The 29th World Korean Business Convention (2025 Korea BCSF Incheon) grandly opened on October 27 at Songdo Convensia in Incheon. The convention is co-hosted by the World Federation of Overseas Korean Traders Associations (OKTA, Chairman Park Jong-bum) and Incheon Metropolitan City (Mayor Yoo Jeong-bok), and is being held with great enthusiasm, attended by over 2,000 Korean business leaders from 154 chapters in 74 countries around the world, as well as domestic businesspeople. The opening ceremony began with the national anthem and a declaration of the opening, followed by welcoming remarks, congratulatory addresses, and a commemorative photo session.
Attendees at the event included World-OKTA Chairman Park Jong-bum, Incheon Mayor Yoo Jeong-bok, Chairman Lee Young-joong, Senior Vice Chairman Choi Bun-do, and other World-OKTA executives, Honorary Chairmen Cho Byung-tae, Suh Jin-hyung, Kim Woo-jae, Chun Yong-soo, Ha Yong-hwa, and others, as well as Go Sang-gu, Chairman of the World Federation of Overseas Korean Associations, Kim Kyung-hyup, Commissioner of the Overseas Koreans Agency, National Assembly members from both ruling and opposition parties including Kim Kyung-hyup, Kim Sung-won, Kim Won-yi, Park Sung-min, Kang Seung-gyu, Jeong Dong-man, and Cho Jung-sik, Lee Dal-gon, Chairman of the Korea Commission for Shared Growth (co-organizer), Kim Jong-hoon, Former Vice Governor for Economic Affairs of Jeollabuk-do, Kang Kyung-sung, President of KOTRA, and about 230 other distinguished guests from various fields. In particular, President Lee Jae-myung sent a congratulatory message, welcoming the overseas Korean businesspeople from all over the world. In the congratulatory message read by Kim Kyung-hyup, Commissioner of the Overseas Koreans Agency, President Lee stated, "I sincerely congratulate the 29th World Korean Business Convention and the 2025 Korea Business Expo Incheon," and "It is very meaningful to welcome overseas Korean business leaders, who are active all over the world, in this significant year marking the 80th anniversary of liberation."
President Lee praised them, saying, "I deeply appreciate the dedication and patriotism of all of you who have always supported the Republic of Korea and worked together for economic development whenever the motherland faced a crisis over the past 80 years," and "The Republic of Korea has achieved remarkable industrialization and democratization, and recently, with the global spread of the Korean Wave, it has taken a leap forward as a cultural powerhouse." President Lee conveyed, "However, the Republic of Korea now stands at a point where it must broaden its economic horizons again. Amid the reorganization of global supply chains, the US-China conflict, and the spread of protectionism, we must prepare for a new leap forward that advances globally, along with the recovery of domestic demand," and "I hope this convention today will be the starting point for that leap." President Lee urged, "Opening opportunities for small and medium-sized enterprises and youth to expand into the global market, and connecting them with a wider and greater world beyond borders, is the most urgent task for us now," and "I have high expectations for the leap and activity of the next-generation business leaders, and I ask you to become the generation that designs the future together, going beyond just remembering the motherland."
In his opening address, Chairman Park Jong-bum said, "Korean businesspeople, who have spread across the world for 123 years since the immigration to Hawaii in 1902, have gathered as one in Incheon today," and "I hope this convention will strengthen the global Korean economic network and become a sustainable growth engine for K-Business." In his welcoming speech, Incheon Mayor Yoo Jeong-bok stated, "Incheon is the gateway to the Republic of Korea and a global hub city where the Overseas Koreans Agency is located," and "We will write a new history of the Republic of Korea's leap forward together with Korean businesspeople from various countries around the world." He further emphasized, "Incheon is a city where Incheon International Airport, one of the world's top three airports, a large port, free economic zones, and international organizations are concentrated, and as an overseas Korean-friendly city, it will develop into a hub that connects the Korean network across the globe." A large number of figures from various sectors, including National Assembly and government officials, businesspeople, and representatives of overseas Korean organizations, attended the opening ceremony. In particular, the participation of young CEOs and startup representatives from around the world added significance as a venue for exchange transcending generations and regions.
The convention will continue for four days until the 30th with diverse programs, including the △Korea Business Expo △1:1 Business Matching Sessions △Startup Competition △Next-Generation Trade School. Participants will also explore ways to cooperate with the local economy through a tour of Songdo International City and an investment briefing on the Incheon Free Economic Zone (IFEZ). The World Federation of Overseas Korean Traders Associations stated, "Through this convention, we will strengthen the solidarity among Korean businesspeople worldwide and establish ourselves as a practical platform to help domestic small and medium-sized enterprises expand overseas."
Prior to the opening ceremony, an 'Agreement Ceremony for Incheon Agri-food Export to Australia' took place, raising expectations for local economic revitalization. According to the agreement, Incheon City and Ganghwa-gun, among others, plan to export 10 tons of Ganghwaseom-ssal (Ganghwa Island Rice) to Melbourne wholesalers and Sydney permanent stores starting from November. This is evaluated as a successful case of local products entering overseas markets by utilizing the global network of Korean businesspeople.
The area around the convention hall was bustling with domestic and international businesspeople exchanging business cards even before the opening ceremony, and active exchange took place with specific business discussions, such as 'How to enter the Japanese market,' happening at tables set up in front of the venue. This event is expected to strengthen the solidarity of Korean businesspeople operating in 74 countries worldwide and to establish itself as a practical platform assisting the overseas expansion of domestic small and medium-sized enterprises. The 29th World Korean Business Convention is anticipated to be a crucial opportunity to further develop Incheon as a global business and overseas Korean hub city.
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