News & Notice

News & Notice
Subject KITA signs MOU with China’s E-commerce giant Alibaba.com Date 2009-07-01 10:17:27
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KITA signs MOU with China’s E-commerce giant Alibaba.com

 

 The Korea International Trade Association (KITA) took a step towards supporting trade marketing needs for small-and-medium enterprises (SMEs) through active collaboration with Alibaba.com, China’s biggest e-commerce company, having over 30 million members from 240 countries, all around the world.

 

Hee-Beom Lee, the chairman & CEO of KITA, signed a memorandum of understanding with David Wei, the chief executive officer and executive director of Alibaba.com, on August 2, 2008 during Asia-Pacific Economic Cooperation (APEC) business summit held in Hangzhou, China.

 

KITA launched the new site, tradekorea.com, in April 2008 to aid online trade for Korea’s SMEs, and plans to strengthen the international online marketing in cooperation with Alibaba.com.

At the signing up event, Mr. Lee said ” The support of the online marketing using the new website means that Korea’s SMEs would be able to find a new big market for marketing and overseas expansion. We greatly expect that these opportunities will promote the globalization of Korean corporations and the enlargement of the world’s e-commerce market.

Commenting on Aliababa’s role in the cooperation, Mr. Wei stated, “Alibaba.com will do its best to open new ways of growth and global promotion opportunities for Korea’s small-and-medium manufacturers and corporations.”

Meanwhile, Mr. Hee-Beom Lee, before signing the MOU, attended the APEC Business Advisory Council (ABAC) SME summit on “SME, Impact on Society and Our Life Style.” At the summit, he said, “It is urgent to reinforce international competitiveness of SMEs and to find new possibility of growth with priorities given to the globalization of IT technologies: the revitalization of online business transactions, the development of e-business model for SMEs and so forth,” and he also stressed that “Korean Government is helping SMEs, which have insufficient funds to invest on IT to build an online global business networks through u-TradeHub, electronic trading portal, and tradeKorea e-market place. The APEC needs to take care of these efforts to reinvigorate the global e-transactions,” he added.

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