The state-run trade promotion agency Kotra and foreign chambers of commerce in Korea on Thursday signed a memorandum of understanding to cooperate in providing economy-related educational programs for expatriates working in South Korea.

The program, called “Business+ Forum,” will begin in March next year, and expatriates at the management and executive level working in foreign companies, international organizations and embassies in Korea will be able to apply for the course, according to Kotra.

“We named it ‘Business+ Forum’ because the program could grow beyond to deal with not only the economy, but other sectors as well. High-quality business information will be provided entirely in English and it will be tailor-made for expatriates. It will be an opportunity for foreign businesses to expand their networks in Korea,” said Lyu Jae-won, chief data officer of Kotra and the originator of the idea man.

The topics to be dealt with at the program include recent domestic economic and industrial trends that can help business management and risk prevention.

Kotra and the 15 chambers will select topics for the program, which will be held once a month and also invite renowned speakers for lectures.

“The international business community is a major stakeholder in the Korean economy. I think as chambers get together, they can all benefit from current market information and intelligence sharing,” said James Kim, CEO and chairman of American Chamber of Commerce.

Fifteen chambers include the US, Australia, UK, Canada, Europe, Finland, France, Germany, India, Ireland, Italy, New Zealand, Singapore, Spain and Sweden.