Products in AI, Medical Devices, and Food... Contracts Worth 18 Billion KRW Signed
Global Expansion Potential Confirmed Through MOUs
Seongnam City in Gyeonggi Province announced on April 28 that it dispatched local companies to the 23rd World Korean Business Convention, held in Atlanta, USA, from April 17 to 20, achieving export consultation results totaling $45.41 million (approximately 65 billion KRW).
An overseas buyer is experiencing a beauty device at the Seongnam City company booth set up at the 23rd World Korean Business Convention. Provided by Seongnam City
The World Korean Business Convention is a major Korean economic event that brings together Korean entrepreneurs from around the world and representatives of domestic small and medium-sized enterprises. This year’s convention was a great success, attracting about 4,000 participants and more than 20,000 visitors.
A total of 24 companies participated in this event, including 12 companies based in Seongnam and 12 resident companies of the Seongnam Business Center (K-SBC) in Fullerton, California. These companies showcased products in various fields such as artificial intelligence (AI), medical devices, beauty, and food. They achieved export consultations worth $32.82 million (about 47 billion KRW) and pursued contracts totaling $12.59 million (about 18 billion KRW). In addition, they confirmed the potential for global market expansion by signing two memorandums of understanding (MOUs) with overseas companies.
In particular, Neurabody, an AI-based spinal care solution specialist led by Lee Eunyeong, signed a business agreement for overseas distribution and sales with John Lerois Consulting, a logistics and export-import consulting firm in Australia, thereby establishing a bridgehead for overseas expansion.
The Seongnam Business Center (K-SBC) exhibition booth set up locally was organized as both an exhibition hall to introduce outstanding products from Seongnam companies and an experience zone where visitors could try out technology-based products. Beauty and healthcare products such as AI scalp scanners and skin diagnostic devices attracted significant attention from visitors and received enthusiastic responses from overseas buyers and attendees.
A representative of a Seongnam company who participated in the convention said, "Thanks to the support from Seongnam City, we were able to meet overseas buyers directly, introduce our products, and explore export opportunities. I hope such support programs, which provide practical help for small and medium-sized enterprises, will continue."
A Seongnam City official stated, "This convention was a great opportunity to promote the excellence of Seongnam's small and medium-sized enterprises to the global market and to prove their global competitiveness. We will continue to actively support participating companies in achieving tangible export results and global marketing."
Meanwhile, Seongnam City is dispatching overseas market development teams, composed of companies that have passed marketability evaluations, to major regions around the world to help local small and medium-sized enterprises enter overseas markets. Through this initiative, the city provides various practical benefits, including 50% support for airfare (for one representative per company), arranging and facilitating meetings with local buyers, support for export consultation venues and group transportation, and on-site interpretation services.
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