Martial Arts, Online Special Lecture on 'COVID-19' Response Strategy Starting from the 10th

Tips on Managing Currency Risk, Reducing Logistics Costs, Untact Marketing, and Responding to Trade Disputes

[Asia Economy Reporter Hwang Yoon-joo] The Korea International Trade Association (KITA) announced that it will hold a series of 'COVID-19 Response Strategy Online Lectures' starting from the 10th to help Korean companies establish export strategies in response to changes in the global trade environment caused by the novel coronavirus disease (COVID-19).

The lecture series will provide tips in five sessions covering different fields: starting with foreign exchange risk management on the 10th, logistics cost reduction on the 14th, untact marketing on the 16th, trade dispute response on the 17th, and export-import contract drafting on the 21st.

Videos and materials for each specialized lecture will be released at 2 p.m. on the day of each session on KITA’s online seminar website (tv.kita.net) and its official YouTube channel.

In the foreign exchange risk management lecture, Lee Seok-jae, a foreign exchange expert and member of KITA’s trade consultation service TradeSOS, said, "Due to COVID-19, global economic instability has increased and demand for the dollar, a representative safe-haven asset, has risen, causing the KRW-USD exchange rate to surge. Export-driven companies need to prepare various profit and loss scenarios to cope with the current situation."

He also advised, "Import-driven companies should continuously monitor the trend of exchange rate changes compared to past rates and adjust payment timing to respond to future circumstances."

Park Cheon-il, head of the Member Support Division, said, "We improved convenience for participants by switching from the previous offline training, which took 3 to 4 hours, to online lectures delivering only the core content within about an hour." He added, "We hope this lecture series will provide practical help for our trade industry to actively respond to changes in the trade environment caused by COVID-19."