KOTRA Aims to Boost Non-Metropolitan Exports to $350 Billion by 2030

The Korea Trade-Investment Promotion Agency (KOTRA) plans to increase non-metropolitan exports to $350 billion by 2030. The initiative aims to enhance the overseas expansion of regional companies and actively attract foreign investment in advanced industries, thereby broadening the foundation for a $1 trillion export era.

On September 8, KOTRA held a 'Regional Growth Review Meeting' chaired by President Kang Kyung-sung, discussing strategies to expand regional exports and investments centered on the four major regions and three special sectors. The meeting included executives and staff from headquarters, as well as heads of 12 domestic regional support offices and 10 overseas regional offices, who participated both online and in person.

KOTRA has set a goal to nearly double non-metropolitan export figures from $180 billion in 2025 to $350 billion by 2030. During the same period, the agency plans to increase foreign investment attraction in these regions from $6 billion to $12 billion.

Currently, exports in South Korea are relatively concentrated in the metropolitan area. Last year, only 30.1% of the 102,304 total exporting companies were based outside the capital region, accounting for 26.3% of the total export value of $709.3 billion. KOTRA aims to nurture local companies and new exporters to secure growth potential.

To achieve this, KOTRA will establish a 'Regional Overseas Expansion Highway' linked to the government's four major regions and three special sectors, as well as three mega-projects in semiconductors, physical artificial intelligence (AI), and AI data centers. This approach will directly connect strategic industries in each region with promising overseas industrial clusters. For instance, it will link semiconductor companies in the southwestern region with material, parts, and equipment procurement needs from U.S. and European firms, while supporting southeastern and Daegu-Gyeongbuk region companies in entering manufacturing supply chains in Japan and India.

Support for regional companies lacking export experience will also be expanded. Through the 'Export Hope 1000' initiative, KOTRA aims to assist 1,000 non-metropolitan companies with annual exports below $1 million by 2030. This support will include consulting on export capabilities, identifying and matching with overseas buyers, and providing marketing assistance for up to three years.

KOTRA will also address challenges faced by regional companies in the overseas expansion process, such as talent acquisition, logistics, and certification issues. The agency plans to collaborate with local governments and universities to train AI trade professionals and connect them with regional exporters. Additionally, it will expand logistics networks and support obtaining overseas certifications in partnership with testing and certification organizations.

The functions of 12 regional support offices and 20 AI trade support centers will be strengthened. KOTRA will utilize AI to support the entire export process, from creating export marketing content to recommending promising markets and buyers, facilitating video consultations, and connecting with overseas trade offices. The agency will consolidate previously dispersed overseas marketing budgets to jointly host large-scale exhibitions and consultations by region, while also expanding the business and budget authority of regional support offices.

Kang Kyung-sung, President of KOTRA, stated, "To establish a $1 trillion export era, it is crucial to increase the number of exporting companies, particularly those in the regions. We will enhance support for regional companies' exports and investments to drive regional economic revitalization and qualitative growth in exports."