El Salvadoran CAISA chief vows to tap Cuba, N. Korea

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Thu, October 19, 2017 | 17:58

Light industries

El Salvadoran CAISA chief vows to tap Cuba, N. Korea

Posted : 2017-09-28 13:28

Updated : 2017-09-28 17:47

El Salvadoran CAISA Group Chairman David Ha poses during the 2017 World Korean Community Leaders' Gathering event held at the K-Hotel, Seoul, Wednesday. / Yonhap

By Jhoo Dong-chan

El Salvadoran CAISA Group Chairman David Ha said he aims to enter the Cuban and North Korea markets despite their political uncertainties.

Heading El-Salvador-based CAISA Group with 25 affiliates in Nicaragua, Honduras, Vietnam and the United States, Ha said he discovered his business opportunities from travel.

"You should move around continuously to find business opportunities. Especially, Koreans should become nomads," Ha said.

"If you find and actively invest in a certain business for five years in a country, you will understand local business culture. You will also become a business expert if you spend another five years in the country."

Ha's CAISA Group operates various business operations, including textiles, coffee and packaging, to record annual sales of around 350 billion won ($307 million). Depending heavily on the export of textiles, El Salvador highly values CAISA Group.

Thanks to CAISA Group's successful export of textiles and its economic contribution to El Salvador, Ha recently received the title of "Noble Amigo De El Salvador," the highest award a foreigner can receive from the country. He was the second Korean to receive the honor after former U.N. Security General Ban Ki-moon.

He has also been heading the country's Korean community for six years.

"I often tell Korean youngsters that they should get out and travel and look for opportunities. Nothing will happen if you duck inside your room," Ha said.

His enthusiasm for business he attributes to his background.

Ha moved to Los Angeles with his mother when he was 10. He learned sewing from her and started related businesses after graduating from college.

Ha went El Salvador in 1996 and two years later the country went through a civil war. Despite the unstable political situation, Ha considered it an opportunity, and he has gained enormous business success. CAISA Group is now a big company in El Salvador employing about 6,000 workers.

Ha said he now aims to enter into the Cuban and North Korean markets.

Cuba has already started allowing foreign investments and is letting international companies run businesses in the country. Ha said North Korea is still a "closed-door" country for business, but it has a great deal of potential if it opens the door for foreign businesspeople.

jhoo@ktimes.com