1. The 2021 Korea-Pacific Island Countries (PICs) Trade and Tourism Forum was held on May 31, hosted by the Korea Importers Association (KOIMA) and sponsored by the Ministry of Foreign Affairs.

° The Forum brought together more than 70 participants including Deputy Director-General of the Asian and Pacific Affairs Bureau Kim Jang Hyun, Ambassador of Papua New Guinea to Korea Andrew Yamanea, Chairman of the Korea Importers Association (KOIMA) Hong Kwang Hee, and business leaders of Korea and PICs. Leading figures of the Pacific Islands Forum (PIF), including Deputy Secretary-General of the Pacific Islands Forum Secretariat (PIFS) Dr. Filimon Manoni and CEO of the South Pacific Tourism Organization (SPTO) Chris Cocker, also virtually attended the Forum.

2. The Forum took place in the situation where PICs, whose GDPs rely heavily on trade or tourism, are suffering from negative economic consequences caused by COVID-19. The Forum served as an opportunity to connect firms of PICs which hope to enter the Korean market, and Korean importers looking to import quality products from PICs.

° Representatives of six firms of PICs respectively showcased their products to Korean importers. The sample products displayed at the venue also drew a lot of attention from Korean business leaders.

° Deputy Director-General Kim delivered a keynote address, where he renewed awareness of the meaning of the Pacific Ocean to Korea and stressed the importance of restoring economic and people-to-people exchanges among countries. In addition, he encouraged keen attention and participation of relevant organizations and enterprises in revitalizing bilateral trade and tourism between Korea and PICs.

3. The Ministry of Foreign Affairs established the “ROK-PIF Cooperation Fund” in 2008 in order to institutionalize Korea’s substantive cooperation with 14 PICs. The Fund has so far supported the empowerment of PICs in the areas of healthcare, climate change response and fisheries, among others.

° The “ROK-Pacific Islands Trade and Tourism Promotion Project” was launched in March 2019, broadening the scope of the official development assistance (ODA) to PICs to include the trade and tourism areas. This Forum was held as part of the Project.

° The Korean government is committed to continuing its support for the sustainable economic and social development of PICs through the ROK-PIF Cooperation Fund.