By Cho Jae-hyon
Staff Reporter
Steven Koh, 65, chairman of a group of ethnic Korean business leaders around the world, says what the association needs most is greater interest and encouragement from the Korean people for their efforts to contribute to the nation's economy.
``We are the first generation of immigrants. We were busy worrying about what to eat in the early years. Afterwards, we have been seeking to do some worthwhile things for our country,'' Koh said in an interview with The Korea Times. ``That's why we set up the association back in 1981.''
Koh is one of founding members of the World Federation of Overseas Korean Traders Association (World-OKTA). Dozens of businessmen who were working in the United States and other countries gathered in Seoul in 1981 to set up the association, with the initial goal of buying more Korean goods.
``It's based on pure love for our homeland. Once you leave your country, you become patriots. Even though we are living in a borderless global village, blood is certainly thicker than water,'' Koh said.
Koh said the federation originally planned to hold its annual conference in a foreign country but changed the venue to Seoul in a bid to be helpful to the country's economy. About 750 people from 60 nations took part in its 14th conference and trade fair that ran from Wednesday to Friday.
``It was the largest ever gathering. On top of a great deal of trade deals struck, many government officials took part in the conference. Overall it's been quite a success,'' Koh said.
During the trade fair held Thursday and on the sidelines of the conference, federation members and 230 small and midsize firms negotiated about 156 trade deals worth a total of $100.5 million.
He said participating members of the federation spent money to hold the conference in Seoul. ``We will continue to make efforts to boost Korea's exports. All we want in return from Korea is applause.''
Regarding plans for the future of the association, the chairman said his top priority is to expand programs around the world to educate prospective traders of the next generation about Korean culture and businesses so they can take the baton when it is passed to them.
``We have provided education programs for about eight years. It's to nurture the future traders who will replace us when we retire,'' he said. ``When they grow older and reach their 40s, they will become federation members.''
The World-OKTA has run two-week training courses in 25 local and overseas cities. More than 7,500 trainees have finished the programs.
``I think this is very important project. I'm aiming to raise the number of these young trade cadets to 100,000. They will make a great contribution to the development of the Korean economy in the future,'' he said.
Koh asked the Korean government to make the best of the federation. ``We have built a strong worldwide network. I hope the government and small- and mid-size companies use the network as much as possible.''
A graduate of Yonsei University, Koh worked for a steel company for three years before leaving for the United States in 1971. In the U.S., he founded Pacific Steel Corp. and Koss International Corp. He took over management control of Wilshire State Bank in 1986 and is now its board chairman.
Taking billionaire investor Warrant Buffett as his role model, he has set up a foundation and actively engaged himself in charity activities.
Koh said the U.S. economy seems to be at ``the end of a dark tunnel'' but ruled out any chance of a quick recovery.
``I think it will be the same with the Korean economy. The latest financial crisis taught us again that we should go back to basics instead of pursuing short-term, easy money,'' he said.