KITA Held ‘Business Matching Consultations between Domestic Demand-Bound Companies and Overseas Companies in Korea’
- Supported domestic demand-oriented companies such as cosmetics and medical devices to make inroads into overseas markets for the first time -
The Korea International Trade Association (chairman, Kim Young-joo) held '2018 Business Matching Consultation Meeting for Korean and Overseas Companies' at COEX, Samseong-dong, on October 18, in partnership with Gangnam Global Business Center of the Seoul Business Agency.
This meeting was designed to support procurement of Korean products for foreign companies as well as Korean companies’ sales channels in overseas markets. 14 companies from 9 countries, including France, Canada, China and Japan, participated in the event and carried out 110 consultations with 55 Korean small and medium-sized companies dealing with cosmetics, consumer goods and medical devices focusing on domestic market.
The overseas companies that source Korean products and export to their home countries were very interested in highly competitive Korean products such as functional cosmetics. Also, Korean companies actively consulted with anticipation about securing distribution channels in various regions such as China and Europe.
A small company’s CEO who participated in the consultation meeting said, "It was possible to have more in-depth negotiations because we were able to grasp basic information about the company and products in advance through pre-matching service.” He also said, "I expect to see more opportunities for export beginners that are domestic market-oriented to make inroads into new overseas markets."
Kim Jung-soo, head of Member Support Department at the Korea International Trade Association, said, "We expect that the domestic demand-oriented companies and the unexperienced exporters will be able to achieve their first exports utilizing the foreign companies’ overseas networks.” He added, "We will continue to hold business matching consultations for the small and medium-sized companies in the future."