Seoul City to Host 'G-Valley Week' from 28th to 30th... Export Consultation and Startup Competition

Support for G-Valley Companies' Market Expansion: Overseas Buyer Export Consultations and Real-Time Broadcast Sales

[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government announced on the 27th that it will hold the representative event of G-Valley, ‘G-Valley Week,’ for three days from the 28th to the 30th to support the revitalization of companies residing in G-Valley and to facilitate various exchanges, investment attraction, and export consultations among companies. The export consultation meeting will be held on-site for the first time in three years.

Now in its 7th year, ‘G-Valley Week’ will include an overseas buyer export consultation meeting, a startup competition, an online job fair for outstanding G-Valley companies, and a live commerce day. To support the revitalization of G-Valley resident companies, which have been weakened due to the prolonged COVID-19 pandemic, Seoul has planned various programs in collaboration with the Korea Industrial Complex Corporation, Seoul Business Agency, Geumcheon-gu, and Guro-gu.

Industrial events for G-Valley resident companies will be held over three days, including an export consultation meeting with 20 promising overseas buyers, the 6th G-Valley Startup Competition, live commerce participation by one G-Valley resident company, and an online job fair.

First, the export consultation meeting, which supports small and medium-sized venture companies struggling to secure sales channels in overseas markets, will be held for one day on the 28th. While it was conducted non-face-to-face due to COVID-19, this year companies will meet face-to-face on-site. Individual spaces and interpreters will be provided for one-on-one export consultations between overseas buyers and participating companies, and an on-site exhibition hall will be set up to showcase participants’ products. This year, 20 promising overseas buyers from countries such as Malaysia, Vietnam, and the Philippines will be connected with 41 companies based in Seoul, including G-Valley, to support participating companies.

A startup competition to discover promising startup ideas will also be held. A total of eight teams will advance to the finals and compete for final rankings on-site on the 29th, followed by an awards ceremony. Depending on their ranking, awards such as the Seoul Mayor’s Award and the Minister of Trade, Industry and Energy Award will be given along with prize money totaling approximately 35 million KRW.

A live commerce program introducing G-Valley companies’ products directly to consumers will also take place. The program will showcase and sell excellent products from G-Valley companies via live broadcast. This year, one travel goods company will sell camping equipment and communicate with consumers. More detailed information about the event schedules, specifics, and participation methods can be found on the official G-Valley blog.

Hwang Bo-yeon, Director of Economic Policy at the Seoul Metropolitan Government, said, “The on-site event after three years will revitalize G-Valley, which has been weakened by COVID-19, and provide an opportunity for companies to make a fresh start.” He added, “Through various corporate events such as export consultation meetings and startup competitions, we will create a platform where G-Valley resident companies can explore overseas expansion, communicate with consumers, and secure new sales channels.”