Eight Companies Participate... Eluo Co., Ltd. Signs MOU
Jung Myung-geun, Mayor: "Supporting Entry into Challenging Markets"
Hwaseong City in Gyeonggi Province announced on the 11th that the 'Hwaseong City South Asia Market Development Team,' launched as the first overseas business dispatch project of the year, achieved 160 consultation cases in India.
Representatives of companies participating in Hwaseong City's South Asia Market Development Team, who held export consultation meetings in New Delhi and Chennai, India, are taking a commemorative photo on site. Provided by Hwaseong City
Eight small and medium-sized enterprises from the city participated in this market development team, organized by the city and the Hwaseong City Export Support Center, and held export consultation meetings in New Delhi and Chennai, India, for six days and four nights from the 3rd to the 8th.
The city explained that India was designated as the first country for the market development team this year considering its high economic growth rate and population of 1.425 billion, establishing itself as a hub of the global economy. The city also added that the steady increase in trade volume between the two countries due to the Korea-India Comprehensive Economic Partnership Agreement (CEPA) was another reason.
The participating companies conducted a total of 160 consultations through export meetings held in the two regions. In particular, Eluo Co., Ltd., a cosmetics company, achieved the signing of one Memorandum of Understanding (MOU) with a local buyer. Park Yoo-seok, CEO of Eluo Co., Ltd., said, "Through this market development team, we were able to confirm the potential for developing the South Asian market," adding, "We especially thank Hwaseong City, the Hwaseong City Export Support Center, and KOTRA for helping us gain opportunities to expand export channels through the MOU signing."
Jung Myung-geun, mayor of Hwaseong City, said, "We will continue to actively support companies to pioneer markets that are difficult to enter independently," and added, "Through this, we hope Hwaseong City companies can expand further into various parts of the world."
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