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| Korea International Trade Association (KITA) Chairman Kim Young-ju delivers an opening speech at "2019 Korea-ASEAN & India Business Week" held at COEX in Seoul, Tuesday. / Courtesy of KITA |
By Kwak Yeon-soo
Korea International Trade Association (KITA), in cooperation with the Presidential Committee on New Southern Policy, successfully held the "2019 Korea-ASEAN & India Business Week" at COEX in Seoul on June 24 and 25.
The forum took place in a bid to help entrepreneurs and businesspeople to find better opportunities in the emerging ASEAN market, according to KITA
Under the theme "Digital Economy, One Asia," the forum consisted of dialogues, seminars and one-on-one business meetings.
About 800 government officials, executives from global companies, industry experts and businesspeople attended the event to strengthen cooperation and provide support for Korean small- to mid-sized companies to expand their export channels.
"ASEAN's digital economy is very progressive. The business week will serve as an opportunity for Korean firms to venture into the digital era and seek new growth engines," said Kim Young-ju, chairman of KITA.
Backed by an increasingly tech-savvy young population, ASEAN is set to become the world's fourth-largest economic bloc by 2030, according to the Economic Research Institute for ASEAN and East Asia.
Global e-commerce companies such as Lazada, Shopee, Thailand's largest shared workspace startup Hubba, and venture capitalists such as Invest India and Kejora Ventures participated in the event.
They discussed the state of the ASEAN e-commerce market, the startup ecosystem, success stories of tech startups and the future outlook of smart mobility.
About 50 large retailers from ASEAN countries were also invited to take part in one-on-one business meetings.
"With the development of e-commerce and social media, cross-border transactions have become a reality," said Park Dong-hyun, an economist at Asian Development Bank, who participated as a moderator at the event's e-commerce session.
"Global players, like Lazada, Shopee and Expedia, will accelerate growth of an integrated information space."
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