"Companies Blocked from Overseas Business Trips Due to COVID-19, Use Video Consultations and Online Exhibitions"

Ministry of Trade, Industry and Energy Supports Overseas Marketing for Companies Weakened by COVID-19
Expansion of Online Non-Face-to-Face Marketing Including KOTRA Video Consultations

[Asia Economy Reporter Kim Bo-kyung] #. Domestic auto parts company J recently confirmed new supply contracts for side mirrors worth 16 billion KRW this year and 34 billion KRW next year for Chinese electric sports utility vehicles (SUVs) through a video consultation meeting.

#. P, a company that manufactures and sells convenient rice noodles, succeeded in securing a contract worth $330,000 (3,500 units) in the Shenyang region of China through a video consultation. This was based on the observation that indoor activities of Chinese consumers have increased recently due to the novel coronavirus disease (COVID-19).

The government is significantly expanding video consultation meetings with overseas buyers to support companies facing difficulties in export marketing activities due to COVID-19. On the 5th, the Ministry of Trade, Industry and Energy announced that from early this year until the 4th, 152 video consultation meetings were held mainly targeting the Chinese-speaking region, resulting in 11 contracts (worth approximately $18.27 million).

Overseas buyer A, located in Wuhan, China, will hold a video consultation meeting with 11 domestic companies at the Wuhan Trade Center on the 12th, with interpretation support. The Ministry plans to conduct over 2,000 video consultations with 800 overseas buyers throughout this year.

To this end, KOTRA plans to expand video consultation software at regional support teams and key overseas trade centers, as well as increase dedicated video consultation booths. Domestic companies wishing to participate in video consultations can apply through KOTRA headquarters or 13 regional support teams.

Asia Economy DB=Photo by Moon Honam munonam@

The Ministry of Trade, Industry and Energy is promoting the establishment of an online exhibition hall on the electronic trade portal site 'BuyKorea' to implement various canceled exhibitions and marketing of promising items online due to the impact of COVID-19.

This month, online exhibitions will be prioritized for eight canceled domestic exhibitions, including the International Medical Devices and Hospital Equipment Exhibition, and 11 overseas exhibitions. Subsequently, online exhibition halls for promising items such as consumer goods and medical bio will be established, and leading buyers will be invited to trade centers worldwide to promote products.

For companies facing difficulties in overseas business trips due to restrictions on Korean entries, overseas trade centers will provide support through the 'Emergency Overseas Marketing Agency Project,' which handles tasks such as client management and obtaining permits on behalf of companies.

Trade centers in 38 countries with entry bans will be designated as priority support targets and will provide immediate assistance upon company application. Services will also be expanded in the future for 54 countries with strengthened entry procedures.

An official from the Ministry said, "Companies wishing to receive emergency marketing agency support can apply anytime to the promising companies team at KOTRA headquarters," adding, "KOTRA will promptly conclude agreements with companies and assign dedicated staff to start local overseas agency work for each company."

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