It has been belatedly revealed that Park Jong-beom, the president of the World Federation of Overseas Korean Traders Associations (World OKTA), issued an apology after facing internal backlash for attempting to change the association's name without the review of the board of directors.
According to a standing director on the 20th, President Park recently posted a message in a group chat saying, "I sincerely apologize for causing confusion and concern to all members. This matter should be carefully discussed and decided upon together with all members."
On the 11th, President Park explained the background for 추진 (pushing forward) the change of the association's name to the 'World Korean Economic and Trade Association' in an interview with a Korean media outlet.
He stated, "It was determined at the Standing Executive Committee meeting on March 27th that including the comprehensive term 'economy' would be beneficial for establishing our standing as one of the top 7 domestic economic organizations, and the name change proposal was passed."
The English name of the World Federation of Overseas Korean Traders Associations is 'World Federation of Overseas Korean Traders Associations (OKTA)'. The main point of the name change is to add 'economy' to the Korean name while keeping the English name as it is.
Upon learning of this news, the World OKTA board of directors immediately protested.
In the group chat for all standing directors, a message was posted stating, "If the executive branch discussed it, they should have notified the standing directors to gather opinions before releasing it in the news. There seems to be an intention to hastily process this without board review."
Another message lamented, "The name is the identity of OKTA. To revise it, the purpose, objectives, and unreasonable aspects of the current name must be clearly stated."
A veteran member who participated in the founding of World OKTA criticized, "Since the association's establishment in 1981, it has been a group centered around traders. At various conventions and gatherings, we always cheered 'OKTA!'. If the Korean name changes, the English name will also change in the future, and then the name OKTA, which we have all been proud of, will disappear."
Regarding this, there are criticisms suggesting that President Park might be making an unreasonable move to seek re-election as the head of the association.
A branch president of World OKTA criticized, "It is not appropriate to learn about the issue of changing the name of an association, not a private company, through a president's interview article. This is a result of disregarding the opinions of members who have been active under the name OKTA for decades."
President Park, who was elected as the 22nd president of World OKTA at the convention in October 2023, has a term that lasts until October of this year.
As internal protests spread, President Park explained that his remarks, mentioned during his promotion of the association and explanation of future directions at a Korean association event in Europe, were reported in the news.
However, President Park has not withdrawn the name change 추진 plan and stated his hope for sufficient discussion opportunities at the Andong Convention (World Representatives Convention) at the end of this month, suggesting that the internal conflict will likely continue for the time being.
Now, I will proceed to search for additional information online about World OKTA, its history, its significance within the Korean diaspora and the global trade landscape, and any recent news or discussions related to its identity or potential name change. This will help me enrich the article with more context and details. World OKTA President Apologizes Amid Internal Revolt Over Aborted Name Change
Park Jong-beom, the incumbent president of the World Federation of Overseas Korean Traders Associations (World OKTA), has found himself in hot water following a belated revelation of his attempt to unilaterally alter the organization's name. The move, made without the customary review and approval of the board of directors, ignited a firestorm of internal dissent, ultimately compelling President Park to issue a public apology.
According to a high-ranking standing director who spoke on the condition of anonymity on April 20th, President Park addressed the brewing controversy with a message posted in a group chat frequented by association leaders. In his mea culpa, Park stated, "I sincerely apologize for causing confusion and concern to all members. This matter should have been carefully discussed and decided upon together with all members."
The genesis of this internal strife traces back to an interview on April 11th, where President Park publicly announced his 추진 (pushing forward) to rebrand the esteemed organization as the 'World Korean Economic and Trade Association.' In explaining his rationale to a Korean media outlet, Park asserted that the inclusion of the term 'economy' in the Korean denomination was deemed advantageous for elevating World OKTA's standing among the top seven domestic economic organizations. He further noted that this proposed name change had already secured the endorsement of the Standing Executive Committee during a meeting held on March 27th.
Crucially, the proposed alteration was intended to affect only the Korean name of the association. The English moniker, 'World Federation of Overseas Korean Traders Associations (OKTA),' was slated to remain unchanged. This nuance, however, did little to quell the rising tide of opposition within the organization's leadership ranks.
News of President Park's initiative reverberated swiftly through the World OKTA board of directors, triggering an immediate and vociferous backlash. The digital corridors of the standing directors' group chat became a forum for impassioned debate and expressions of deep concern.
One incensed director articulated the prevailing sentiment, stating, "If the executive branch engaged in discussions, the proper protocol would have been to inform the standing directors and solicit their input before making any public announcements in the news. The apparent intention to rush this through without the requisite board review raises serious questions about the underlying motives."
