State plans to support Korean overseas textile business

30 Jun '05

1 min read

The state announced a project named “Textile Belt”, at the Lotte Hotel in downtown Seoul to support Overseas Koreans Foundation (OKF).

OKF president Lee Kwang-kyu informed that the project that is to support country's textile business communities overseas, will be proposed during the upcoming fourth World Korean Business Convention.

The convention will be held at the Korea International Exhibition Center (KINTEX) in Koyang, Kyonggi Province from 13 to 15 September, 2005.

Lee said that they have planned to help Korean communities in Latin America which is currently facing cut-throat competition with Chinese textile products, major population of Koreans in the region have been associated with textile-related businesses.

The “Textile Belt” targets to create a successful partnership between Korean textile business communities in Latin America and the U.S. and Taegu in Korea.

OKF anticipates joining of nearly 1,500 overseas Korean business people at this year's convention. Participants include well-known figures like Lee Jong-moon, chairman of Ambex Venture Group, Hwang Gyu-bin, chairman of Televideo and executives from local companies.

As per the records of Ministry of Foreign Affairs and Trade, the number of Korean population living aboard, reaches 6.07 million in 173 countries.

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