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DGMC hosted 2020 Online Trade Fair for Textile-Industry Machinery on Dec 1-2
Daegu-Gyeongbuk Machinery Cooperative (DGMC) celebrated its achievement, KRW 5.5 billion worth of preliminary contractual agreements to strike a trade deal among the event participants who’ve attended 2020 Online Trade Fair for Textile-Industry Machinery, held on Dec 1-2. The two day event, which aims to help local businesses engage in live, interactive digital business matching platform with global buyers, took place at the presence of 13 Russian local buyers and 10 small businesses in textile, machinery and LED display/ lighting industries in Korea. Russia is a crucial business partner which has long been and will be playing a pivotal role in the implementation of S. Korea’s recently announced New Northern Policy, one of key strategic economic initiatives to build international coalitions to boost growth and prosperity. With its growing importance of the role, businesses in Korea have begun keeping an eye on this emerging market.
Increasing need for replacing old machines in textile industry, coupled with the authority-led manufacturing renaissance campaign which drives up the demand for industrial machines in Moscow is another opportunity factor for manufacturers and vendors in Korea. A DGMC official said “We’ll provide an aftercare service even when the show comes to an end, not to make the trade fair a one-off event.”
sunhyung@yna.co.kr
** This article was translated from Korean.
Date
2020.12.17
Views
310
According to Yonhap News,
Daegu-Gyeongbuk Machinery Cooperative (DGMC) celebrated its achievement, KRW 5.5 billion worth of preliminary contractual agreements to strike a trade deal among the event participants who’ve attended 2020 Online Trade Fair for Textile-Industry Machinery, held on Dec 1-2. The two day event, which aims to help local businesses engage in live, interactive digital business matching platform with global buyers, took place at the presence of 13 Russian local buyers and 10 small businesses in textile, machinery and LED display/ lighting industries in Korea. Russia is a crucial business partner which has long been and will be playing a pivotal role in the implementation of S. Korea’s recently announced New Northern Policy, one of key strategic economic initiatives to build international coalitions to boost growth and prosperity. With its growing importance of the role, businesses in Korea have begun keeping an eye on this emerging market.
Increasing need for replacing old machines in textile industry, coupled with the authority-led manufacturing renaissance campaign which drives up the demand for industrial machines in Moscow is another opportunity factor for manufacturers and vendors in Korea. A DGMC official said “We’ll provide an aftercare service even when the show comes to an end, not to make the trade fair a one-off event.”
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sunhyung@yna.co.kr
Source: Yonhap News (Dec 3, 2020)
** This article was translated from Korean.