[Asia Economy Reporter Jang Hyowon] SY, a comprehensive building materials specialist company, announced on the 29th that it successfully concluded a video contest in Nepal with the attention of 22 million people. SY entered the local market in 2018 by establishing a production plant for building materials such as sandwich panels, windows, and doors in Nepal.
SY Nepal Corporation held the contest awards ceremony on the 28th at the Everest Hotel in Kathmandu, Nepal. Prize money and trophies were awarded to 19 teams of Nepalese influencers. The contest was held by creating brand CM songs in two versions?traditional Nepalese music and modern pop?and inviting dance video submissions through TikTok.
The company stated that from July 22 to August 22, a total of 1,257 videos were uploaded, accumulating 22 million views. The first prize was awarded to the couple Sumitra and Sungum, who warmly expressed the national sentiment of Nepal through dance and group choreography, achieving 1.4 million views. SY Group Vice Chairman Hong Sungkyun presented the award in person locally.
SY entered the Nepal market in 2018 by establishing a local building materials production plant during the recovery period following the 2015 Nepal earthquake. In addition to its main product, sandwich panels, the company produces windows and fire doors, supplying government projects with fast construction and insulation performance, thereby establishing a foothold in the local market.
Recently, SY has also gained recognition in the private housing market in Nepal. The company attributes this success to effective online promotion of the sandwich panel construction method in Nepal’s residential culture, which is centered more on individual houses than on multi-family housing such as apartments.
Choi Dongil, Managing Director of SY Nepal Corporation, said, “While continuing to secure large government construction projects, we are actively promoting sandwich panel houses through SNS platforms commonly used by Nepalese people, strengthening our position in the private housing market as well. Not only with the local production plant but also through a solid construction and distribution infrastructure including 86 dealerships across all regions of Nepal, we will lead the housing culture as a national company of Nepal.”
Meanwhile, according to the Central Bank of Nepal, despite the recent impacts of COVID-19 and the Ukraine war, the economy has shown stability with a steady average annual growth rate of 5% over the past two years. In particular, the construction and industrial sectors recorded a growth rate of 10.19%, driving economic growth.
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