Announcement of 4 Additional Participants in Materials, Parts & Equipment, Construction & Machinery, Smart Farm, and Consumer Goods Sectors
[Asia Economy Reporter Park Sun-mi] The Korea International Trade Association (KITA) announced on the 13th that it has confirmed four additional companies to join the economic delegation accompanying President Yoon Suk-yeol on his visit to the United Arab Emirates (UAE). The additional participating companies are LS Cable & System, Susan Group, Olle Farm, and Korea Kolmar.
This economic delegation, dispatched for the first time since President Yoon Suk-yeol took office, consists of a total of 101 companies. These include 25 large corporations (including market-type public enterprises), 69 small and medium-sized enterprises and mid-sized companies (68.3% of the participating companies), and 7 economic organizations and associations. Following the initial announcement of participating companies in the UAE high-level diplomatic economic delegation on the 10th, KITA conducted a second recruitment round due to a flood of inquiries and additional participation requests from domestic companies.
No financial support is provided to participating companies, and all expenses such as airfare and accommodation are fully borne by the participating companies. This economic delegation was formed to support Korean companies’ entry into the UAE and Middle Eastern markets and to strengthen private economic cooperation between the two countries. A KITA official stated, "Various events will be held locally, including the Korea-UAE Business Forum and the signing of an economic cooperation MOU (hosted by KITA), as well as business consultations (hosted by KOTRA), to discuss concrete cooperation plans with UAE businesspeople and provide opportunities to build networks among businesspeople."
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