Invest KOREA

About 700 overseas buyers from 62 countries participated....conducting more than 8,000 one-on-one biz-matching
Focus on securing export momentum of 7 key industries, connecting 12 industrial exhibitions and regional biz partnering

The Ministry of Trade, Industry and Energy (MOTIE) and KOTRA held a super-large export consultation meeting to respond to deepening restructuring of global supply chain and the continued global economic slowdown.

The 2023 Boom Up Korea Biz-Trade Show 2023 Autumn, held at KINTEX in Ilsan on October 18-19, is business partnering event, combining capabilities of related government agencies and corporates aimed at improving the short-term trade balance and securing the global competitiveness of the Korean industry.

In particular, this Trade Show, held along with various exhibitions and consultations, is noteworthy in terms of participation scale and results. 129 KOTRA Business Centers around the world brought in more than 700 overseas buyers from 62 countries who are interested in Korean products, and more than 8,000 one-on-one biz-matching meetings were arranged, opening the door for Korean companies to find new overseas markets.

■ Global Top Tier Manufacturers Visit Korea in Mass to Diversify Supply Channels

The event attracted a large number of "global big buyers"-leading players in their respective industries, including Apple, Boeing, GM, Schaeffler, and Rivian. They visited Korea to actively respond to the restructuring of the trade order and to diversify supply channels that tend to be concentrated in certain regions or countries.

In response, KOTRA has made efforts to strengthen the competitiveness of the high-tech future growth engine industries by encouraging the participation of Korean companies in the fields of materials, parts, and equipment.

■ From Future Mobility to K-food, Innovative Products Hitting the Global Market Introduced

Amid increasing global competition in the future mobility market, manufacturers from North America, Europe, and ASEAN visited Korea to seek "measures for cooperation in the future car" with Korean companies. Thai company B said, "Taking this visit as an opportunity, we will promote cooperation with leading electric vehicle parts companies in Korea to build a new value chain for electric vehicles."

■ Expand Exports and Revitalize the Local Economy by Linking Major Exhibitions and Regional Business Partnering

This Boom-Up Korea event was held for the first time in conjunction with various exhibitions. During the same period, other events were jointly held such as ▲Korea Auto Industry & Global TransporTech Show (KOAA·GTT SHOW) ▲ 2023 TECH INSIDE SHOW ▲ Korea Metal Week 2023 ▲ Tool Tech+Smart Welding Automation Fair, allowing overseas buyers to meet more companies at the same venue.

KOTRA President & CEO Yu Jeoung-yeol said, "Despite challenging external environment, we are making all-out efforts to sell even one more product to overseas markets," adding, "We will strive to connect more overseas buyers and Korean companies by holding large flagship events such as Boom-Up Korea on a regular basis."



Source: KOTRA (Oct. 19, 2023)