KOTRA Holds Consultation Meeting in Shanghai to Expand Consumer Goods Exports to China

Purpose of Targeting the Chinese Premium Consumer Goods Market

The Ministry of Trade, Industry and Energy and KOTRA held the 'K-Lifestyle in Shanghai' event on the 23rd in Shanghai, China, to expand exports of consumer goods to China. As part of the government's 'Measures to Revitalize the Livelihood Economy through Exports and Investment' announced last January, this event aimed to target the premium consumer goods market that aligns with Chinese consumption trends.

The 'K-Lifestyle in Shanghai' consultation event held on the 23rd in Shanghai, China, by the Ministry of Trade, Industry and Energy and KOTRA to expand consumer goods exports to China /
[Photo by KOTRA]

This event consisted of ▲K-Consumer Goods Power Seller Offline Export Consultation ▲Korea-China Consumer Goods Business Cooperation Forum ▲K-Consumer Goods Excellent Product Sample Exhibition Showcase ▲Corporate Consulting for Obtaining Chinese Certification for K-Consumer Goods.

At the export consultation meeting attended by 100 major Chinese buyers and 98 Korean companies, enthusiastic online and offline consultations took place. Through this project, a total of about 50 promising export projects are expected to achieve results this year, among which maternity product company T signed an export contract worth approximately 2.3 million dollars on site. The business forum discussed strategies necessary to target the Chinese premium consumer market, including this year's outlook on the Chinese economy and the changing Korea-China trade environment.

Geng Yifei, General Manager of the Chinese power seller distribution platform 'YI Beauty & Lifestyle (BEAUTY&LIFESTYLE)', explained, "In the past, Korean consumer goods were centered on beauty, but now they have expanded to fields such as food and health functional foods with product competitiveness in line with Chinese consumer trends such as health and cost-effectiveness," adding, "Products with clear differentiation attract great consumer interest."

Hwang Jaewon, Head of KOTRA's China Regional Headquarters, emphasized once again the importance of the Chinese market as a market that Korean companies must not miss in export business, saying, "Although competition in the Chinese consumer goods market is becoming increasingly fierce, there are still many buyers looking for premium products that have brand competitiveness and grow in Korea and third countries."