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Ulsan Companies Penetrate S.East Market

Ulsan Economic Promotion Agency announced Tuesday that its IT trade mission held business consultations with local buyers in Singapore and Surabaya, Indonesia from May 20 to May 24 to penetrate the Southeast market.

The IT trade mission, jointly supported by the National IT Industry Promotion Agency under the Ministry of Science, ICT and Future Planning of Korea, Ulsan city and Busan city, included seven and two companies from Busan and Ulsan respectively which had advanced technology, and was welcomed by the buyers.

A vehicle black box maker ATM, and Ubimicro, a data collection device manufacturer, held 27 business consultations to lead to expected exports of USD 1.41 million.

An Singapore company is negotiating with ATM Malaysia branch for exclusive sales rights in Singapore as the products are relatively cheaper than those produced in Singapore but have clear display, voice directions, and self-diagnostic recovery system.

ATM also sold the sample products on the site to another company for product testing, and expects additional sales.

Ubimicro consulted with nine companies which amounted to USD 160 thousand.

The companies also had a chance to promote their products by visiting a computer business association which has around 200 members which was organized by KOTRA Korea Business Center in Surabaya, Indonesia.

The IT trade mission has seen high satisfaction for the business consultations with companies’ advanced IT technology and customized organization of KOTRA local business center.


Source Text: Newsis (May 28, 2013)

** This article was translated from the Korean.