Dispatch of Market Development Team to New Delhi and Chennai
Six Companies Sign MOUs Worth 6.5 Million Dollars
Expansion of Cultural Exchange and Networking
Jeollanam-do, together with KOTRA Gwangju Jeonnam Support Group, dispatched a market development team to New Delhi and Chennai, India for five days until the 7th to explore business expansion opportunities. Provided by Jeonnam Province
Jeollanam-do, together with KOTRA Gwangju-Jeonnam Support Group, dispatched a market development team to New Delhi and Chennai, India, for five days until the 7th. The team attracted significant interest from local buyers and achieved a total of $6.5 million (5 cases) in MOUs. The market development team included five companies from the industrial goods sector and one company from the cosmetics sector.
The participating companies were selected based on the potential to discover buyers and their export readiness. To maximize export opportunities, at least two matchmaking sessions were held with potential buyers starting one month prior to the business meetings.
Park Cheolju, Jeollanam-do's Ambassador for International Relations, accompanied the market development team to provide customized support for each company and to strengthen cooperation with major buyers and government officials. This helped participating companies conduct negotiations more smoothly and facilitated the signing of practical contracts. Efforts were also made to build networks with local distribution channels and relevant organizations to raise brand awareness of Jeollanam-do products.
During the business meetings, six small and medium-sized enterprises from Jeollanam-do held a total of 115 business consultations with local buyers, amounting to $26 million. Of these, export MOUs worth $6.5 million were signed.
The team also visited local markets in India to directly assess the export potential of Jeollanam-do products. Ambassador Park Cheolju visited the Korean Cultural Center in New Delhi to discuss ways to cooperate on cultural exchange. The meeting focused on expanding cultural cooperation between Korea and India and promoting Jeollanam-do's cultural and tourism resources.
Ambassador Park Cheolju stated, "We will strive to ensure that Jeollanam-do's excellent culture and content receive attention in the Indian market through cooperation with the Korean Cultural Center."
Shin Hyungon, Director of International Cooperation for Jeollanam-do, emphasized, "Through this Indian market development team's activities, we have laid the foundation for local SMEs to enter the market. We will continue to strengthen follow-up management to ensure that the signed MOUs and contracts lead to actual exports."
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