On the 13th, the Korea International Trade Association (KITA), led by Chairman Yoon Jin-sik, entered into a Memorandum of Understanding (MOU) with the Korea Artificial Intelligence and Software Industry Association (KOSA), headed by Chairman Cho Jun-hee, at the Trade Tower in Samseong-dong, Gangnam, Seoul. This agreement is pivotal as it seeks to facilitate AI transformation (AX) in the trade sector amid rapidly changing external environments, including protectionism and geopolitical risks.

Recent findings from KITA’s survey on AI utilization among export companies highlight a significant gap; despite a widespread recognition of the need for AI integration, only 17.9% of manufacturers are currently leveraging AI technology. This stark contrast indicates a substantial opportunity for KITA and KOSA to bolster the competitive landscape of Korean exports through this strategic partnership.

The MOU outlines several initiatives aimed at promoting AX within the trade industry, specifically targeting business matching among member companies, the formation of a collaborative consultative body, talent development in AI, and the identification and dissemination of best practices. These initiatives not only signal a commitment to enhancing operational efficiencies but also a broader strategy to elevate the overall competency of the trade sector in utilizing advanced technologies.

A highlight of the collaboration will be the implementation of a 'Business Networking Day,' designed to connect export and AI software enterprises. By facilitating business matching, this platform will serve as a private sector collaboration framework crucial for driving the AI transformation necessary for competitive survival in global markets.

Additionally, KITA and KOSA plan to organize seminars focused on sharing exemplary AX case studies, alongside one-on-one technical consultation sessions tailored to the specific needs of exporting companies. This customer-centric approach aims to provide personalized technology consulting, thus enabling firms to capitalize on AI’s full potential and subsequently enhance their market positioning.

Chairman Yoon emphasized the pressing need for AI utilization in areas such as international buyer discovery, supply chain optimization, and regulatory risk forecasting. He articulated that successful AX will serve as a launching pad for the trade industry during this unprecedented period of global uncertainty.

Chairman Cho further reinforced the commitment of the collaborative body to provide substantive support for AI integration in trading activities, fostering a robust platform for AI and software companies to expand alongside the trade industry into the global marketplace.