SEOUL, February 23 (AJP) - World-OKTA (World Federation of Overseas Korean Traders Associations) plays a pivotal role in connecting South Korean entrepreneurs worldwide and supporting the global expansion of small and medium-sized enterprises (SMEs). Established in 1981 by South Korean entrepreneurs working abroad to promote exports and economic growth, the organization now operates in 151 cities across 71 countries.
With approximately 7,000 full members and 32,000 associate members, World-OKTA serves as a vital network for overseas Korean entrepreneurs. Park Jong-bum, the chairman of World-OKTA, explained during an interview with AJP on February 21, "Our core mission is to strengthen networking among overseas Korean entrepreneurs, helping Korean SMEs explore global markets and boost exports."
World-OKTA is more than just an economic network; it is dedicated to nurturing the next generation of Korean entrepreneurs. Park noted, "As the first generation of Korean entrepreneurs overseas, we faced challenges in adapting to local societies. It is crucial to support the second generation and future leaders so they can participate more seamlessly in economic activities and social advancement."
To achieve this, World-OKTA offers educational programs tailored to the next generation of South Korean traders, laying the foundation for them to become global business leaders.
A flagship initiative by World-OKTA is the "Korea Business Expo," an essential platform that facilitates international market entry for South Korean SMEs. Held every April and October, the expo brings together SMEs and overseas Korean entrepreneurs for business consultations and networking opportunities.
This year, the "2025 Korea Business Expo" will take place in Andong in April and Incheon in October. Park explained, "Through the events in Andong and Incheon, we aim to enhance the competitiveness of Korean SMEs in global markets and maximize export outcomes through effective business consultations with international buyers."
The Andong expo in April will feature 250 booths, including 100 companies from North Gyeongsang Province and Andong, along with 150 World-OKTA member companies. "About 250 South Korean SMEs will participate, with around 200 international buyers and over 1,000 businesspeople attending for business consultations," Park said.
He added, "We are also planning cultural programs to provide attendees with an opportunity to experience Andong’s traditional culture, creating a unique event that blends economic and cultural elements."
In October, the expo will move to Songdo, Incheon, branded as the "2025 Korea Business Expo Incheon." It will offer a wide range of programs and business-matching opportunities for Korean SMEs looking to expand globally.
Reflecting on the success of the 2024 Korea Business Expo in Vienna, which generated MOUs worth approximately USD 178 million, Park expressed high expectations, stating, "We anticipate even greater achievements at the upcoming Incheon event."
Park concluded, "World-OKTA is a reliable business partner for Korean SMEs looking to expand abroad. We will continue to strengthen the network of overseas Korean entrepreneurs and actively support Korean SMEs in becoming competitive players on the global stage."
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