Gwangju FTA Promotion Center Supports Local Companies' Entry into Southeast Asia

Exterior view of Gwangju Chamber of Commerce and Industry.

The Gwangju Chamber of Commerce and Industry announced on June 6 that the Gwangju FTA Trade Promotion Center dispatched the "West Sea·Jeju FTA Center Philippine Market Development Delegation" to Cebu, Philippines, from May 26 to 30 to support promising small and medium-sized enterprises (SMEs) in the Gwangju region seeking entry into the Philippine market, thereby initiating a full-scale effort to expand exports to Southeast Asia.

This market development delegation included three promising SMEs from the Gwangju region?FIT Co., Ltd., Yurim Confectionery, and Organic Maru Co., Ltd.?as well as a total of 15 companies from five regions: Jeonnam, Jeju, Incheon, and Chungnam. The program featured one-on-one export consultations with local buyers, local market research, and special promotional events for outstanding products. In addition, there was active practical discussion on signing MOUs for exports and follow-up procedures through ongoing networking with local distributors and buyers.

Cebu, Philippines, is an emerging consumer market where demand for Korean products has been rapidly increasing, and competitive product categories based on the Korean Wave?such as beauty, food, and daily necessities?are attracting significant attention across various sectors.

The Gwangju FTA Trade Promotion Center has been recognized for significantly enhancing the potential for local companies to enter the market by conducting preliminary market research and providing comprehensive support for export consultations, including customized buyer matching and interpretation and translation services tailored to the characteristics of participating companies' products. In fact, companies from the Gwangju region confirmed purchase intentions worth approximately USD 240,000 (about KRW 330 million) on site and achieved tangible results, such as signing an MOU worth USD 10,000 and initiating follow-up discussions related to exports.

Kang Jobyung, Director of the Gwangju FTA Trade Promotion Center, stated, "Through the dispatch of this market development delegation, we have confirmed the potential of the Southeast Asian market and achieved two key outcomes: establishing a practical foundation for diversifying regional companies' exports." He added, "We will actively support the sustainable export expansion of local companies through follow-up consultations and by connecting logistics, certification, and marketing, and we also plan to explore expansion into neighboring markets such as Malaysia and Vietnam."