Yeongju City Hosts Export Consultation Meeting Inviting Overseas Buyers... 38 Export Companies and 40 Overseas Buyers from 7 Countries Participate

Over 150 Export Consultations, $6.9 Million Export Agreement Signed

Online and Offline Consultations... Chinese Wanghong Live Commerce

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Gwiyeol] Thirty-eight agricultural and specialty product manufacturing companies in Yeongju, Gyeongbuk, concluded 153 export consultations worth $16 million and export agreements worth $6.9 million at the export consultation meeting hosted by Yeongju City, inviting overseas buyers.

Including the $11 million export agreement achieved at the Ginseng Trade Center during the Punggi Ginseng Expo until the 7th, the total achievement amounts to $17.9 million.

Yeongju City held the 'Overseas Excellent Buyer Invitation Export Consultation Meeting' for two days from the 6th to the 7th on the second floor conference room of the Punggi-eup Administrative Welfare Center, achieving these results.

This export consultation meeting was linked to the 2022 Yeongju World Punggi Ginseng Expo, which runs until the 23rd, and featured inviting overseas buyers to Korea to meet directly with local companies for export consultations, thereby enhancing mutual trust.

To overcome the difficulties of direct meetings due to COVID-19 and to rebuild networking between purchasing-powerful overseas excellent buyers and local companies, the invitation consultation method was adopted.

At the consultation meeting, 38 agricultural specialty product manufacturing companies from Yeongju, producing ginseng, apples, and silk fabric, participated along with 40 overseas buyers from four countries including China and Malaysia. Through prior matching, one-on-one online and offline export consultations were conducted between confirmed overseas buyers and participating companies.

The event began with an opening ceremony on the 6th. On the first day, 20 companies from Malaysia, Singapore, Mongolia, and other countries participated in an offline export consultation on-site, resulting in 99 consultations worth $12 million and export agreements worth $5.4 million.

On the second day, 20 Chinese companies participated in an online video consultation, achieving 54 consultations worth $4 million and export agreements worth $1.5 million.

During this consultation, a famous influencer Wanghong, who has significant influence on Chinese consumers' online purchases, was invited to simultaneously conduct live commerce broadcast promotional marketing for products from 12 local export companies, which is expected to boost entry into the Chinese market.

Sobaek Ginseng Agricultural Cooperative Corporation (Manager Kang Jin-seon, far right) signed a $1 million export agreement with a Malaysian buyer (first on the left).

Kang Jin-seon, manager of Sobaek Ginseng Agricultural Cooperative Corporation, who participated in this consultation, said, "We have faced many difficulties entering the Malaysian market over the past few years, so being able to conduct export consultations on-site like this is very satisfying," adding, "Starting with this export contract, we will make great efforts to expand sales channels not only in Malaysia but also in the Southeast Asian market."

Park Nam-seo, mayor of Yeongju City, said, "We expect this export consultation meeting to be an opportunity for local export companies to overcome difficult conditions and challenge overseas expansion," and added, "We will devise practical measures to ensure that the consultation results do not remain one-time but lead to continuous exchanges."