Overseas Koreans Agency Supports SME Trade Push at Busan Forum

Busan, South Korea — The city of Busan, in partnership with the Overseas Koreans Agency (OKA), is set to host the 2025 World Korean Business Forum and Trade Consultation Meetings from June 9 to 10 at Lotte Hotel Busan. The event aims to support local small and medium-sized enterprises (SMEs) in expanding their export networks by connecting them with overseas Korean entrepreneurs and international buyers.

Jointly organized by Busan Metropolitan City and the OKA, and managed by the Busan Economic Promotion Agency, the initiative reflects a broader effort to leverage diaspora networks to improve global access for Busan-based companies.

Established in June 2023, the Overseas Koreans Agency is a national government body tasked with coordinating policy and engagement for Korea’s diaspora of over 7.5 million people. Among its missions is enhancing economic cooperation between overseas Koreans and domestic businesses, including through global trade facilitation.

The forum will bring together approximately 100 participants, including public officials, diaspora businesspeople, trade advisors, and Korean SME representatives. The day’s sessions will focus on the theme, “Strategies for Activating the Korean Business Network,” with a keynote from Professor Lee Jin-young of Inha University, followed by a panel discussion featuring speakers from research institutes and trade organizations such as the Busan Research Institute and the Korea International Trade Association.

On June 10, the focus will shift to business-to-business meetings. A total of 50 buyer companies from overseas are scheduled to take part in one-on-one consultations with approximately 180 local firms. Among them are 30 companies invited by Busan's overseas trade offices in the United States, China, Japan, and Vietnam, as well as 20 companies recommended by OKA’s OK-BIZ Advisory Group. Participating buyers represent a broad geographic scope, including Oceania, Europe, South America, and Africa.

The consultations will cover a variety of sectors. Industrial goods—such as machinery parts, shipbuilding equipment, and steel—will be a major focus, along with consumer products like cosmetics, food, and daily necessities. Organizers are providing interpretation and logistical support to streamline the sessions.

On June 11, a factory tour program is planned for selected international buyers. The tour will give participants direct exposure to Busan’s manufacturing facilities and innovation clusters, aiming to deepen interest in the city’s industrial strengths.

According to city officials, last year’s edition of the trade consultation meetings facilitated export negotiations worth approximately $57 million. While the results of this year’s event remain to be seen, organizers anticipate strong outcomes given the expanded participation of diaspora-linked business leaders and diverse buyer representation.

This forum is part of Busan’s broader strategy to diversify export markets and strengthen international economic ties. By collaborating with diaspora networks and public institutions like the Overseas Koreans Agency, the city is positioning itself as a more competitive player in global trade.