Ministry of SMEs and Startups Successfully Holds Export Consultation Meeting in Collaboration with Lotte
80 Overseas Buyers and 80 SMEs and Small Business Owners Participate
At the Donghaeng Festival, the largest promotional event for small and medium-sized enterprises (SMEs) and small business owners held overseas for the first time, domestic companies achieved export results worth $12.88 million.
The Ministry of SMEs and Startups announced that the 'September Donghaeng Festival' export consultation held in Hanoi, Vietnam, from 11 a.m. to 6 p.m. on the 29th (local time), in collaboration with Lotte Mart, recorded a total consultation performance of $12.88 million (approximately 17.1 billion KRW).
At this export consultation event, 80 domestic SMEs and small business owners hoping to pioneer the ASEAN market showcased K-beauty products such as essences and cushions, K-food, and daily necessities to 80 local buyers from six countries (Vietnam, Thailand, the Philippines, Malaysia, Singapore, and India).
The 'September Together Festival' export consultation, jointly organized by the Ministry of SMEs and Startups and Lotte in Hanoi, Vietnam, is taking place. (Photo by Ministry of SMEs and Startups)
A total of 420 consultations were conducted that day, and six companies (worth $250,000) achieved immediate business agreement results on-site.
In particular, ViewLab Korea, which introduced its Water Barrier Sunscreen product, succeeded in signing a preliminary export contract worth $530,000 with a Vietnamese buyer, demonstrating notable results.
Park Min-cheol, CEO of SP Company (manufacturer of Baby Cool cooling mats), who signed a business agreement with Lotte Mart’s local corporation in Vietnam, said, “Through this Donghaeng Festival, we have been able to enter the local Lotte Mart in Vietnam,” and added, “I hope more SMEs and small business owners will be given opportunities to pioneer overseas markets.”
Lee Jung-hoon, head of the Domestic Demand Activation Promotion Team at the Ministry of SMEs and Startups, said, “Several buyers, including those headquartered in Singapore, came to see Korean beauty products and showed great interest on-site,” adding, “Through this consultation, we were able to directly confirm the export capabilities of our products.”
Meanwhile, prior to the export consultation, the Ministry of SMEs and Startups held an opening ceremony in Hanoi, Vietnam, for the first time since the Donghaeng Festival began, and will operate a pop-up store and promotional events for excellent small business owners on the first floor and basement level 1 of Lotte Mall West Lake for seven days.
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