KOTRA announced 10 action plans and 5 strategies that will lead to a breakthrough in export depression for the purpose of achieving over $500 billion in exports next year.
KOTRA explained to the press on the 7th that they are expecting exports to grow from $490 billion to $500 billion, if their plans and strategies are performed successfully.
The 5 strategies are finding hidden energies, hidden buyers, hidden markets, hidden international competitiveness and hidden efficiency. These are illustrated as running for exports, searching for buyers in the global market, going to the farthest reaches of the globe so long as it makes a profit, and finding buyers while spending less.
The word hidden in the 5 strategies implies the efforts to find new markets separated from existing markets. KOTRA is planning to hold a large-scale export event called buyKorea 2009 by inviting 1,000 buyers from global markets. They are also planning to hold a small and mediumscale exhibition and consultation innings over 410 times within the next year as part of the efforts.
KOTRA is focusing on dealing with intensive management for 6,700 prospective buying agents from abroad and consultation between potential companies and 30,000 global buying agents. Especially, they are planning to deal with the export markets by choosing 4 main areas (China, Latin America, Middle East, Africa) and several niche players (Feeble Won Market, the Countries that concluded FTA, UN procurement market).
President of KOTRA Cho Hwan-Eik explained: "Exports bring positive effects such as falling exchange rates, stimulation of domestic consumption and creation of employment, so we are focused on finding the global hidden markets which will be about $10 billion market in exports out of total $500 billion market in exports in 2009."
