Invest KOREA

Operated the Korean Pavilion, resulting in business meetings worth USD 59 mn and on-site contracts of USD 5 mn

The Ministry of Trade, Industry and Energy (Minister Ahn Duk-geun) and KOTRA (President Yu Jeoung-yeol) operated the Korean Pavilion at Hannover Messe, held in Hanover, Germany on April 22-26.

Hannover Messe 2024 drew 3,900 companies from 60 countries around the world. In terms of participating companies, Korea ranked 9th with 69 companies. China top the list with 1,154 companies participating, followed by Italy (146) and Turkey (141). Meanwhile, 48 firms, up more than 50% from a year ago, participated in the Korean Pavilion, operated jointly by 6 organizations.

※ Six organizations: KOTRA, Daegu Digital Innovation Promotion Agency, Changwon Industry Promotion Agency, Korea Association of Machinery Industry ,Korea Institute for Robot Industry Advancement, Korea International Trade Association.

In this year's exhibition held under the theme of "Energizing a Sustainable Industry", low-carbon production technologies that minimize carbon emissions during the production process and renewable energy drew much attention. In addition, various innovative technologies to enable co-existence of industrial competitiveness and sustainability were in the limelight.

Company B, a producer of BLDC motor and reducer which are emerging as core parts of various industries, has found a buyer in the exhibition and in discussion for sample test. Its manager said, "With the support of KOTRA, we have made achievements by participating in various exhibitions", adding that "This year, we have achieved about 3 times more on-site sales, compared to the previous year, through consultation with new buyers in addition to existing buyers."

KOTRA has actively made use of digital marketing to provide marketing support to companies participating in the Korean Pavilion. It established a digital online product hall on the website of Buy Korea (buykorea.org) containing information of participating companies, and also discovered 25 new buyers through LinkedIn and Google Ads.



Source : Invest KOREA (2024.06.19.)