Start-Up’s Innovative Products Open New Way to Export Korean Goods
- KITA held ‘10th Korea Grand Sourcing Fair
- Held consultation
meeting with 140 global big buyers from 26 countries including China -
International Trade Association (Chairman, Kim Young-joo) held the ‘10th Korea
Grand Sourcing Fair 2017’, sponsored by the Ministry of Industry, Trade and
Energy and the Ministry of SMEs and Startups, at COEX, Seoul for 2 says from
November 28 to 29 by inviting 140 overseas companies, including Global Big
event was held as a part of the "Trade Week" commemorating the 54th
Trade Day and 180 big buyers from 140 companies in 26 countries, including
large global retailers such as department stores, home shopping companies,
online shopping malls and importers came to Korea to purchase Korean products.
Global leading retail groups such as Staples, the largest office supplies
distributor in the United States, Seven-Eleven, the largest convenience store
chain in Japan, Reliance, the 3rd largest distributor in India, and
Singapore’s Lazada, the largest B2C e-commerce in Southeast Asia and large manufacturers,
including France’s L'oreal and P & G in the United States took part in the
Along with the ‘10th Korea Grand Sourcing Fair
2017,’ the Korea International Trade Association simultaneously held
‘Consultation Meeting with Retail Buyers from China’ and ‘Chinese Online
Shopping Mall and Home Shopping Sourcing Strategy Seminar." With the
influence of improved relations between Korea and China, 25 major Chinese
online shopping malls, and TV home shopping buyers, including Alibaba, JD.COM,
and VIPSHOP participated in the event.
45 buyers from South East countries, including
Indonesia, Thailand and Vietnam and India and 13 buyers from Russia and CIS
participated in the event. Those countries are receiving much attention due to
the government’s New Southern Policy as well as New Northern Policy. In
addition, the local offices of Lotte Mart in Indonesia and GS Home Shopping
partners in Southeast Asia also came to Korea to find domestic suppliers. The
officials from the major hospital in Colombia visited Korea to import Korean
medical equipment, and WTC Manila member companies participated in the event
with the organized Philippine pavilion.
By the type of distribution, 22 retailers,
including department stores, large discount stores, and convenience stores, and
31 home shopping companies and online shopping malls and 44 professional
importers, and 13 manufacturing companies participated in the event.
The Korea International Trade Association
mainly focused on actively supporting start-ups to make inroads into overseas
in order to diversify the export items. 24 start-ups participated in this
event, exhibiting innovative products utilizing new technologies such as ICT ？ IOT and had individual business consultations
with overseas buyers. During the event, innovative items such as Wearable
Braille Smart Watch (Dot) for the visually impaired, Smart Communication Device
(analog plus) that enables to listen to Bluetooth music while wearing a helmet,
Smart Baby Care Device (allb), which provides infants’ health information in
real time, smart Neckband (YouFirst-K) for the hearing impaired, and Backpack (Ambitionem) that enables travelers to mark their travel destinations with
special film were displayed.
KWAVE-EXPO, K-Wave stars such as Han Chae-young, Lee Yo-won, Hwang Chi-yeol,
and Hong Jong-hyun promoted products from small and medium-sized companies.
Moreover, other various events such as ‘K-Fish Pavilion’ where unique seafood
products were exhibited and ‘KITA’s Export and Job Consultation Pavilion’ took
place at the same time.
Geuk-soo, head of International Affairs Group at KITA, stated, "Korea-China economic exchanges
are becoming active ahead of the Korea-China summit at the APEC meeting. Also,
due to the government's New Southern Policy and the New Northern Policy
implementation, many global big buyers came to Korea to have consultation on
purchasing products." He also stressed "The Korea International Trade
Association will accelerate efforts to diversify the export market as well as
export items by actively promoting start-ups’ innovative products and promising
Korean products overseas."