Invest KOREA

KOTRA·KOMEA participated in NEVA 2021, Russia’s Maritime and Shipbuilding Exhibition
Operated a Korean pavilion and held business meetings and forums...laying a stepping stone to expand to Russia’s maritime and shipbuilding market

KOTRA (President & CEO Yu Jeoung-yeol) and the Korea Marine Equipment Association (KOMEA, Chairman Kang Ho-il) operated and successfully wrapped up a Korean pavilion at 2021 NEVA, the International Maritime Exhibition and Conference – an international maritime and shipbuilding exhibition, held for four days from September 21 at St. Petersburg, Russia.

The NEVA Exhibition & Conference is the first offline exhibition that the KOMEA participated overseas since the outbreak of COVID-19, and Russia’s largest maritime and shipbuilding industry exhibition, held in every two years. In this year’s exhibition, Korea’s 9 companies in shipping and shipping equipment took part, displaying various products including shipping plant equipment and eco-friendly equipment, among others.

As order placement for large-scale Liquefied Natural Gas (LNG) from Russia is on the rise, demand for and interest in Korean shipbuilding equipment is also increasing.

Following 2019, KOTRA and KOMEA jointly held ‘Korea-Russia Shipbuilding equipment cooperation seminar’ with the United Shipbuilding Corporation (USD) of Russia. In one-on-one business meetings held along with the Exhibition, 20 major buyers from Russia and 12 shipbuilding equipment companies from Korea participated. Russian companies highly regarded Korean companies’ excellent technological prowess and strong willingness for overseas expansion.

Kim Sung-jun, head of KOMEA’s global support center, said "we hope this exhibition and business meetings were useful for Korea’s shipbuilding equipment companies to resume overseas business, which had been contracted due to COVID-19", adding "we will support domestic companies to enter foreign markets successfully by preparing follow-up support measures to create synergy effect by offering seminars and all to respond to changing local markets."

Lee Jung-hun, in charge of CIS head office, said "we could confirm demand for cooperation of Russian companies through this offline event,"; adding"we hope this exhibition serves as an opportunity to expand business with Russia’s shipbuilding equipment companies."

Source: KOTRA (September 24, 2021)