The Korea Chamber of Commerce & Industry

Business Services

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Domestic Activities: Representing the Private Business Community

International Activities: Operating Bilateral Committees

Domestic Activities: Representing the Private Business Community

In order to balance the interests of the private business community with the interests of the government parliament, and other public institutions, the KCCI serves as an intermediary. The Chamber reviews legislative and government policies with the interests of the business community in mind and issues opinions on the timeliness and effectiveness of the policies. If necessary, the Chambers works out policy alternatives and conveys them to the President, government ministries, political parties, parliament, and other relevant authorities. In such cases, the Chamber canvasses the business community to establish an integrated opinion on the policies in question. Through committee and council meetings, polls, and public hearings, the KCCI forges recommendations.

The Chamber also participates in the process of government policy formulation. KCCI officers and experts serve as leading members of various official consultative committees and advisory panels established by the government. These representatives serve as a point of reference for the government when questions of economic issues arise.

Research

Research is an essential part of the Chamber's activities. The organization gathers information to help its member companies keep up with the rapidly changing economic environment. The Chamber studies an extensive range of economic and business topics. It covers general economic issues, such as long-term economic planning, economic policy, finance, banking, and taxation, as well as external matters like international economic trends, balance of payments, exchange rates, tariffs, and import-export issues.

The Chamber also studies affairs concerning industrial development, including industrial structure, small-and-medium businesses, energy, social infrastructure, labor relations, industrial technology, environment, industry trends, business management, industrial rationalization, productivity, quality improvement, and distribution systems. Careful records of wholesale and retail prices are made through regular surveys of major markets throughout the country.

Promoting Fair Business

The free market economy rests on a foundation of fair competition and fair deals. To protect both manufacturers and consumers, the Chamber conducts campaigns against fraudulent business practices. The Anti-Counterfeiting Council established by the Chamber aggressively combats counterfeiting in Korea. Composed of representatives from local chambers, manufacturing organizations, marketing organizations, consumer groups and experts from related circles, the Council encourages voluntary private sector participation in the anti-counterfeiting movement. The Council also takes measures to restrict the manufacturing and distribution of counterfeit goods. It distributes information concerning industrial properties, such as patents and trademarks and holds meetings to devise anti-counterfeiting measures. The Council cooperates with government campaigns against counterfeiting.

Arranging Dialogue

The Chamber organizes seminars, conferences and other meetings to bring businessmen from various sectors together with government officials and specialists working in related fields. These meetings provide a good opportunity for people from different areas to pool their wisdom, tackle common problems, and coordinate their varied interests to improve efficiency. In meetings between businessmen and government officials, businessmen outspokenly discuss difficulties that result from government policies and recommend resolutions. The government, for its part, explains the purposes and background of the policies. Specialists give professional advice on economic issues.

Management Counselling

As the nation's economy expands in size and complexity, business people must continually refurbish their knowledge to keep up in their fields. The counselling services offered by the Chamber on business management are a valuable source of professional help in this area. Experts at the Chamber give advice on the difficulties and problems businessmen experience in international trade, technology development, taxation, accounting, protection of industrial property rights, and so on. Besides the counselling for active businessmen, they also provide support for those who want to start businesses. The Chamber also offers training courses on taxation, management techniques and computer processing. It periodically holds special classes on such topics as newly enacted economic laws as well. In particular, the Industrial Location Center, run by the KCCI, provides valuable information not generally available elsewhere for businesses seeking the best location for their operation.

Vocational Education & Training

Endowed with scant natural resources, Korea has achieved rapid economic growth by successfully mobilizing her human resources. And the importance of the quality of human resources is greater than ever before as the economic focus shifts toward advanced industries. KCCI contributes to creating the kind of human resources that the nation needs in preparing for the future by actively involving itself in vocational education and training. Currently, the Chamber operates six vocational education and training centers in different localities and plans to open two more by March 1997. They provide courses in a range of high-tech areas, including computer-aided design, mechatronics, system control, electrical engineering, microelectronics, information processing, automation and textile design.

