Gwangju Buk-gu, Overseas Market Development in 'Indonesia and Singapore'

Dispatch of Pioneer Group from 4th to 8th... $10.85 Million Export Contracts
Korean-American Chamber of Commerce MOU and Online Mall Entry Contract Achievements Also

The Buk-gu Overseas Market Development Team of Gwangju City is taking a commemorative photo after signing an MOU promising mutual economic exchange and cooperation with the World Korean Trade Association Singapore Branch in Singapore. Photo by Buk-gu

Gwangju Buk-gu has leveraged its sales diplomacy experience and know-how to expand export markets and diversify overseas sales channels for small and medium-sized enterprises (SMEs).

According to Buk-gu on the 10th, the 'Overseas Market Development Team' achieved results such as signing export contracts worth $10.85 million, conducting export consultations worth $25.47 million, and securing contracts to enter major online malls during a five-day trip from the 4th to the 8th in Indonesia and Singapore.

The Overseas Market Development Team was organized in close cooperation with the KOTRA Gwangju-Jeonnam Support Group to diversify export markets for SMEs. Ten promising local SMEs with excellent technology and competitiveness in consumer goods such as ▲medical devices ▲food ▲beauty participated.

The team, operating in Surabaya, Indonesia, and Singapore, held a 'Buyer Invitation Export Consultation' locally and promoted the products of participating companies, resulting in signing export contracts worth $10.85 million and export consultations worth $25.47 million.

Additionally, in Singapore, an MOU was signed with the 'World Korean Trade Association Singapore Chapter' to pledge mutual economic exchange and cooperation. Four companies with competitiveness in the online market among the participants also secured contracts to enter major online malls such as Shopee. Furthermore, the team visited the 'East Java Investment Board' in Indonesia to discuss various cooperation matters necessary for entering the East Java market, considered the economic core of Java Island.

Moon In, the mayor of Buk-gu, stated, "Through this dispatch of the Overseas Market Development Team, we were able to reaffirm the overseas market entry competitiveness of our local SMEs. We will continue to do our best to diversify overseas sales channels by actively reflecting the opinions of small business owners."

Meanwhile, in March, Buk-gu operated the 'Gwangyung Trade Promotion Team' targeting the U.S. markets such as LA and San Diego, achieving export contracts worth a total of $10 million.