DEVICE MAKERS GEAR
UP TO ENTER THE
From August 8 to 10, the Florida
International Medical Expo (FIME) 2017
was held in Orlando, Florida. At the event,
KOTRA launched the Korean Pavilion,
consisting of 46 Korean small and medium medical device manufac-turers.
Welcoming 1,650 exhibitors from over 40
countries, the largest medical trade fair
across the Americas offered networking
opportunities for global buyers and Korean
suppliers wanting to enter the North,
Central and South American markets. KOTRA
hosted seminars and side events including an exhibition showcasing
Korea’s cutting-edge products, which
were well-received by local buyers.
The United States is the world’s largest
medical device market valued at about
USD 149.1 billion (KRW 159.9 trillion) as
of 2015. Demand for medical devices has
been steadily growing in Latin America,
due to its aging demographics and rising
income as well as the expansion of large-scale hospital construction projects.
JOB FAIRS HOSTED IN
On August 9, KOTRA kicked off a
major job fair in Australia and New
Zealand. During the event, Korean job
seekers were able to engage in video job interviews and find jobs
in the wider Oceania region. The job fair
was also comprised of informative seminars on visa issues, employment processes
and strategies to land a job overseas.
Around 270 Korean jobseekers attended
the event, and a total of 88 job vacancies from 40 companies
were available at the
According to officials, Australian companies were highly interested in Korean
applicants. Such a high demand for
Korean workforce was attributed to
Asia’s growing population, the surge in
global popularity of Korean culture and
the high reputation of Korea’s workforce.
Currently, there are over 22,000 Koreans
who are working in Australia as part of the
working holiday program.
NICHE MARKETS FOR
On August 16 and 17, KOTRA held a
series of seminars and consultation sessions on entering the overseas online and
offline retail market. To find a niche market and increase exports of consumer
goods, the agency invited buyers from
China, 25 major vendors from Oceania
and 150 Korean small and medium enterprises (SMEs) to its Seoul headquarters.
The event provided opportunities for
domestic SMEs to deepen their under-standing of the retail markets in China and
Oceania and explore new business partners. The seminars consisted of
informative sessions about rising consumer trends
and popular Korean products, including
“Despite rosy prospects for China and
Oceania markets, their potential is yet to
be discovered by Korean companies,” said
Dooyoung Kim, KOTRA’s executive vice
president for strategic business. He
explained that KOTRA will continue to
explore new prospective markets and
strengthen networking with local distribution
chains so that Korean suppliers can
make inroads into new markets.
KOTRA COMMISSION ON
JOB CREATION SETS SAIL
KOTRA launched the Committee on
Job Creation consisting of 20 executive
members, union representatives and
heads of overseas offices. Under the leadership of President and CEO Jaehong
Kim, the Commission held its first meeting on August 17 where its key direction
and major agendas were mainly discussed.
Officials announced that KOTRA
needs to press with its plan to create
110,000 direct job opportunities by helping SMEs find talent and export
opportunities. Various ideas were also shared on
how KOTRA can take full advantage in
the fields of market entry and investment
promotion to create more jobs. KOTRA
predicts that over 1 million jobs can be generated
in the next five years through
its existing export assistance services, and
plans to develop its own performance
metrics to make progress.
In line with the new administration’s
economic agendas focusing on tackling
unemployment, Jaehong Kim stated that the
agency will make efforts not only to boost
direct employment but also to build an
export-friendly business environment.
“We need to take bold action to share
information with the private sector and
carry out more public-private joint projects. The Commission will play a crucial
role in transforming the agency from a
global business platform into a global
platform for job creation,” said Kim.