Kotra heading off the beaten path

Korea will step up its efforts to explore untapped overseas markets in order to pave the way for small and medium businesses to break into the countries, a state-run trade agency said yesterday.

The Korea Trade-Investment Promotion Agency (Kotra) said that it will open one new business center each in Mongolia, Mozambique and Belarus in the second half of this year.

Kotra currently has 119 business centers worldwide, which help Korean companies to enter the markets by searching for business opportunities and arranging meetings with local firms.

The agency expected the launch of the centers to call Korea businesses’ attention to the countries.

Mongolia is one of the world’s most resource-rich countries with an average economic growth rate of 8 percent over the past five years. The country is luring foreign investment in order to expand social infrastructure, Kotra added.

Yonhap