Overseas Buyer Invitation Export Consultation Meeting Promotes 6 Billion Won Contract

Yongin Special City announced on the 23rd that it is promoting a contract worth 4.44 million dollars (approximately 6 billion won) through the ‘2024 Yongin Special City Y-Trade Export Consultation’ held in Giheung-gu on the 21st. At this consultation, a total of 183 cases, 15 million dollars (approximately 20.6 billion won) worth of export consultations were held, and 5 companies signed a business agreement (MOU) worth a total of 1.26 million dollars (approximately 1.7 billion won) on site.

[Korean Today] On the 21st, the ‘2024 Yongin Special City Y-Trade Export Consultation’ was held at GA Korea Family Condo in Gomae-dong, Giheung-gu, inviting overseas buyers. © Reporter Na-yeon Kim

Yongin Special City (Mayor Lee Sang-il) announced on the 23rd that it is promoting a contract worth a total of 4.44 million dollars (approximately 6 billion won) through the ‘2024 Yongin Special City Y-Trade Export Consultation’ held at GA Korea Family Condo in Gomae-dong, Giheung-gu on the 21st. This consultation was hosted by the Yongin City Industrial Promotion Agency and the Korea Trade-Investment Promotion Agency (KOTRA), and was held successfully with the participation of 32 overseas buyers from 16 countries and 53 excellent small and medium-sized companies from Yongin Special City.

At this event, small and medium-sized enterprises in Yongin City conducted a total of 183 export consultations worth 15 million dollars (about 20.6 billion won). In particular, 5 companies including ‘GNT Pharma’ that produces essence masks, ‘HB Global’ that manufactures detergents, ‘Vox House’ that produces hair products, ‘Plasticos’ that provides functional ampoules and mists, and ‘Meitu’ that manufactures eyeliners signed a business agreement (MOU) worth a total of 1.26 million dollars (about 1.7 billion won) on site.

At the consultation meeting, 1:1 business export consultations were held between participating companies and overseas buyers, and export consulting was also provided using Yongin City export mentors. In particular, an official from Giftmall Inc., Japan’s largest gift online mall, held an information session to help companies enter the Japanese distribution network in hopes of expanding imports of Korean companies’ products, drawing the attention of many companies. This company has the largest e-commerce distribution network in Japan, handling over 500,000 items, and is evaluated to provide a great opportunity for companies in the region to enter the Japanese market.

In addition, KOTRA has set up a promotional booth for the ‘Yongin Digital Trade Comprehensive Support Center (deXter)’ scheduled to open in the Yeongdeok-dong Small Business and Startup Hub in the second half of this year, and has received a great response by providing support for export product photography and online product registration for companies that have applied in advance. The ‘Yongin Digital Trade Comprehensive Support Center’ is an organization established to help domestic small and medium-sized enterprises advance overseas, and will provide product content production necessary for export, video conference support, and digital trade practical training.

Mayor Lee Sang-il of Yongin Special City said in his welcome video, “We welcome overseas buyers visiting Yongin Special City, the global semiconductor hub city,” and emphasized, “Yongin Special City is a city with the potential to record the highest trade balance in Gyeonggi Province in the first half of this year, and we will spare no effort in providing various support to strengthen the competitiveness of companies in the region and to develop overseas markets.” He also said, “I hope that the companies that participated in this consultation meeting will achieve good results and grow into strong companies.”