KOTRA and Association of High Potential Enterprises of Korea sings MOU for cooperation

KOTRA and the Association of High Potential Enterprises of Korea signed an MOU on July 6 at KOTRA headquarters. Under the agreement, the two organizations will promote mutual cooperation on growth projects for SMEs, joint marketing, training support for key human resources of SMEs, and information exchange. KOTRA will work with SMEs to strengthen their global capabilities, go abroad, attract talent, respond to ESG, and return to Korea, as well as strengthen their export capabilities and increase their global business performance. Through its 12 regional support centers and 129 overseas trade offices in 84 countries, KOTRA promotes export expansion, overseas expansion, and return of Korean companies, foreign direct investment in Korea, and youth employment abroad. As the only statutory economic organization representing small and medium-sized enterprises, the Association supports the improvement of the business environment, discovery of new growth engines, promotion, international cooperation, recruitment and development of talents, sustainable growth of small and medium-sized enterprises, and leapfrogging into global enterprises. KOTA CEO Jungywol Yoo said "SMEs are a highly export-creative group of companies, and we need to help those that are doing well to do even better. We will actively support SMEs to further contribute to the country's exports."

KOTRA opens FTA Support Center in Kuala Lumpur

The Ministry of Trade, Industry and Energy and KOTRA opened the 'FTA Support Center' in Kuala Lumpur, Malaysia on July 5 to support Korean companies' access to the ASEAN-Korea FTA and RCEP. Malaysia is Korea's third largest trading partner among ASEAN countries after Vietnam and Singapore. The Center will conduct consultations and briefings on the ASEAN-Korea FTA and RCEP, and provide close local support for difficulties encountered during customs clearance. The seminar introduced the current status of bilateral economic cooperation, customs laws, RCEP and FTA practices, promising FTA products, and Malaysian labor laws. KOTRA operates 16 FTA overseas centers in 11 countries. Jihyung Lee, Head of KOTRA International Trade Cooperation Division said “"Over the past three years, bilateral trade has steadily increased, reaching a record high last year. The resumption of bilateral FTA negotiations and the establishment of the FTA Support Center in Kuala Lumpur are expected to further increase bilateral economic exchanges. We will spare no effort to help Korean companies take advantage of the FTA."