KITA News and Reports
  • Global Retailers Visit Korea, Purchase Korean Products
    2016-12-15

    Global Retailers Visit Korea, Purchase Korean Products

     

    - KITA’s Korea Grand Sourcing Fair 2016 Invited 101 companies from 21 countries - 

     

     

    A number of large retailers from overseas visited Korea and sought to purchase Korean consumer goods. The Korea International Trade Association held “The 9th Korea Grand Sourcing Fair 2016” at COEX, Seoul by inviting 101 major foreign importers for two days from 5th to 6th of December.     

     

    This fair took place to celebrate the 53th Trade Day and numerous big buyers with a large sales network such as department stores, supermarkets, convenience stores, online shopping malls, and specialty stores participated in the event. While 136 buyers from 101 retailers in 20 countries took part in the event, the participants included global retailers such as Staples, the US' largest distributor of office supplies, Tesco of the UK, Seven-Eleven of Japan, China’s second-largest online shopping mall JD.com (Jingdong Mall), IKEA of Sweden and Lazada of Singapore.

     

    By country, the largest number of 27 Chinese companies participated in the fair and major retailers from CIS countries, the emerging markets in Asia, including India, Indonesia and Vietnam were prominent. Korean companies’ local entities such as E-Mart Vietnam, Hyundai Home Shopping Vietnam and Lotte Mart attracted attention by searching for Korean suppliers to find products for local sales.

     

     

    The buyers who visited Korea this time were interested in purchasing food products (agricultural and marine products, health food), cosmetics and health and health supplies, household goods (furniture, gifts, kitchen utensils), electronic products (home appliances, Electrical appliances, communication products), and textiles (apparel, fashion accessories) in order.

     

    Meanwhile, KITA held seminars on "Export Strategies for Major Markets by Utilizing Big Buyers” and “Sales Strategies through Global Online Store” apart from the one on one export consultation meetings between overseas buyers and domestic exporters. 

     

     

    Kim Jung-soo, director of International Affairs Department at KITA said “A large number of major buyers in local retail markets participated in this fair.” He added “The overall export is rather sluggish but it shows that the possibility of the expansion of Korean consumer goods is still high in light of the Korean Wave, etc.”

     

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