Encouraging Office Skill Acquisition

Though some traditional office skills have rendered less useful by computers and office automation, such skills as short-hand, word processing, bookkeeping, etc. are still important for efficient office work. The Chamber is active in promoting the acquisition of such job skills, and hold tests for the award of official qualifications.

International Activities: Operating Bilateral Committees

 The Chamber has established bilateral committees with some 40 countries to stimulate international economic cooperation and bilateral trade. Each committee holds an annual meeting with its foreign counterpart to provide Korean and foreign businessmen an opportunity to discuss trade, investment, technology transfer and other issues. Participants examine bilateral economic relations, identify problems, formulate solutions, and explore cooperative undertakings. The Chamber has also exchanged protocols of cooperation with some 70 countries around the world.

Countries Linked by Bilateral
Economic Cooperation Committees
Argentina Chile Hungary Mexico Romania Turkey
ASEAN China India Mongolia Senegal Venezuela
Austria Colombia Indonesia New Zealand Singapore Vietnam
Bangladesh Czech Iran Nigeria Spain Zaire
Bolivia Egypt Jamaica Pakistan Sri Lanka
Brazil Gabon Kenya Philippines Thailand
Bulgaria Greece Malaysia Poland Tunisia

Support to the Visiting Trade Delegations

The Chamber provides strong support for visiting foreign trade delegations so they can achieve their objectives in Korea. Business contacts with domestic traders and manufacturers are arranged, seminars on investment are organized to induce Korean capital and technology to other countries, and other services that make the visits more efficient and productive are offered.

Participating in International Organizations

In a world where countries are becoming increasingly interdependent, the Chamber recognizes the importance of participating in international economic organizations. The KCCI belongs, on behalf of the Korean business community, to the International Chamber of Commerce (ICC), the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), and other organizations.

The Korean National Committee of the ICC, which the Chamber set up in 1959, represents the Korean business community in the world's largest non-governmental economic organization. With members from Korea's major economic organizations, leading companies and banks, the Korean National Committee conveys the Korean position on ICC policies and recommends topics for discussion.

As an active member of the CACCI, the Chamber seeks to strengthen economic cooperation among countries in the Asia-Pacific region. It works closely with counterparts from other countries to develop opportunities for trade, investment, and other cooperative undertakings.

The KCCI also cooperates closely with other international organizations working to promote the common prosperity of the members of the world community, such as the United Nations Development Programme (UNDP).

Encouraging Foreign Investment and Technology Transfer

Foreign capital and technology have contributed much to the development of the Korean economy. To expand foreign participation in these areas, the Chamber has strengthened its foreign investment and technology transfer promotional activities.

KCCI specialists are always ready to provide professional assistance and guidance to foreign investors who seek to establish joint ventures or technical tie-ups, or who wish to invest directly in Korea.

The Chamber frequently organizes large-scale symposiums specifically focused on technology transfer. These symposiums allow industrialists from developed countries to explore the possibility of introducing advanced technology in Korea on profitable terms. Negotiations conducted during the symposiums often result in the signing of contracts between foreign and Korea counterparts.

Sending Trade Missions Abroad

The KCCI explores new trade opportunities by sending trade missions and market survey teams to a number of foreign countries every year. Especially as interest in overseas investment grows among Koreans, the KCCI often dispatches business delegations to investigate investment climates aborad.

Acting on Business Inquiries

The KCCI receives a large number of business inquiries from foreign traders and works to locate Korean sellers or buyers to handle their business.

The Chamber also publishes the inquiries in the Chamber Weekly for further response from Korean traders. It sends information about Korean industry to those inquiries as well.

Certifying Trade Documents

The Chamber helps to establish trust between trading parties from different parts of the world by certifying trade documents like certificates of origin (C/O).

It also helps members who travel overseas, issuing ATA Carnets for trade samples and exhibits to facilitate customs clearance.

Publications

The Chamber publishes English publications designed to help foreign businessmen, academician and policymakers to get an easy access to potential business partner from Korea, and get a picture of Korea's economic landscape, business environment, etc. Currently, three kinds of English publications are available for purchase or free handout.

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