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Busan to send the ASEAN trade delegation to Malaysia and Indonesia in July
On May 27, Busan-si and the Busan Economic Promotion Agency announced that they will dispatch the "2025 ASEAN Trade Delegation" to Malaysia and Indonesia for six days, starting on July 28.
The decision to send the trade delegation follows the results of a "U.S. Tariff Policy Response Survey" conducted by Busan-si last month.
According to the survey, Busan-based companies identified supply chain reorganization and new market development as their main strategies for responding to challenges.
In response, the city decided to support companies entering the "Global South," a region referred to as third-world or developing countries in the past.
The ASEAN trade delegation project is a strategic overseas marketing initiative designed to assist small and medium-sized Busan consumer goods companies in expanding their local sales channels and increasing exports.
The main goal of this year’s initiative is to target Southeast Asia, particularly Malaysia and Indonesia, which have become known as key emerging markets in the Global South.
The delegation will include 10 Busan-based SMEs with exports under USD 30 million in the previous year, who will engage in export consultations and meetings with buyers.
The city will provide substantial support to participating companies, covering 50% of round-trip airfare, local transportation, costs for setting up consultation venues, interpretation services, and others.
Companies interested in joining the delegation can apply by June 5th through the Busan City's Overseas Marketing Integrated System (trade.bepa.kr).
wink@yna.co.kr
Source Text
** This article was translated from Korean.
Date
2025.06.10
Views
30
According to Yonhap News,
On May 27, Busan-si and the Busan Economic Promotion Agency announced that they will dispatch the "2025 ASEAN Trade Delegation" to Malaysia and Indonesia for six days, starting on July 28.
The decision to send the trade delegation follows the results of a "U.S. Tariff Policy Response Survey" conducted by Busan-si last month.
According to the survey, Busan-based companies identified supply chain reorganization and new market development as their main strategies for responding to challenges.
In response, the city decided to support companies entering the "Global South," a region referred to as third-world or developing countries in the past.
The ASEAN trade delegation project is a strategic overseas marketing initiative designed to assist small and medium-sized Busan consumer goods companies in expanding their local sales channels and increasing exports.
The main goal of this year’s initiative is to target Southeast Asia, particularly Malaysia and Indonesia, which have become known as key emerging markets in the Global South.
The delegation will include 10 Busan-based SMEs with exports under USD 30 million in the previous year, who will engage in export consultations and meetings with buyers.
The city will provide substantial support to participating companies, covering 50% of round-trip airfare, local transportation, costs for setting up consultation venues, interpretation services, and others.
Companies interested in joining the delegation can apply by June 5th through the Busan City's Overseas Marketing Integrated System (trade.bepa.kr).
wink@yna.co.kr
Source Text
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Source: Yonhap News (May 27, 2024)
** This article was translated from Korean.