Another director echoed this sentiment, emphasizing the profound significance of the association's name. "The name is inextricably linked to OKTA's very identity," they asserted. "Any proposal to revise it necessitates a comprehensive articulation of the rationale, objectives, and any perceived inadequacies of the current designation."
Adding historical weight to the chorus of disapproval, a venerable founding member of World OKTA voiced their profound dismay. "Since the association's inception in 1981, we have been a collective bound by our identity as traders," the veteran member recounted. "The acronym 'OKTA' has become a rallying cry, a symbol of our unity and pride, invoked in countless toasts at our gatherings. If the Korean name is altered, it is an inevitable precursor to changing the English name as well, effectively erasing the 'OKTA' identity that we have all cherished."
In the wake of this controversy, speculation has emerged suggesting that President Park's assertive 추진 for a name change might be a strategic maneuver to bolster his prospects for re-election as the association's leader. His current term, which commenced following his election as the 22nd president at the October 2023 convention, is set to conclude in October of this year.
A branch president within the World OKTA network minced no words in their critique, stating, "It is wholly inappropriate for the issue of changing the name of an association, which is not a personal enterprise, to be unveiled through a presidential interview in the media. This reflects a blatant disregard for the opinions of the members who have dedicated decades to 활동 (activities) under the established 'OKTA' banner."
Faced with escalating internal opposition, President Park attempted to clarify the situation. He explained that his initial remarks regarding the name change were made during an event in Europe, where he was engaged in promoting the association and outlining its future trajectory. He suggested that these comments were subsequently reported in the news, implying a degree of misinterpretation or premature disclosure.
However, despite the apology and the explanation, President Park stopped short of explicitly withdrawing the contentious name change 추진 plan. Instead, he expressed his hope that the upcoming Andong Convention (the World Representatives Convention) at the end of April would provide a platform for thorough and inclusive discussions on the matter. This stance suggests that the internal friction within World OKTA is likely to persist in the near term, with the fate of the association's name hanging in the balance pending the deliberations at the upcoming convention.
Background and Significance of World OKTA
Established in April 1981, the World Federation of Overseas Korean Traders Associations (World OKTA) emerged as a pivotal network for Korean entrepreneurs operating across the globe. Initially founded by 101 overseas Korean traders from 16 nations, primarily in the United States and Japan, the organization was conceived with the primary objective of fostering trade ties with their homeland and contributing to South Korea's economic development. Under the guidance of the then-Ministry of Trade (now the Ministry of Trade, Industry and Energy) and with the support of the Korea Trade-Investment Promotion Agency (KOTRA), World OKTA officially registered as a non-profit organization in 1994.
Over the ensuing decades, World OKTA has evolved into the largest and most influential economic organization within the Korean diaspora. Boasting a global network spanning 71 countries and encompassing 151 chapters, the association comprises approximately 7,000 full members and an additional 32,000 associate members, including next-generation entrepreneurs. Its enduring mission remains centered on strengthening the connectivity among overseas Korean business leaders and facilitating the global expansion of South Korean small and medium-sized enterprises (SMEs).
World OKTA plays a crucial role in bridging the gap between South Korean businesses and international markets. Through initiatives such as the annual "Korea Business Expo," held in April and October, the organization provides a vital platform for SMEs to engage in business consultations and networking opportunities with overseas Korean entrepreneurs. These interactions often pave the way for successful entry into foreign markets and the bolstering of South Korea's export capabilities.
Beyond its core economic objectives, World OKTA is also deeply committed to nurturing the next generation of Korean business leaders. Recognizing the unique challenges faced by the first generation of overseas Korean entrepreneurs in adapting to local societies, the association offers tailored educational programs designed to equip young South Korean traders with the skills and knowledge necessary to thrive in the global business arena.
The significance of the "OKTA" moniker itself is deeply ingrained in the association's history and identity. Since its inception, "OKTA" has served as a unifying symbol, representing the collective strength and aspirations of overseas Korean traders. The proposal to alter the Korean name, even while retaining the English acronym, has understandably触动 (touched) a raw nerve among many long-standing members who view the name as an integral part of their shared heritage and professional identity.
The unfolding controversy surrounding the proposed name change underscores the delicate balance between the need for organizational evolution and the importance of preserving a cherished identity built over decades of collective effort. As World OKTA approaches its upcoming convention in Andong, the discussions surrounding its name will undoubtedly be closely watched by its global membership and the broader Korean business community. The outcome of these deliberations will not only shape the future branding of this influential organization but also reflect the deeply held values and priorities of its diverse and accomplished members.
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