Gwangju City to Promote Overseas Market Development Delegation Project with SME Participation This Year

Gwangju City Hall

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City announced on the 19th that, in collaboration with the Gwangju-Jeonnam KOTRA Support Group, the Gwangju Regional Headquarters of the Small and Medium Business Corporation, and the Gwangju-Jeonnam Regional Headquarters of the Korea International Trade Association, it will promote a dispatch project for overseas market development teams involving about 80 small and medium-sized enterprises hoping to explore overseas sales channels from March to October.

The overseas market development teams, held annually, organize comprehensive export consultation meetings abroad and arrange export consultations between local buyers and companies' main products to support market expansion.

This year, the teams will be dispatched nine times in total across 22 cities in 16 countries including China, India, Russia, and the Middle East.

Gwangju City supports participating companies in the overseas market development teams by covering 50-70% of airfare (for one person), rental fees for consultation venues, interpretation fees, and market research expenses.

For each overseas market development team, 10 companies are selected per session. Companies wishing to participate can refer to the announcement posted 2-3 months before dispatch and submit the prescribed application form to the executing (receiving) organization.

Applications are currently being accepted until the 22nd for the India Market Development Team scheduled for March 8-15. Interested companies can submit their application forms through the Gwangju Regional Headquarters of the Small and Medium Business Corporation (062-369-3051).

Last year, Gwangju dispatched overseas market development teams seven times to 17 cities in 12 countries, where 65 small and medium-sized enterprises signed a total of 86 export business agreements (MOUs) worth 36.1 million USD locally.

Park Nam-eon, Director of the City’s Job and Economy Office, stated, “This year’s overseas market development teams will focus on emerging markets such as India, Russia, and the Middle East, conducting thorough prior market research and actively matching local buyers to do their utmost to help regional small and medium-sized enterprises develop overseas sales channels.”

This content was produced with the assistance of AI translation services.