016 by the Department for International Trade.

<span class="mw-page-title-main">SARIO</span>

SARIO, Slovak Investment and Trade Development Agency is a government agency established in the Slovak Republic in 2001, which works under the direction of the Ministry of Economy of the Slovak Republic.

The Incheon Free Economic Zone (IFEZ), located in Incheon, South Korea is a Korean Free Economic Zone that consists of the three regions of Songdo, Cheongna, and the island of Yeongjong and has a total area of 51,739 acres (209.38 km2). The goal of the IFEZ is to transform these three areas into hubs for logistics, international business, leisure, and tourism for the Northeast Asian region. Incheon's Free Economic Zone was officially designated by the Korean government in August 2003. IFEZ is planned to be a self-contained living and business district featuring air and sea transportation, a logistics complex, an international business center, financial services, residences, schools and hospitals, and shopping and entertainment centers.

<span class="mw-page-title-main">Export Credit Guarantee Corporation of India</span> Export credit provider in India

ECGC Limited is a government owned export credit agency of India. It is under the ownership of the Ministry of Commerce and Industry, Government of India, and is headquartered in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and banks. Its topmost official is designated as Chairman and Managing Director, who is a central government civil servant under Indian Trade Service (ITS) cadre.

Lingo24 is a UK-registered translation company that was formed in 2001.

<span class="mw-page-title-main">Invest KOREA</span>

Invest KOREA (IK), Korea's national investment promotion agency, was established as part of the Korea Trade-Investment Promotion Agency (KOTRA) to promote foreign direct investment (FDI) to Korea. It provides comprehensive services for all investment stages of Korea, including investment feasibility study, investment execution, and grievance resolution.

<span class="mw-page-title-main">Literature Translation Institute of Korea</span> Organization with the aim of promoting Korean literature and culture overseas

The Literature Translation Institute of Korea was founded in 1996 by the Government of South Korea with the aim of promoting Korean literature and culture overseas.

<span class="mw-page-title-main">Culinary diplomacy</span> Type of cultural diplomacy

Culinary diplomacy, gastrodiplomacy or food diplomacy is a type of cultural diplomacy, which itself is a subset of public diplomacy. Its basic premise is that "the easiest way to win hearts and minds is through the stomach". Official government-sponsored culinary diplomacy programs have been established in Taiwan, South Korea, Singapore, Thailand, Malaysia, Indonesia, Lebanon, Peru, Israel, the United States, Cambodia, Japan, and Nordic countries.

<span class="mw-page-title-main">Aban Pestonjee</span>

Aban Pestonjee is the chairperson and founder of the Abans group of companies. She is known as one of the first entrepreneurs who initiated in first bringing Korean technology to Sri Lankan consumers.

Federation of Indian Export Organisations (FIEO) is the apex trade promotion organisation in India set up by the Ministry of Commerce, Government of India, and the private trade and industry segment in 1965. The organisation is responsible for representing and assisting Indian entrepreneurs and exporters in foreign markets.

<span class="mw-page-title-main">South Korea–Turkey relations</span> Bilateral relations

South Korean–Turkish relations are the foreign relations between South Korea and Turkey. The Turkish embassy is in Seoul, while the South Korean embassy in Ankara and a consulate-general in Istanbul. Both countries are members of the G20.

References

  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. "KOTRA Seal of Excellence". Archived from the original on 2010-03-22. Retrieved 2010-06-04.