KOTRA Hosts Beijing Online Export Consultation... Over 30 Participants Including 500 Major Chinese Companies

Held from 28th to 30th... Linked with December's 'Boomup Korea Export Consultation'

[Asia Economy Reporter Moon Chaeseok] KOTRA announced on the 27th that it will hold an online consultation event called 'Boom Up Korea in China, Beijing,' with about 30 companies participating, including 'Eternal Asia Supply Chain Management,' a promising electric vehicle buyer among China's top 500 companies.

The consultation event will be held for three days starting the next day. The consultations will focus on Korea's key export industries such as materials, parts, equipment, IT products, and services. It will be linked with the large-scale export consultation event 'Boom Up Korea,' which KOTRA will hold at COEX in Gangnam-gu, Seoul, on the 1st and 2nd of next month. Due to China's 'Zero COVID' quarantine policy, it has been difficult to bring buyers into Korea, so the event is inevitably being held separately as an online preliminary event.

Korean companies participating in the 'Boom Up Korea in China' event have consistently pursued the Chinese export market even during the height of the COVID-19 pandemic. This indicates how urgent exports to China were. It also proves the high value of the event.

At the event, Korean valve parts manufacturer Company A will sign a business agreement (MOU) worth $1.5 million (about 2 billion KRW) with Chinese partner Company J. Company J will additionally expand the supply destinations for valves and piping that were exported to China. A representative of Company A said, "Thanks to the competitiveness of our products and KOTRA's support, even though we couldn't make a single business trip during COVID, China became our number one export country," adding, "We plan to expand cooperation with our Chinese partner through this event and increase exports to China by about 50% next year compared to this year."

Domestic data solution company Company B will also sign an MOU worth $2 million (about 2.7 billion KRW) with Chinese partner Company H. Company H will act as a strategic partner to help Company B grow in the Chinese market.

Hong Changpyo, head of KOTRA's China regional office, said, "We prepared the Boom Up Korea in China project to revitalize difficult Korea-China business due to COVID-19," and added, "We expect cooperation between Korean and Chinese companies in key industries to strengthen through this project, and we plan to continue support projects."

KOTRA plans to continue domestic and international online consultation events until the end of the year after the 'Boom Up Korea' event, accelerating the 'Export Plus' project.