“The role of the private sector is crucial in Korea-China economic cooperation. It is essential for companies from both countries to meet directly, share market and technology insights, and continuously seek new business opportunities. I believe the global network of Korean entrepreneurs established by the World Korean Economic Trade Association (World OKTA) over the past 45 years can serve as a bridge in this process.”
Founded in 1981 by a small group of Korean traders, the World Korean Economic Trade Association has grown into the largest private economic diplomacy platform in South Korea, with branches in 157 cities across 76 countries, nurturing 7,000 regular members and 30,000 young talents.
Park Jong-beom, the president of the association, emphasized the importance of Korea-China economic cooperation and expressed his expectations for the 30th World Korean Economic Conference and the '2026 Korea Business Expo Shenzhen,' which will be held from October 8 to 11 at the Shenzhen Convention and Exhibition Center.
This year’s conference, co-hosted with the Shenzhen Commercial Association to mark the 45th anniversary, is a business expo that combines Korean consumer goods with the industrial base of Shenzhen, which has seen growth in advanced manufacturing, information technology (IT), startups, and global distribution. The Shenzhen Commercial Association includes major Chinese companies such as Tencent, Huawei, BYD, TCL, Ping An, and Wanke as members.
Park stated, “Shenzhen, where advanced industries and consumer trends coexist, will serve as an optimal platform for our SMEs to pioneer new markets by leveraging both technology and culture.” Below is a Q&A with Park.
- I understand that World OKTA holds expos twice a year.
“The most important aspect of a company’s overseas expansion is connecting with the local market. Even companies with excellent technology and products find it difficult to export if they cannot meet local buyers, distributors, and investors. That’s why the World Korean Economic Trade Association holds expos every April and October to support domestic SMEs in exploring overseas markets.”
- What achievements have been made through the expos?
“At the event held in Vienna, Austria, in October 2024, the domestic SME GNT signed an export contract worth approximately 460 billion won with the German PRETTL Group for electric vehicle converters. Last April in Andong, PNT secured a contract worth about 120 billion won for secondary battery equipment with China’s DR GLOBAL. In October last year, at the event in Incheon, Skin Lovers finalized a contract worth around 1.4 billion won for cosmetics with a company in the United Arab Emirates. In March of this year, participating companies signed memorandums of understanding (MOUs) worth about 240 billion won.”
- Why was Shenzhen chosen as the venue?
“Shenzhen is one of the most innovative spaces in global modern economic history. What was once a small fishing village over 40 years ago has transformed into 'China's Silicon Valley,' attracting big tech, advanced manufacturing, and startups through its role as a 'window of reform and opening up.'”
- What are your main concerns for this expo?
“The core of this event is not just a simple exhibition. We are focused on creating actual contracts and transactions by connecting Shenzhen’s advanced industrial ecosystem with Korea’s competitive consumer goods. About 750 exhibiting companies and over 6,000 participants are expected, including 1,500 World OKTA members and 500 local buyers.”
- What will be showcased at the expo?
“The event will feature export consultation meetings, a global advanced industry forum, and a Korea-China economic forum. Themed pavilions will be set up for consumer goods in beauty, food, and fashion, with a focus on mobility and artificial intelligence (AI) companies. We also plan to introduce a hybrid model of business-to-business (B2B) and business-to-consumer (B2C) transactions through live commerce and product experience zones utilizing local influencers.”
- Are there programs for local businesses?
“We will operate a 'Local to Local (L2L) Business Lounge' to assist local companies in expanding overseas. We will select local businesses with high potential for international expansion and connect them with local buyers, distribution networks, and investors, supporting them from market validation to distribution entry and contract negotiations. Our goal is to ensure that domestic companies do not just consult at the expo but can actually follow up with transactions.”
- What is the goal of the expo in Shenzhen?
“Through this conference, we hope to broaden the scope of cooperation between domestic SMEs and local Chinese companies. We plan to collaborate with government ministries, public institutions, and local governments to support the overseas expansion of regional businesses. Our aim is to establish a sustainable business platform that leads to consultations, contracts, distribution, and investment, rather than just a one-time exhibition.”
- What are your future plans?
“I hope that the 30th World Korean Economic Conference, held on our 45th anniversary, will serve as a starting point for new Korea-China economic cooperation. We will connect the networks of Korean entrepreneurs active around the world with growth opportunities for domestic companies, creating a practical pathway for our businesses to enter broader global markets.”
