Korea Federation of SMEs Participates in the 51st Los Angeles Korean Festival

Support for Overseas Expansion of K-Food and Beauty SMEs

The Korea Federation of Small and Medium Business (Kbiz) announced on the 29th that it participated in the "51st Los Angeles Korean Festival," which opened at the Seoul International Park in Los Angeles, USA.

The festival, held from the 26th to the 29th local time under the auspices of the Los Angeles Korean Festival Foundation, has been held since 1974. According to the official count by the LA Fire Department, it is the largest multicultural festival in the western United States, attracting over 400,000 attendees.

Kim Ki-moon, Chairman of the Korea Federation of SMEs, is delivering a congratulatory speech at the 51st Los Angeles Korean Festival.

This year, considering the increased local interest in Korean products fueled by the Korean Wave, a record number of about 290 booths were operated. This is expected to serve as an opportunity to revitalize the entry of domestic companies into the U.S. market.

Kbiz set up an exhibition booth together with Home & Shopping, carefully selecting and promoting popular beauty and food products in the U.S., supporting their sales.

Following the Korean Festival, Kbiz plans to visit Atlanta to check the preparation status for the "1st Korean American Business Conference in the Americas," scheduled to be held in April next year, and discuss concrete measures for the successful hosting of the event and the globalization of small and medium enterprises.

Kim Ki-moon, Chairman of Kbiz, said, “Most of the popular K-food and K-beauty products overseas are made by specialized small and medium enterprises, and many products sold under large corporate brands are produced by SMEs as OEMs,” adding, “We plan to support the globalization of SMEs by utilizing overseas Korean networks not only in the U.S. but also around the world.”