Market Trends and Entry Strategies from India and ASEAN Experts
- KITA & Frost & Sullivan co-hosted 'Next China
Strategic Market Conference' -
The Korea
International Trade Association (Chairman, Kim Young-joo) held the 'Next China
Strategic Market Conference' at COEX, Samseong-dong, Seoul on December, 18, Monday. The conference, which was attended by more than 400
people including industry representatives, was designed to seek ways to focus
on cooperation in areas such as transportation, energy, and smart information
communication, in line with the recently announced 'Korea-ASEAN Future
Community Initiative', announced by the Moon Jae-in's government.
In this conference, Manoj Menon, Lee
Sung-min, a researcher at the Korea Culture and Tourism Institute, Eom Eun-hee,
a senior researcher at the Center for Social Science in Seoul National
University, and Cho Yun-mi, Ph.D at the Institute of Cross-Cultural Studies in
Seoul National University, participated as speakers and presented the trends
and industrial structure changes in ASEAN market in the era of the 4th
Industrial Revolution and countermeasures for them.
Asia Pacific President Manoj Menon at
Frost & Sullivan, the co-host of this conference, stated, "As the
middle class of ASEAN has expanded, consumption demand and purchasing power
have been grown." He added, “As various opportunities, such as the
high-value-added service industry targeting the rapidly growing middle class, coexist,
it is necessary to establish a well-tailored entry strategy by deeply analyzing
their consumption pattern changes."
The speakers particularly emphasized
the potential power of the content industry in the digital age in Indian and
ASEAN market.
Lee Sung-min, a researcher at the Korea Culture and Tourism
Institute, said, "With the expansion of mobile media, content
consumption in India, Indonesia and other potential markets has started to
explode." He also mentioned, "Digital innovation proliferating in
Asia will provide new opportunities for Korea's entertainment industry.”
Eom Eun-hee, a senior researcher at
the Center for Social Science in Seoul National University, said “The
transition to a new digital age is happening very rapidly, and the sharing
economy which is pursuing cooperative consumption of goods and services is
growing rapidly in ASEAN." She also stressed, "For the desirable
Korea-ASEAN cooperation, it is essential to build interactive and horizontal
relationship as well as mutual understanding.” l
Kim Geuk-soo, head of International
Affairs Group at the Korea International Trade Association, said, "Upon
President Moon's visit to ASEAN, many expect stronger cooperation between Korea
and ASEAN.” He added, “We hope that Korean companies will broaden their
horizons and expand their businesses to global market by taking this conference
as an opportunity.”
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