KITA News
  • KITA held Korea Grand Sourcing Fair 2018' at COEX
    2018-12-04

    KITA held Korea Grand Sourcing Fair 2018' at COEX

     

    - 94 buyers from 24 countries … operated ‘Start-up Special Pavilion’-

     

     

     The Korea International Trade Association (Chairman, Kim Young-joo) held ‘Korea Grand Sourcing Fair 2018' at COEX, Seoul for two days starting on December 4, sponsored by the Ministry of Trade, Industry and Energy, the Ministry of Oceans and Fisheries and KB Kookmin Bank.

     

     

     The event was held ahead of the 55th Trade Day and was attended by 118 buyers from 94 companies in 24 countries around the world and they participated in one-on-one export consultation meetings with 600 Korean companies. Global buyers such as Japan’s largest convenience store chain Seven-Eleven and the country’s largest Internet shopping mall Rakuten, the United States’ household goods manufacturer and distributor P&G, China's largest electronic distribution chain Suning.com, and Chengdu Honqi, the largest convenience store in China’s west area, took part in the event and received sizable attention from Korean companies.

     

      

     29 buyers from Southeast Asia, including Thailand, Malaysia and Vietnam, as well as 9 buyers from Russia and the Commonwealth of Independent States (CIS) also participated. Through the UAE branch of the Korea International Trade Association that opened this year, large buyers from the countries such as Lebanon, Kuwait and South Africa, that had been difficult to approach, took part in the fair to source Korean products.  

     

     

     The Korea International Trade Association invited nine overseas home shopping networks owned by GS Home Shopping as a part of its win-win partnership with the small and medium-sized companies. Overseas sales through home shopping have the advantage that the export volumes are large if the contract is concluded.

     

     

     A 'Start-up Special Pavilion' was also set up to support the start-ups’ overseas expansion. In the special pavilion, sixteen start-ups, including a vacuum mouth care machine (Dr. Pick) and a zero-electromagnetic waves heating pad (Mcell), exhibited and promoted their innovative products based on unique ideas and had business consultations with pre-matched buyers.

     

      

     Cho Hak-hee, head of the International Affairs Group at the Korea International Trade Association, said, “Korea Grand Sourcing Fair 2018 is KITA’s major overseas marketing business and it marks its 11th anniversary this year. We made great efforts to invite the buyers who actually have willingness to purchase Korean products rather than considering the number of buyers.” He stressed, “We will accelerate the diversification of export markets through new buyers that reflect distribution trends such as home shopping and online to offline services (O2O), etc.”

     

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