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  • KITA’s Export Support Online Platforms Are Stepping-stone for Small Exporters to Export
    2018-09-17

    KITA’s Export Support Online Platforms Are Stepping-stone for Small Exporters to Export

     

    - TradeKorea and Kmall24 support small and medium-sized companies to make inroads into overseas and to strengthen their export capabilities -

     

    ‘TradeKorea’, a B2B e-commerce export support platform, and Kmall24, an online overseas direct sales mall, of the Korea International Trade Association (Chairman, Kim Young-joo) are playing a pivotal role in making inroads into overseas markets and enhancing export capabilities of small and medium-sized companies.

      

    Trade Korea marks its 10th birthday this year and has contributed greatly to the increase of the exports of small and medium-sized companies with the efforts of the business matching team, which is made up of matching specialists of each item. Last year, export contracts worth over 43 million dollars were signed and in the first half of this year, exports contracts worth of 21.67 million dollars, increased by 38.5 percent year-on-year, were signed. In particular, the performances of less than 7 years old start-up businesses were outstanding. In the same period, start-ups’ export sales amounted to 11 million dollars, mainly in cosmetics, household goods and IT products.

      

    The improvement of export capability of small and medium-sized companies is also remarkable. According to the Korea International Trade Association, among the applicants who applied through the TradeKorea in 2016, the exports of 807 novice exporters with the export volume of less than 1 million dollars increased by 26.1 percent year-on-year. Small and medium-sized enterprises that had had difficulties in finding export channels in overseas markets at first, started exporting through TradeKorea. Now, with the foundation, they are expanding their trading opportunities abroad by themselves. 

     

    Ener Camp, a manufacturer of jump starters for automobiles, did not have any export record. However, this year, the company sold 156,000 dollars worth of products within a day through ‘K-ABC’, a joint venture of TradeKorea and Amazon to make inroads into the US market. With the help of tradeKorea, Baekjoo Chemical, a producer of plastic films, has signed its first supply contract of 13,000 dollars with a big buyer of Romanian construction equipment.

      

    Kmall24, an overseas direct sales online shopping mall for the small and medium-sized companies, is getting popular among the consumers in over 70 countries and its sales are growing. Sales in 2017 increased by 139 percent compared to the previous year.  It continues to maintain its growth rate at 33 percent in the first half of this year and is playing a role as the overseas online marketing platform for small and medium-sized businesses with limited export experiences.

      

     

    Seungeun Cosmetics, a domestic demand-oriented cosmetics distributor, has become a global sales specialized distributor after successfully selling 60,000 dollars worth of Korean cosmetic brands that are not well known in Korea yet to the North American regions in the first half of this year through Kmall24. A cosmetics brand SR biotek, which had no overseas direct sales experiences before, launched a new brand in consultation with the specialized MD at Kmall 24 from the planning stage of the brand, including suitable containers, packaging and design for overseas sales and achieved approximately 20,000 dollars of sales.

      

    Kmall24 is working on various promotional strategies utilizing the Korean Wave to reflect the latest trends of overseas consumers. 'Hallyu Dramas Commerce' is a new concept of marketing that sells the products on online platforms by utilizing the copyright of the drama and the portrait rights of the actors after exposing particular products in drama series. Small and medium-sized companies' products that appeared in ‘Hello, My Twenties! 2’, A Korean Odyssey' and What's Wrong with Secretary Kim’ were very popular and sold well in China and other countries.

      

    Heo Duck-jin, head of the e-Biz services group at the Korea International Trade Association, said, As the global e-commerce market has exploded in recent years, the significance of online export platforms is growing. He also added, In the future, we plan to actively support start-up products armed with ideas and technologies to make inroads into overseas markets through TradeKorea and Kmall24.

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