The 21st World Korean Business Convention (WKBC), the first to be held outside of South Korea, commenced on October 11, drawing significant interest from Korean businessmen worldwide.
Hosted by the Overseas Koreans Agency, the Korean American Chamber of Commerce USA, and the Overseas Koreans Cooperation Center, the event is taking place at the Anaheim Convention Center from October 11 to 14. It boasts over 6,000 participants from 535 companies, including major corporations like Samsung Electronics, Hyundai Motor, POSCO, and E-Mart, as well as small and medium-sized enterprises, overseas Korean businesses, Korean Americans residing in the United States, and mainstream companies.
In comparison to its inaugural edition in 2002, which had 968 participants from 28 countries, the number of participating countries has doubled, and the number of participating companies has grown sixfold.
On the first and second floors of the convention center’s North Hall, participating companies from various South Korean provincial regions, along with companies affiliated with the Korean Federation of Small and Medium-sized Enterprises and the U.S. Small Business Administration (SBA), have set up more than 650 booths to promote their products and provide business consultations.
During the morning’s business exhibition opening ceremony at the convention center’s central plaza, calligrapher Lee Mu-ho performed a large-scale calligraphy performance titled “Economic Growth Korean Business Prosperity,” wishing for a successful event.
Following the ceremony, prominent figures such as Lee Key-cheol, head of the Overseas Koreans Agency, WKBC Organizing Committee President Byung Gu Hwang, WKBC President Kee Whan Ha, WKBC Honorary President Ki-mun Kim, WKBC Venue President Sean Roh, North Gyeongsang Governor Lee Cheol-woo, South Gyeongsang Governor Park Wan-su, North Jeolla Governor Kim Kwan-young, Jeju Governor Oh Young-hun, and Incheon Mayor Yoo Jeong-bok attended the ribbon-cutting ceremony.
“Since the establishment of the Overseas Koreans Agency, WKBC has emerged as a center of excellence for SMEs to expand overseas and connect with their compatriots. We expect WKBC to serve as a global business hub and create substantial results rather than formality,” said Lee. “As the first overseas event outside of Korea, there are many variables, but this event will be a touchstone for determining future complementary points and directions.”
“Through the WKBC, we aim to introduce excellent Korean products to the U.S. market. Even if there are no direct results, it will be meaningful to have hope for the possibility of entering the U.S. market,” said Hwang. “The original budget of $4.9 million was increased to $6 million as the size of the convention grew, but we were able to have a successful opening thanks to the support of meaningful Korean businessmen.”
Notably, KISS Group, a company specializing in beauty products in the eastern region, sponsored $500,000 and invested $400,000 in setting up a booth.
“I think it means a lot that the 21st edition was held in the United States, and in Orange County. It will be the largest ever, aiming to connect participating companies and buyers, and we look forward to becoming a networking venue and a mecca for Korean American business. I would like to thank the organizers for their hard work in preparation,” said Ha.
The pavilion will be open daily from 10 a.m. to 6 p.m. through October 13 and will feature booths from various South Korean regions and local Korean American businesses, as well as U.S. government agencies. The Korea Federation of Small and Medium-sized Enterprises has organized a K-Biz Pavilion, with over 50 companies in sectors including beauty, household goods, and food participating in promotional and buyer consultations. North Gyeongsang Province attracted attention by presenting a metaverse promotion and experience center on a large screen.
The WKBC’s opening ceremony, attended by over 1,500 people at the Arena, featured a musical performance by Dosan Ahn Chang-ho in commemoration of the 120th anniversary of Korean immigration to the United States. Additionally, a Taekwondo demonstration team from the Kukkiwon Taekwondo Center and K-pop performances added to the festivities.
Starting at 7 p.m. on October 12, the Arena will host a three-hour WKBC K-Music Festival featuring boy group T-EN and solo artists Luna, Danny Jung, Hi Bada, and For the Street.
WKBC Venue President Roh stated, “The number of online viewing registrations has exceeded 10,000 and is receiving great response. There will be one-on-one consultations, investment forums, and more than 1,000 business consultations with over 400 participants from the U.S.”
For additional information, including the event schedule, please visit WKBC.us.
BY NAKI PARK [park.naki@koreadaily.com]
