Shown above is the English-language website of the Korea Chamber of Commerce and Industry (KCCI). The organization tries to offer the latest information and news so that foreign visitors can remain informed about Korea and the country’s economy. Photo courtesy of KCCI

KCCI strives to offer detailed info on Korean biz in English

The Korea Chamber of Commerce and Industry (KCCI) started streamlining its English-language website early this year. Thereafter, the number of its daily visitors jumped almost 10 times.

The KCCI said on Oct. 30 that a mounting number of people visit its English-language web site.

“Beginning this April, we increased the number of new contents in the English-language website while updating the existing contents,” a KCCI official said.

“Such efforts appear to be attracting a rising number of visitors. We will do our best to become an informational gateway for foreigners who are interested in any businesses in Korea.”

Indeed, the KCCI site provides detailed information about the country’s economic data and policies. The latest news about the economy and new events are also included.

For example, the site enables people to check new policies or data announced by such government organizations as the Financial Services Commission and Statistics Korea.

It also contains various reports on the Korean economy published by international players, including World Bank, International Monetary Fund, and the Organization for Economic Cooperation and Development.

Also available are share prices of benchmark indexes on the Korean bourses, interest rates, government bond prices, foreign exchange rates, and crude oil prices.

“The KCCI is the oldest and largest business organization in Korea,” KCCI Chairman Park Yong-maan said. “The KCCI is committed to expanding mutual trade and investment opportunities.”

In addition, Visitors can check the annual events hosted by the KCCI at a glance. They are CEO Summer Forum, Innovative Technology Show, and Corporate Innovation Award, to name but a few.

Brief history of KCCI

The KCCI was founded back in 1884 to represent corporations of all sizes, sectors, and nationalities in Asia’s fourth-largest economy. Currently, about 18,000 corporations are under its wing across the country.

As the member organization of the International Chamber of Commerce and the World Chambers Federation, the KCCI has acted as a channel of communication between companies and the administration.

Offering various business management services, the entity has also proactively promoted trade by engaging in private-sector economic diplomacy with foreign government and corporations.

More specifically, the outfit comes up with economic outlook and business information publications while providing business consulting services and vocational training courses.

In particular, the KCCI established the Regulatory Sandbox Support Center this year as the only legitimate private organization to deal with regulatory sandbox applications.

The system, which debuted last year, allows for the relaxation of regulations to accommodate innovative products and services. Korea is the first place in the globe to introduce such a system operated by a private outfit.

The number of regional chambers of commerce tops 70 in Korea.

Besides, the KCCI operates overseas offices in foreign countries like China’s Beijing and Vietnam’s Hanoi.