Seoul: South Korea's industry ministry announced plans to dispatch seven trade missions to various regions in the Global South this year to diversify the country's trade destinations. The initiative aims to boost exports by targeting new markets in the Middle East, Southwest Asia, the Association of Southeast Asian Nations, and Africa.
According to Yonhap News Agency, the Ministry of Trade, Industry and Energy will lead these missions. The first delegation is scheduled to visit Dubai this week, where it will participate in the 2025 Korea ICT Roadshow in the Middle East on Thursday. This visit underscores the strategic importance of the Middle East, which has become a key trading partner for South Korea, evidenced by a consistent year-on-year increase in exports to the region for four years running as of 2024.
The ministry highlighted the potential for enhanced collaboration with the United Arab Emirates, especially in technology and supply chains, following the comprehensive economic partnership agreement signed between the two nations last year. Industry Minister Ahn Duk-geun emphasized in a press release that the year 2025 would be pivotal for South Korea to diversify its export and supply chain strategies in the Global South regions.