Gyeongnam Province and KOTRA Join Forces to Boost Trade, Jobs, and Investment Attraction

On the 24th, Gyeongsangnam-do signed a comprehensive business agreement with the Korea Trade-Investment Promotion Agency (KOTRA) at the provincial government office's meeting room to promote trade, jobs, and attract investment in overseas, tourism, and startup sectors.

According to Gyeongsangnam-do, KOTRA is a public institution under the Ministry of Trade, Industry and Energy established in 1962, operating 12 regional support offices including its headquarters and 129 overseas trade centers in 84 countries worldwide.

It supports trade promotion, domestic and foreign corporate investment, and the attraction of overseas professionals. In 2003, it launched a dedicated organization called ‘INVEST KOREA’ to support the successful entry of foreign companies into the domestic market.

The signing ceremony was attended by Governor Park Wan-su, President Yoo Jeong-yeol, and other officials.

Governor Park Wansu of Gyeongnam Province (right) and Yoo Jung-yeol, President of the Korea Trade-Investment Promotion Agency (KOTRA), are holding a business agreement document.
[Photo by Gyeongnam Provincial Government]

Both parties promised ▲exchange of information related to trade and investment trends ▲cooperation in attracting foreign investment and domestic returning companies ▲support for Gyeongsangnam-do’s small and medium enterprises’ overseas expansion ▲support for domestic and overseas employment and startup opportunities for the province’s youth and job cooperation ▲trade and investment cooperation for digital overseas expansion.

The province and KOTRA agreed to join forces to promote exchange and cooperation projects aimed at attracting foreign-invested companies and domestic returning companies through this agreement.

Accordingly, they plan to strengthen the export capabilities of local companies and enhance the results of overseas investment attraction by expanding joint overseas investment briefing sessions (IR), supporting overseas joint logistics centers, opening a digital comprehensive trade support center (deXter), and holding visiting foreign investment company briefings.

Governor Park said, “Today’s agreement will be a great boost to the province’s top priority of attracting companies and investment,” adding, “We will actively cooperate with KOTRA, which has great capabilities in trade and investment, to attract overseas investment and support our companies’ overseas expansion.”

President Yoo stated, “Gyeongsangnam-do, where the machinery industry?the foundation of manufacturing?is well developed, has shown remarkable export performance by continuously recording trade surpluses despite recent difficult external conditions,” and added, “We will provide more active support so that Gyeongsangnam-do’s companies can smoothly enter overseas markets.”