Detail

The Korea Trade-Investment Promotion Agency (KOTRA) has played a pivotal role in the growth of Korea’s trade and celebrates its 50th anniversary in 2012. In the 1950s, Korea suffered from the devastation left by the Korean War. Amidst the desolation emerged the importance of exports as the means of rebuilding the nation’s war-torn economy. As a result, the first five-year economic development plan was drawn, with KOTRA being established in June 1962. KOTRA, founded against this background, served as front line commandos in the export competition in the 1960s, and in the 1970s to 1980s, as vanguard pioneers exploring the Eastern European markets. After the Asian financial crisis in the late 1990s, KOTRA expanded its aim to attract foreign direct investment into Korea as well. Growing in export volume from $55 million in 1962 to $10 billion in 1977, Korea achieved what has been dubbed the “Miracle on the Han River.” The country hit another milestone in 2011 by becoming the 9th country in the world to reach $1 trillion in trade volume. Of course, KOTRA has played in integral part in Korea’s trade growth throughout the decades. Currently, KOTRA provides infrastructure and support for the globalization and overseas entry of Korean businesses through 119 branch offices in 81 countries. In hoping that KOTRA continue to overcome the challenges of penetrating larger markets and head toward a brighter future, two commemorative stamps are issued, featuring the “KOTRA 50th anniversary emblem” and the “KOTRA’s headquarters.”