Mayor Shin Sangjin: "K-SBC Will Serve as a Stable Bridgehead for Entry into the US Market"

Seongnam Business Center in the US Achieves Visible Export Results
Supported Entry of 127 Companies into the US Market in Six Months
Promoted Export Contracts Worth 113.3 Billion Won

Seongnam City in Gyeonggi Province (Mayor Shin Sangjin) announced on June 30 that it is actively supporting local small and venture businesses in entering the US market through the Seongnam Business Center (K-SBC), which is operated in Fullerton, Orange County, USA, and that these efforts have led to tangible export results.

Seongnam Mayor Shin Sangjin and officials are attending the opening ceremony of the Seongnam Business Center (K-SBC) in Fullerton, USA, on June 27, 2023. Provided by Seongnam City

Over the past six months, the center has supported 127 companies in expanding into the US market, resulting in contract negotiations totaling approximately 113.3 billion won (79.374 million dollars).

K-SBC, which opened in June 2023 and is celebrating its second anniversary this year, is the only comprehensive export support center established overseas by a basic local government in Korea. The center features a corporate exhibition hall, product sales area, and shared office space, and is currently exhibiting and selling products from about 30 companies, including those in the K-beauty and advanced technology sectors.

Key achievements in the first half of this year include: 10 companies entering Amazon, 50 companies participating in online and offline exhibitions, 43 companies involved in local exhibitions and buyer invitation events, 12 companies receiving overseas certification and corporate establishment consulting, 10 companies provided with shared office and liaison office services, and 2 companies receiving logistics support.

In addition, the center participated in the 23rd World Korean Business Convention held in Atlanta, USA, in April, promoting the technological capabilities and competitiveness of its resident companies. It also plans to continuously create opportunities for local market expansion and export consultations through in-house events such as the "Senior & Wellbeing Living Consultation Fair" in June and the "Seongnam Black Friday Fair" in November.

Mayor Shin Sangjin stated, "We will continue to provide practical support for overseas expansion so that K-SBC can serve as a stable bridgehead for entering the US market," and added, "We aim to support more than 50 additional companies within this year to further expand our export achievements."

The Seongnam Industry Promotion Agency plans to further expand K-SBC's impact by securing additional exhibition space and strengthening cooperation with private professional organizations, thereby enhancing its export support and K-product exhibition functions.

Meanwhile, K-SBC is operated by the Seongnam Industry Promotion Agency and offers a variety of programs to build a global network and support local marketing, including overseas certification and corporate establishment consulting, provision of business space, networking opportunities, and support for participation in renowned overseas exhibitions.