ULSAN < invest Korea

Ulsan and the Ulsan Economic Promotion Agency hosted export consultation sessions Wednesday to promote exports of small- and medium-sized enterprises and to penetrate the global market.

Around 30 buyers from 24 Chinese and Japanese companies participated to have export consultation sessions with 36 Korean small- and medium-sized enterprises in automotive parts industry.

Ulsan received applications in advance from around 80 foreign buyers from Japan, Tianjin, Shenyang, Changchun and Danlian in China with cooperation of KOTRA Korea Business Center in Shenyang and foreign organizations including the Organization for the East Asia Economic Development and China Council for the Promotion of International Trade and finalized 24 participants based on a survey completed by regional small- and medium-sized companies.

Most of the invited buyers are a CEO of a company or a head of the purchasing department which have purchase authority, leading to high expectations for successful event.

China is the largest trade country for Korea. It is also the largest automobile market in the world where 20 million cars are sold every year.

In particular, top executives of six foreign companies which have shown interest in the event, including Vice Chairman of Jinbei Car Company located in Shenyang, China, participated in the event.

Small- and medium-sized companies also expected to bring practical outcomes with MIshima Kosan, a Japanese company of KRW 300 billion sales, which many Korean companies requested to invite.

The city plans to maximize the effect of export consultation sessions by organizing individual visits of buyers to companies or industrial facilities afterwards.

An Ulsan official noted that increase in exports and penetration into the global market are expected through the export consultation sessions as products of small- and medium-sized enterprises are excellent in terms of quality and price competitiveness.

** This article was translated from the Korean.