Ranked ‘First in the Nation’ after evaluating performance of the ‘GTEP Project Team’ hosted by the Ministry of Trade, Industry and Energy and the Korea International Trade Association
Fulfilled role as incubator for young trade experts for 19 years since the TI project in 2002
Only university in the nation specializing in the Middle East and fostering export experts to the Middle East in connection with major regional industries
[April 27, 2020]
<YU GTEP project team students participated in the 2020 Dubai GULF FOOD Expo to provide export consulting to buyers>
YU (President Sur Gil-soo) was accredited as the incubator for fostering young trade experts. YU was ranked first in the nation in the ‘Global Trade Experts Incubating Program (GTEP) project team’ performance evaluations hosted by the Ministry of Trade, Industry and Energy and the Korea International Trade Association.
The GTEP project team is operated for a total of 20 universities around the nation including YU, Konkuk University, Soongsil University, Dankook University, Inha University and the Hankuk University of Foreign Studies. Among them, the YU GTEP project team received the highest score at 91.2 for the 2019 (13th) performance evaluations, thereby receiving an additional 20 million KRW project funding as incentives. YU also received incentives of 10 million KRW for its high ranking in the 2018 performance evaluations.
The YU GTEP project team was joined by 42 students as the 13th team last year and helped 110 companies over 130 different export marketing sessions including overseas market surveys, participation in overseas expositions, and export consulting to achieve exports exceeding 2 million USD.
In particular, the YU GTEP project team showed especially outstanding performance in the Middle Eastern market. YU is the only university among GTEP project teams around the nation selected to specialize in the Middle East. The YU GTEP project team is playing a big role in fostering trade experts with abilities to speak in Middle Eastern languages and practical knowledge in trade to help companies based in Daegu and Gyeongbuk engaged in major core export industries to enter foreign markets.
YU was selected as a ‘GTEP overseas regional specialization project’ in 2014 and received separate project funding to pursue Middle Eastern trade expert fostering projects. YU is providing regular Middle Eastern industry and trade characteristic education for GTEP project team students and concentrated education is being provided on the characteristics of the Middle East and business practices by inviting Middle East export experts and corporate personnel in charge of Middle Eastern exports.
This year’s YU GTEP project team signed agreements with 10 companies specializing in exports to the Middle East such as the agricultural corporation, Youngpoong and dispatched a total of 19 students for five days from February 16 to 20 to the 2020 UAE Dubai GULF FOOD expo. They were present at the expo demonstrating capacities equivalent to that of business professionals for product PR and buyer consulting, and acted as a spearhead for SMEs to enter foreign markets.
The YU GTEP project team plans to expand participation in Middle Eastern overseas exhibits based on its network with Middle Eastern export companies and work knowhow that it accumulated over the past several years. It is expected that as automobile parts and textile industries, which are the main industries of the Daegu-Gyeongbuk regions, meet the needs of Middle Eastern countries and since demand for Middle East trade experts is expected to grow continuously, the YU GTEP project team’s Middle East trade expert fostering project will gain momentum.
<YU GTEP Project Team that participated in the 2020 Dubai GULF FOOD>
School of International Economics and Business Professor Son Sang-bum who leads the YU GTEP project team said, “We will foster advanced regionally specialized trade experts equipped with practical knowledge on trade and field experience desired by companies.” He added, “In particular, we will strengthen industry-academic cooperation with local SMEs to offer various practical experiences and to act as a hub that supports the supply of regionally specialized trade experts to SMEs.”
Meanwhile, YU has been engaged in the young trade expert fostering project for 19 years since the TI (Trade Incubator) project under the Ministry of Trade, Industry and Energy in 2002, and this year, it is operating its 14th GTEP project team.
