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Ulsan Knocks on Indian Market

The Ulsan Chamber of Commerce and Industry announced last week that it will send a trade mission this week to Mumbai and Chennai, India.

India is the fourth largest market following China, the United States and Japan.

Including Luxco, a leading Korean solar company, Donghyup Industries Co., LTD, Daedo Engineering and six others will participate in the mission.

The group will hold exports consultation sessions and market information sessions. They will also sign a memorandum of understanding with the Madras Chamber of Commerce & Industry and visit industrial facilities.

The Ulsan Chamber of Commerce and Industry plans to examine the Indian market and its investment environment and build an economic partnership with India.

It is focus on establishing a strategic partnership with major local buyers and diversifying export channels by sending trade missions overseas annually from 2010.

For past three years, the number of consultations and amount of consulted exports reached 192 and KRW 55.1 billion respectively. Export amount based on contracts is KRW 37.6 billion.

Backed by past performance, various promising companies in the field of automobiles, machinery, solar power and more are expected to participate in the trade mission to bring a greater success.

An Ulsan official noted that identifying buyers in advance and sending matched regional companies led to a success. He added that the chamber will build a local network for consistent management so that regional companies can maintain partnership with local buyers.


Source Text: Newsis (July 6, 2013)

** This article was translated from the Korean.