Recorded $35.8 Million in Consultations Through Virtual Export Consultation Meeting

Ministry of SMEs and Startups Announces Results of Export Support Agencies Collaborative Video Consultation

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Park Young-sun, hereinafter referred to as the Ministry) announced on the 22nd that a total of 204 companies participated in the 1st and 2nd online export consultation meetings held on April and May 20, conducting 301 export consultations with 95 buyers from 23 countries, recording consultation results worth 35.8 million USD.

Among the 133 companies that participated in the 1st consultation meeting on April 23, 2 companies completed sample exports worth 4,000 USD, and 68 companies requested sample shipments as buyers reviewed contract signing, with about 20 companies positively pursuing contracts worth approximately 9.28 million USD.

At the BrandK consultation meeting held on the 20th, there was a favorable response to K-quarantine products, K-beauty, and K-food products, which have recently gained attention due to the novel coronavirus disease (COVID-19). In the case of Company H, which produces sterilized wet wipes, the general manager of Korean sourcing for a Chinese buyer is currently staying in Korea, and it was announced that a direct factory visit and purchase consultation will be conducted next week, raising expectations for significant contract achievements.

The Ministry has been promoting online video export consultation meetings targeting COVID-19 affected companies, domestic promising export SMEs in materials, parts, equipment, and BrandK from April to July to turn the unprecedented COVID-19 crisis into new export opportunities. On the 27th, the 3rd video consultation meeting will be held for companies advancing into the New Northern Market, hosted by the Korea SMEs and Startups Agency, and dedicated personnel will be assigned to each company to closely support post-management of participating companies so that the video export consultation meetings continuing until July do not end as one-time consultations but lead to actual contracts.

Furthermore, the results and achievements of each round of video consultations will be summarized and announced at the end of each month, and after the second half of the year, the Ministry plans to continuously promote video export consultation meetings so that Korean companies can regularly meet overseas buyers by utilizing permanent video consultation rooms established at export support centers of export-related organizations and regional offices nationwide.

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