Busan City Launches Trade Delegation for Smart Manufacturing SMEs
Aiming to Expand Local Companies' Entry into the Chinese Market
Busan City has entered the Chinese smart manufacturing market and has begun recruiting a trade delegation to pioneer new business opportunities.
On August 10, Busan City announced that, in cooperation with the KOTRA Busan Support Center, it will support local small and medium-sized enterprises (SMEs) in the smart manufacturing machinery and parts sector to expand into China.
The city will be accepting applications until August 14 for companies wishing to join the "China Smart Manufacturing Market Trade Delegation," which will be dispatched to the Tianjin and Shenzhen regions in October.
This trade delegation initiative aims to strengthen the export base and expand sales channels for local companies in response to the expansion of the smart manufacturing market in China. The Chinese government, through its "14th Five-Year Smart Manufacturing Development Plan," has set a goal to digitalize and network more than 70% of manufacturers and to establish over 30,000 intelligent factories, signaling large-scale overseas procurement in related fields.
From October 26 to 30, Busan City plans to send 10 local SMEs to Tianjin and Shenzhen to participate in one-on-one export consultations. Eligible companies are Busan-based SMEs with export sales of $30 million or less in the previous year. Companies wishing to participate must submit an application and evaluation documents through the city's Integrated Overseas Marketing System. The final 10 companies will be selected based on a comprehensive evaluation of product suitability, local market potential, and export capacity, with results to be individually notified at the end of August.
Selected companies will receive benefits including participation in local buyer meetings, interpretation support, 50% airfare subsidy, and admission to the Shenzhen Mega Show. They will visit the exhibition hall on the opening day of the Mega Show, allowing them to experience advanced convergence technologies in the manufacturing industry firsthand and network with the global manufacturing sector. In addition, practical support will be provided for generating tangible business results, such as pre-marketing to buyers through local trade offices, follow-up consultations, and sample inspections.
SMEs or mid-sized companies with export sales exceeding $30 million may also participate in the consultations if buyer matching is achieved, but airfare subsidies will not be provided.
Kim Bongcheol, Director of the Digital Economy Bureau of Busan City, emphasized, "China is a market where competition and opportunity coexist, and local companies with technological strength and credibility have significant growth potential. Busan City will continue to provide systematic support to help local companies achieve results in the global market."
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