The World Federation of Overseas Korean Traders Associations (World-OKTA) is solidifying its position as a key driver of global Korean economic activity. Chairman Park Jong-beom, who assumed the role in , has been appointed honorary chairman of the World Korean Business Convention, scheduled to take place in Atlanta, USA, in .
The appointment, announced on by the Korean American Chamber of Commerce (KACC) Chairman Lee Kyung-cheol, recognizes World-OKTA’s growing influence as the world’s largest Korean economic organization. The official appointment will be formalized by the convention’s organizing committee, led by Lee Sang-deok, head of the Overseas Koreans Agency.
This year’s convention builds on a recent rebranding and expansion strategy. The World Korean Business Convention was renamed in and its first overseas iteration was held in Anaheim, California, USA. The convention took place in Jeonju, Jeollabuk-do, South Korea, last . The Atlanta event, running from to , is being co-hosted with the KACC.
Chairman Park’s leadership has already yielded tangible results. Since taking office, he has overseen the successful expansion and reorganization of the World Korean Business Convention into the ‘KOREA BUSINESS EXPO VIENNA’, a large-scale Korean product exhibition. This demonstrates a proactive approach to fostering international trade and showcasing Korean innovation.
The significance of the World Korean Business Convention extends beyond simply facilitating trade. The Korea Business Expo in Incheon, as reported, highlighted the organization’s role in strengthening the Korea-U.S. Economic alliance, described as the “Korean-Sang Economic Zone.” This represents achieved through collaboration with organizations like the Mail Business, the Overseas Korean Office, the Federation of Korean Chamber of Commerce and Industry in the United States, and the Korea Federation of Small and Medium Businesses.
The convention’s growing prominence is also reflected in the high-profile participation of U.S. Political figures. Kelly Reffler, a former Georgia senator and co-chair of President Donald Trump’s inauguration, emphasized the importance of Korean-U.S. Economic cooperation at the opening ceremony of the Atlanta convention. Reffler’s personal connection to Korean manufacturing – owning a Kia vehicle produced in Georgia – underscores the deepening economic ties between the two nations.
Georgia Governor Brian Kemp, who has visited South Korea twice during his tenure, also highlighted the importance of investment and partnership for future generations. The state of Georgia has attracted significant investment from Korean companies, including Hyundai Motor, Kia, SK Battery America, LG Energy Solution, and Hanwha Q Cells, resulting in the creation of 33,600 jobs over the past decade. Arkansas Commerce Secretary Hugh MacDonald and Hyundai Motor Group President Sung Kim, a former U.S. Official, also participated, further demonstrating the convention’s increasing stature.
Looking ahead, World-OKTA is planning further initiatives. The organization will host the World Representatives Convention and Export Consultation in Andong, Gyeongsangbuk-do, from to . The venue for the convention, scheduled for of next year, will be decided on , the opening day of the Atlanta convention.
The success of World-OKTA and the World Korean Business Convention reflects a broader trend of increasing globalization and the growing economic influence of the Korean diaspora. The organization’s focus on fostering trade, investment, and collaboration positions it as a crucial link between Korea and the global economy. The upcoming events in Andong and the selection of the convention venue will be key indicators of its continued growth and impact.
the South Korean entertainment industry is also gaining global recognition. The television series “Moving,” released in , became the most-watched Korean original series on Disney+ and Hulu within seven days of its release. Production of a second season is already underway, with an anticipated release in . This success demonstrates the cultural and economic power of South Korean content, which complements the efforts of organizations like World-OKTA in promoting Korean interests abroad.
