KITA News and Reports
  • KITA Opens ‘Corporate Exhibition Hall’ at AfDB Annual Meeting
    2018-05-30

    KITA Opens ‘Corporate Exhibition Hall’ at AfDB Annual Meeting

     

    - Actively reflected Korean companies’ interest in entering Africa.. advertised technology capabilities such as smart city and new and renewable energy -

     

     

    The Korea International Trade Association (Chairman, Kim Young-joo) and the Ministry of Strategy and Finance will jointly run corporate exhibition hall and introduce Korean companies’ competitive products and technologies at ‘2018 African Development Bank Annual Meeting’ in BEXCO, Busan, which will take place for four days from, May 22.

     

    The theme of this year's annual meeting is ‘Accelerating Africa's Industrialization’ and 92 companies, including Korea Aerospace Industries, Korea Land & Housing Corporation, Korea Expressway Corporation, Hangul and Computer, and KDB Industrial Bank participated in the event with 204 exhibition booths. The size of the participation increased more than three times, reflecting the high interest of Korean companies, compared to the size of the exhibition hall (77 booths) at the ‘Asian Infrastructure Investment Bank (AIIB) Annual Meeting’ in June last year.

     

    The companies that participated in the corporate exhibition promoted technologies and products that AfDB wants to introduce from Korea such as smart city, new and renewable energy, infrastructure construction engineering, environmental water resources and defense industry.

     

    An official from a company said, "We’ve decided to participate in the exhibition to take advantage of the events associated with multilateral development banks such as ADB, AIIB and AfDB as new business opportunities.

     

    Before the event, the Korea International Trade Association held a welcome reception at Paradise Hotel in Busan on May 21 with some 800 delegations of AfDB and provided a networking opportunity with Korean companies. In addition, the companies who won prizes at the ‘Better Africa Startup Competition Award’ under the theme of business model and technology connection that are applicable to Africa delivered presentations.

     

    Cho Hak-hee, the head of International Affairs Group at the Korea International Trade Association said, “Africa has high growth potential with high population growth rate and abundant underground resources. However, the purchasing power of individual companies is not sufficient.” He stressed, “In order for Korean companies to securely make inroads into the African market, it is necessary to work with the regional multilateral development banks such as AfDB.

     

     

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