Founded in 1981 by a small group of Korean traders, the World Korean Economic Trade Association has grown into the largest private economic diplomacy platform in South Korea, with branches in 157 cities across 76 countries, nurturing 7,000 regular members and 30,000 young talents.
Park Jong-beom, the president of the association, emphasized the importance of Korea-China economic cooperation and expressed his expectations for the 30th World Korean Economic Conference and the '2026 Korea Business Expo Shenzhen,' which will be held from October 8 to 11 at the Shenzhen Convention and Exhibition Center.
This year’s conference, co-hosted with the Shenzhen Commercial Association to mark the 45th anniversary, is a business expo that combines Korean consumer goods with the industrial base of Shenzhen, which has seen growth in advanced manufacturing, information technology (IT), startups, and global distribution. The Shenzhen Commercial Association includes major Chinese companies such as Tencent, Huawei, BYD, TCL, Ping An, and Wanke as members.
Park stated, “Shenzhen, where advanced industries and consumer trends coexist, will serve as an optimal platform for our SMEs to pioneer new markets by leveraging both technology and culture.” Below is a Q&A with Park.
- I understand that World OKTA holds expos twice a year.
“The most important aspect of a company’s overseas expansion is connecting with the local market. Even companies with excellent technology and products find it difficult to export if they cannot meet local buyers, distributors, and investors. That’s why the World Korean Economic Trade Association holds expos every April and October to support domestic SMEs in exploring overseas markets.”
- What achievements have been made through the expos?
“At the event held in Vienna, Austria, in October 2024, the domestic SME GNT signed an export contract worth approximately 460 billion won with the German PRETTL Group for electric vehicle converters. Last April in Andong, PNT secured a contract worth about 120 billion won for secondary battery equipment with China’s DR GLOBAL. In October last year, at the event in Incheon, Skin Lovers finalized a contract worth around 1.4 billion won for cosmetics with a company in the United Arab Emirates. In March of this year, participating companies signed memorandums of understanding (MOUs) worth about 240 billion won.”
- Why was Shenzhen chosen as the venue?
“Shenzhen is one of the most innovative spaces in global modern economic history. What was once a small fishing village over 40 years ago has transformed into 'China's Silicon Valley,' attracting big tech, advanced manufacturing, and startups through its role as a 'window of reform and opening up.'”
- What are your main concerns for this expo?
“The core of this event is not just a simple exhibition. We are focused on creating actual contracts and transactions by connecting Shenzhen’s advanced industrial ecosystem with Korea’s competitive consumer goods. About 750 exhibiting companies and over 6,000 participants are expected, including 1,500 World OKTA members and 500 local buyers.”
- What will be showcased at the expo?
“The event will feature export consultation meetings, a global advanced industry forum, and a Korea-China economic forum. Themed pavilions will be set up for consumer goods in beauty, food, and fashion, with a focus on mobility and artificial intelligence (AI) companies. We also plan to introduce a hybrid model of business-to-business (B2B) and business-to-consumer (B2C) transactions through live commerce and product experience zones utilizing local influencers.”
- Are there programs for local businesses?
“We will operate a 'Local to Local (L2L) Business Lounge' to assist local companies in expanding overseas. We will select local businesses with high potential for international expansion and connect them with local buyers, distribution networks, and investors, supporting them from market validation to distribution entry and contract negotiations. Our goal is to ensure that domestic companies do not just consult at the expo but can actually follow up with transactions.”
- What is the goal of the expo in Shenzhen?
“Through this conference, we hope to broaden the scope of cooperation between domestic SMEs and local Chinese companies. We plan to collaborate with government ministries, public institutions, and local governments to support the overseas expansion of regional businesses. Our aim is to establish a sustainable business platform that leads to consultations, contracts, distribution, and investment, rather than just a one-time exhibition.”
- What are your future plans?
“I hope that the 30th World Korean Economic Conference, held on our 45th anniversary, will serve as a starting point for new Korea-China economic cooperation. We will connect the networks of Korean entrepreneurs active around the world with growth opportunities for domestic companies, creating a practical pathway for our businesses to enter broader global markets.”
* This article has been translated by AI.
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