KITA News and Reports
  • KITA held the '2017 Tokyo Korean Product Fair’
    2017-04-19

     

    KITA held the '2017 Tokyo Korean Product Fair

     

    - 107 Korean promising SMEs participate in the event for 2 days from 18th -

     

    Over the past 50 years, bilateral trade volume between Korea and Japan has increased from 200 million dollars in 1965 to 71.8 billion dollars in 2016. Human exchanges between the two countries have increased every year, reaching 8 million. However, since the end of last year, the relationship between Korea and Japan has not been able to escape from the frozen status due to the history issues and trade and investment between the two countries have also been shrinking.

     

    The Korea International Trade Association (Chairman, Kim In-ho) held the '2017 Tokyo Korean Product Fair' for two days from April 18 at the Tokyo International Forum with a view to narrowing the distances between Korea and Japan and further expanding the entry of Korean small and medium-sized companies into the Japanese market.

     

    This year marked the 16th anniversary of the event. This event is designed to display Korean products and carry out consultation meetings with 1,300 buyers from 1,100 Japanese retailers and importers, including Kyosera Co., Ltd., Otsuka Sangyo Co., Ltd., Tokyu Hands Co., Ltd., CJ Japan Co., Ltd., etc. 107 Korean promising small and medium-sized enterprises that were selected from 9 local governments including Gyeonggi Province also participated in the fair.  

     

    Japan's domestic market is recovering slowly, and the special demand for the 2020 Olympic Games in Tokyo is anticipated. Therefore, Korean promising small and medium-sized companies from each industry, including 28 health and beauty product companies including cosmetics, 34 household item companies, 15 electric and electronics companies, 12 machinery and environment companies and 18 agricultural and fishery product companies took part in the fair and sounded their possibilities of entering into Japanese markets.   

     

    In particular, the products that were prepared by reading the trends in the Japanese market caught eyes of the participants. Among them, 'IT industry', which is attracting attention as the recent key growth engine of Abenomics, 'silver industry', which is building a super market with a total size of over 100 trillion yen, and the products from 'beauty industry', which has been displaying steady growth received favorable reviews.

     

    Smart medical Device CO., LTD. participated in this fair by targeting the silver industry  which is rapidly emerging as the driving force for the Japanese consumer market. The company has already introduced reasonably priced products equipped with a GPS terminal with a function to detect and protect a demented elderly person by recognizing that the shoes with the same function in the Japanese market were expensive.

    The company's products have attracted a great deal of attention from Japanese buyers with the advantage of the GPS terminal which is attachable to the shoe outsole regardless of the size or design of the shoe.

     

    In addition, Smart City Grid CO., LTD. received favorable responses by introducing products equipped with IoT function. The buyers expressed positive reactions to the air pollution detection sensor built in the product which performs way beyond the existing air purifiers for cars as it measures the air pollution level in detail and operates the air cleaner in accordance with the situation or controls the other devices automatically. Although air purifiers for automobiles are widely sold in Japan, the company has been targeting the Japanese market with differentiated functions that are automatically controlled after measuring air quality.

     

    Kim Geuk-soo, head of KITAs International Affairs Group said Japan's economic growth rate is expected to bounce back to 1.2 percent in 2016, and the economic growth will continue due to low yen and the rise of share price. He added KITA will continue to provide opportunities to interact with Japanese buyers through online as well as offline channels."

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