ANDONG, SOUTH KOREA - The World Korean Traders Association (World-OKTA) concluded its 2025 World Representatives Convention and Korea Business Expo in Andong with remarkable success, announcing a substantial $84 million in finalized contracts. The event, held at the Andong Convention Center, showcased the robust global network of Korean entrepreneurs and their commitment to fostering international trade and supporting the local community.

Park Jong-beom, the President of World-OKTA, highlighted these achievements during the closing ceremony on April 30th. The convention, which commenced on April 28th, featured the Korea Business Expo (KBE) for two days, acting as a significant platform for business-to-business interactions and deal-making.

The KBE represents an evolution of World-OKTA's traditional export consultation meetings, now expanded to include foreign buyers. This strategic enhancement, initiated at the World Korean Business Convention the previous fall, has significantly amplified the scale and impact of these trade events.

The "Andong KBE," held from April 29th to 30th, witnessed several significant agreements. On the opening day, a landmark $84 million contract was secured in the secondary battery sector, underscoring the growing importance of this industry in global trade. Furthermore, an apple juice export deal worth $200,000 and a contract for Hangang instant noodle cooking devices valued at $80,000 were also finalized.

Including ongoing consultations, the total value of potential contracts reached $140 million, with over 1,900 business consultations taking place during the expo. This impressive figure underscores the dynamism and potential for future collaborations facilitated by the World-OKTA network.

Beyond business engagements, the Andong convention also featured a vibrant array of cultural performances. Attendees were treated to a captivating Hahoe Mask Dance (Hahoe Byeolsingut Talnori) performance on the opening day, offering a glimpse into Korea's rich cultural heritage. The closing ceremony was further enriched by a special performance from the Andong City Choir at the Andong Arts Center.

In a heartfelt demonstration of solidarity and community support, World-OKTA participated in relief efforts for those affected by the recent wildfires in the region. The association raised 150 million KRW (approximately $110,000 USD) through member contributions and presented the funds to the Andong City government. Expressing hope for the swift recovery of the affected areas, World-OKTA also organized a "Hope Tree Planting Event," providing saplings to the city with plans to cultivate an "OKTA Forest" in the future. This initiative highlights the organization's commitment to corporate social responsibility and its connection to the host community.

The World Representatives Convention, alongside the World Korean Business Convention held in the fall, stands as one of World-OKTA's most significant annual events. The Andong gathering saw the participation of approximately 900 World-OKTA members and next-generation leaders, along with over 130 international buyers and representatives from domestic companies and local governments, totaling around 1,000 attendees.

The two-day event in Andong featured a comprehensive program including the World-OKTA Trade Show, the Spring Seminar of the International Trade Strategy Research Institute, the Global Trade Strategy Forum, a Next-Generation Forum, special lectures, executive committee meetings, continental meetings, an expanded executive meeting, a trade committee meeting, and an extraordinary general meeting. These diverse sessions aimed to facilitate networking, knowledge sharing, and strategic discussions on global trade and economic cooperation.

During the closing ceremony, President Park Jong-beom extended his condolences to the citizens of Andong who suffered significant damage from the recent wildfires. He stated, "On behalf of World-OKTA, I would like to once again express my deepest sympathy to the citizens of Andong who have suffered greatly due to the recent devastating wildfires. This gathering was organized to show solidarity between Korean business leaders around the world and the people of Andong." He further emphasized the significance of the event, noting, "This convention was a regional win-win global event that realized World-OKTA's vision of embracing both the domestic and international spheres."

Prior to the closing ceremony, World-OKTA held board of directors and general assembly meetings where a decision was made to change the organization's Korean name from World Korean Trade Association to World Korean Economic and Trade Association. The English name, World-OKTA, will remain unchanged. This name change reflects the organization's broader focus on encompassing the full spectrum of economic activities undertaken by its members.

Looking ahead, the 2025 World Korean Business Convention is scheduled to take place in Songdo, Incheon, from October 27th for four days. This event will provide another crucial platform for the global Korean business community to connect, collaborate, and explore new opportunities in the international marketplace. The success of the Andong Korea Business Expo underscores the vital role World-OKTA plays in facilitating global trade and strengthening the economic ties of the Korean diaspora.

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