KOTRA Signs 23.6 Billion KRW Contracts at 'Mid-sized Companies Export Booster Consultation'

President Kang Kyung-sung "Record High Export Target"

KOTRA announced that it held the 'Mid-sized Enterprises Export Booster Consultation' on the 19th at Lotte Hotel World in Songpa-gu, Seoul, together with the Ministry of Trade, Industry and Energy.

This consultation was organized to review the annual support achievements for domestic mid-sized enterprises and world-class product certified companies, and to provide new trading opportunities with global buyers.

On the day, about 70 purchasing-powerful global buyers participated, including Ford (U.S. automobile), Stellantis (U.S. automobile), and Marui Department Store (Japan consumer goods). They showed great interest in the technological capabilities of Korean materials, parts, and equipment companies, as well as various premium consumer goods such as food and cosmetics. Active consultations also continued in the medical, bio, and ICT sectors.

At this consultation, the demand from global buyers aiming to diversify supply chains concentrated in specific countries was prominent. A representative from U.S. Company A stated, "Considering the U.S. government's tariff policies on China, we are planning to diversify and expand our supply chains," adding, "We attended this consultation to secure Korean mid-sized enterprises with technological capabilities and delivery capacity as suppliers, reducing dependence on China and India."

At the consultation, 9 domestic companies and 11 buyers signed a total of 11 export contracts and MOUs worth $16.95 million (approximately 23.6 billion KRW). The 16 companies supported annually by KOTRA are expected to sign a total of 62 export contracts and MOUs worth about $600 million (approximately 836.1 billion KRW) by the end of the year.

KOTRA also held the 'Mid-sized Enterprises New Business Transition Support Forum and Consultation' to explore export and overseas expansion opportunities for mid-sized enterprises. This forum, attended by about 100 participants including small and mid-sized enterprises and related organizations, reviewed future trends in manufacturing and discussed strategies for new business entry through overseas M&A.

Kang Kyung-sung, President of KOTRA, said, "We will do our best to enhance export vitality by the end of the year and achieve record-high exports through support for mid-sized enterprises and world-class product companies with excellent technology and products."