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KOREAN SMES BREAK
INTO POWER
EQUIPMENT AND
MATERIALS MARKET IN
EMERGING COUNTRIES
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On May 10, the Korea Trade-Investment
Promotion Agency (KOTRA) and
the Korea Electric Engineers Association
(KEEA) jointly kicked off Power-Tech
Korea 2017 in Seoul. About 60 foreign
buyers attended the event held on the
sidelines of the Global Electric Power
Tech 2017, and had business meetings
with 150 Korean SMEs. The buyers were
consisted of mainly electric companies
and engineering, procurement and construction
(EPC) contractors from 24
countries involved in power generation
projects.In particular, Indonesia Energy
Group and six other Indonesian firms
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paid their first visit to the event. They
came to purchase Korean electric equipment
and materials to carry out the government’s
ten-year plan for the development
of power generation systems. The
national plan aims to dramatically
increase the country’s electricity supply
by 2025. President Director Ari Rahim of
the Indonesia Energy Group explained
that he participated in the event to learn
from Korea’s premier electricity system
and to buy a wide array of Korean products
in power transmission and distribution
as well as renewable electricity generation.
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GLOBAL COMPANIES
COME TO KOREA TO
FIND PREMIER TALENT
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Seoul Career Vision 2017 kicked off
on May 11 in Goyang-si in a bid to promote
employment and help the Korean
youth enter the global market. KOTRA
and the Human Resources Development
Service of Korea co-organized the twoday
event hosted by the Ministry of
Employment and Labor. About 200
renowned multinational companies from
13 industries and 18 countries attended
the job fair. A total of 505 jobs were
available in participating companies
including Nissan, Amazon Japan,
Bloomberg Hong Kong and the Bank of
Montreal.
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The event provided comprehensive
support for those who want to work
abroad, from one-on-one mock interview
sessions to a speech contest where job
candidates could evaluate their capability.
“KOTRA helped some 476 people to
land a job overseas, which is a 15.8 percent
increase from the previous year,”
said KOTRA’s CEO and President
Jaehong Kim. He added that the agency
will further cooperate with a greater
number of foreign companies in more
diverse sectors so that Korean youth can
fulfill their potential on the global stage.
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PROMISING KOREAN
STARTUPS VISIT NORTH
AMERICA
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On May 15, KOTRA opened its Korean
Pavilion for promising domestic startups
at OCE Discovery 2017, the largest of its
kind in Canada. 10 startups armed with
advanced technologies including Analogue
Plus (wearable bluetooth headsets),
12cm (smart stamps), and Globepoint (VR
software), participated in the pavilion
jointly run by the Gyeonggi Center for
Creative Economy and the Gyeonggido
Business & Science Accelerator.
Various programs were provided at this
year’s event to support startups, including
showcases, business meetings, seminars
and lectures. KOTRA also provided
Korean startups with tailored consultations
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on attracting investment and signing
export deals to help them make inroads
into the global market.
Five out of the 10 participating firms
went to the New York-based ERA, a
renowned venture incubator, to join mentoring
and IR pitching sessions with 20
local venture capitalists and accelerators.
Seok-Gi Seon, Executive Vice President
for SME Support of KOTRA, stated that
KOTRA will expand support for greater
engagement of Korean startups in international
startup conferences and continue
to provide a platform for their global
market entry.
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KOTRA PROVIDES
SPRINGBOARD FOR KOREAN
SMES TO ENTER EXPORT
MARKET
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At Export Gateway Biz Plaza 2017
held on May 18, KOTRA’s 127 overseas
offices identified global buyers wanting
to import the products of Korean SMEs.
Communications including video conferencing
between Korean vendors and foreign
buyers were supported by KOTRA
so that they could have one-on-one business
meetings at the event. The event
offered about 1,600 export consultation
sessions engaging 661 Korean vendors
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and 217 foreign buyers from 51 countries.
A total of 30 export deals and
MOUs were signed during the event.
In particular, the cutting-edge technologies
of Korean SMEs were well
received by participating buyers, leading
to an increase in export deals. In the
showcasing rooms, new products based
on technological innovation as well as
Korean pop culture were introduced by
48 Korean companies.