At the 25th OKTA LA presidential election, Byungmo Chung, current advisory director, was elected as the next president of the Los Angeles branch of the World Korean Trade Association (OKTA LA).

On the 6th, OKTA LA announced that Chung was elected as the 25th president during the 4th regular board meeting and general assembly, held on the 3rd at the Oxford Palace Hotel in Koreatown. In this year’s election, the current OKTA LA chairman, Gyosik Lee, faced off against advisory director Chung, with Chung receiving the most votes from attending board members. The term of the OKTA LA president runs from January 1 to December 31, 2025, with the possibility of serving one additional term. The inauguration ceremony for the new and outgoing executive board will take place on December 4 at the Taglyan Complex in Hollywood.

Byungmo Chung, who was elected as the next president, has previously held several leadership roles, including OKTA LA chairman in 2013, chairman of the Federation of Korean Small and Medium Business in the U.S., and chairman of the Southern California Jeolla Province Association.

Chung stated, “I aim to lead OKTA LA as a transparent, fair, and united trade association, and this will only be possible with your support. I kindly ask all board members to work together to guide OKTA LA’s 25th term as one.”

OKTA LA members attending the general meeting pledged to continue working together under the new leadership to drive the association’s growth and development. The World Korean Trade Association (World OKTA), established in 1994, is the largest economic organization for overseas Koreans, with 141 branches in 67 countries and over 7,000 regular members. OKTA LA, with around 370 members, is the largest chapter within the organization.

World OKTA’s initiatives include various projects such as the World Representatives Conference, the World Korean Businessmen’s Convention, the Next Generation Global Startup Trade School, continental Next Generation Leaders Conferences, export voucher programs, global startup and employment support, global technology business collaboration centers, overseas carbon business support, export company assistance, and expanding overseas branches.

In July, OKTA held the “North American Business Conference” in New Jersey, bringing together members from across the U.S., Canada, South America, Europe, and Oceania to strengthen business networks. In August, they held a 2-night, 3-day “Global Startup Trade School” for overseas Koreans aged 22-39, promoting business networking and nurturing the next generation of entrepreneurs. OKTA also supports an annual lecture series for Korean business owners, focusing on global economic and trade forecasts, as well as tax-saving strategies. In addition, OKTA regularly offers online and offline seminars aimed at strengthening members’ professional networks and improving the business environment.

Meanwhile, from October 28 to November 1, World OKTA will host the “28th World Korean Business Convention” (2024 KOREA Business Expo Vienna) in Vienna, Austria. The event is co-organized by World OKTA and KOTRA (Korea Trade-Investment Promotion Agency), with sponsorship from South Korea's Ministry of Trade, Industry, and Energy, the Ministry of SMEs and Startups, and the Federation of Korean Business Organizations in Europe. It is expected to bring together 300-350 European companies hoping to expand their exports, 200 local buyers from Europe, and 1,200 World OKTA member buyers, providing a platform for trade information exchange and strengthening personal network capabilities.

Reporter: Hongyong Park

<Hongyong Park>