Korea SMEs and Startups Distribution Center Achieves $16.72 Million Export Consultation Results at K-Expo

The Ministry of SMEs and Startups and the Korea SMEs and Startups Distribution Center announced on the 18th that they achieved export consultation results worth $16.72 million (approximately 23.5 billion KRW) by participating in the '2024 Indonesia K-Expo' held in Jakarta, Indonesia from the 14th to the 17th.

The K-Expo is a comprehensive Hallyu event organized jointly by government ministries to promote overseas co-export of K-content and related consumer goods and service products. This year marked its third edition, held twice in two countries: France and Indonesia.

The scene of the '2024 Indonesia K-Expo' held in Jakarta, Indonesia. Provided by Korea SMEs and Startups Distribution Agency

The 2024 Indonesia K-Expo was co-hosted by five ministries: the Ministry of Culture, Sports and Tourism, the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Trade, Industry and Energy, the Ministry of Oceans and Fisheries, and the Ministry of SMEs and Startups. It was jointly organized by seven institutions: the Korea Creative Content Agency, the Korea Sports Promotion Foundation, the Korea Agro-Fisheries & Food Trade Corporation, the Korea Trade-Investment Promotion Agency, the Korea Institute of Design Promotion, the Korea SMEs and Startups Distribution Center, and the Korea International Trade Association.

To facilitate the overseas expansion of content and related consumer goods industries, a B2B export consultation meeting was held over two days, the 14th and 15th, at the Sheraton Grand Gandaria City Hotel in Jakarta. During this event, 86 domestic SMEs and 298 local buyers (including duplicates) met, resulting in 1,253 business matchings.

Among them, 16 excellent small consumer goods companies discovered and evaluated by the Ministry of SMEs and Startups and the Korea SMEs and Startups Distribution Center met with 71 local buyers, achieving 204 business matchings, $16.72 million (approximately 23.5 billion KRW) in export consultation amounts, a projected future contract amount of $5.71 million (approximately 8 billion KRW), and 5 on-site MOUs.

In particular, Altist Co., Ltd., which is seeking export routes to the Southeast Asian region with its 'allulose instead of sugar' product certified by Korea Halal, achieved a significant result by signing an on-site MOU worth a total of $700,000 with two local buyers through B2B export consultations.

Lee Tae-sik, CEO of the Korea SMEs and Startups Distribution Center, stated, “We promise unwavering support for overseas market expansion of excellent domestic small consumer goods companies,” and added, “We will continue to operate various support projects that can be tangibly felt.”