KOTRA Holds 'Trade Consultation' in Poland Aligned with President Yoon's Visit

Achieved Contract Promotion Amount of Total 8.43 Million USD

The Korea Trade-Investment Promotion Agency (KOTRA) held the ‘Korea-Poland Trade Consultation Meeting’ on the 14th in Warsaw, Poland, coinciding with President Yoon Suk-yeol’s visit to Poland.

This trade consultation meeting was organized as a one-on-one business consultation between companies to discover strategic economic cooperation opportunities between the two countries. A total of 20 Korean companies, including 7 in infrastructure and projects, 7 in machinery, parts, and equipment, and 6 in consumer goods, held 93 business consultations with about 70 Polish companies, achieving a contract promotion amount of $8,429,200. New partnership opportunities were sought through business issues that run through Poland, such as Ukraine reconstruction, energy transition, and the Korean Wave.

Poland is the largest investor from Korea among the Visegr?d Group (V4) countries in Central Europe (Slovakia, Czech Republic, Poland, Hungary). It is increasing cooperation with Korea in trade and investment. Recently, as the security and trade environment surrounding the European Union (EU) and Central and Eastern Europe has changed, cooperation opportunities between the two countries are growing in new industries such as Polish infrastructure, low-carbon energy, defense, and information and communication technology (ICT). The scale of Korea-Poland trade reached record highs consecutively in 2021 and 2022.

The view of the venue for the 'Korea-Poland Trade Consultation Meeting' held by KOTRA on the 14th in Warsaw, Poland / Photo by KOTRA

KOTRA stated that during this consultation meeting, many discussions were held to enhance cooperation possibilities in high value-added industries with high potential for joint entry into third countries, including machinery, equipment, parts and construction, and infrastructure sectors. It also explained that, amid Poland’s active participation in the EU’s low-carbon energy policy, leading domestic construction and engineering companies sought mid- to long-term cooperation plans with Polish partners.

Air sterilization platform company A secured a foothold to expand into the EU market through buyers met at this consultation meeting. The Polish partner company showed enthusiasm by purchasing samples from company A on site. N, which has sparked a Korean Wave in food through global distribution companies such as Costco and Carrefour, achieved results by agreeing to sign a memorandum of understanding (MOU) with Polish buyers on site.

KOTRA President Yoo Jung-yeol said, "Poland is a country with a sizable domestic market, a favorable geopolitical location, and a government actively promoting investment attraction, realizing dynamic economic growth even within the EU," adding, "I believe that opportunities for cooperation between companies will diversify in the future." He continued, "We will actively support the expansion of our companies’ entry into Poland and Central and Eastern Europe through systematic follow-up support after this consultation meeting."