Yeongdeungpo-gu to Develop Cosmetics Manufacturing and Grill Pan Businesses into Global SMEs

Kyung Hee University Industry-Academic Cooperation Foundation Shares Final Results of 'Global SME Development'... Establishing Overseas Market Channels through Customized Overseas Marketing and Market Research for Companies

[Asia Economy Reporter Jong-il Park] Yeongdeungpo-gu (District Mayor Chae Hyun-il) held a session to share the final results of the ‘Industry-Academia Cooperation Project’ promoted during the first half of this year to open overseas market channels for small and venture companies and strengthen global marketing capabilities.

At the results report meeting held on the 28th, the achievements made so far were shared, and concrete and practical development plans for the leap of small and venture companies into global enterprises were also discussed.

The ‘Industry-Academia Cooperation Project’ is an industry-academia-government collaboration project that discovers promising small and venture companies with products capable of leading the global market and helps them enter overseas markets based on professional management strategy support from university industry-academia cooperation groups.

Since signing the ‘Mutual Cooperation Agreement for Small Business Development’ with Kyung Hee University in 2007, the district has been striving to prepare measures for the management growth of small businesses in the region, and through a total of 13 industry-academia cooperation projects until last year, it has provided 42 companies with opportunities to learn overseas marketing strategies.

Starting recruitment in February, three promising companies in Yeongdeungpo were finally selected.

The three selected companies were finally chosen for their potential to grow into global enterprises, including a cosmetics manufacturing company, which is one of the beauty industries gaining worldwide attention along with the recent K-pop wave, and manufacturers of frying pans, grill pans, and copper tableware.

The evaluation was conducted by the Global Trade Expert Training Group of Kyung Hee University’s Industry-Academia Cooperation Group, considering factors such as the companies’ technological level, export experience, and growth potential.

The selected companies have been provided with customized management consulting for about four months since March, including ▲preliminary research for overseas market development ▲market research by product and region ▲selection of excellent products ▲trade practice management consulting ▲buyer discovery and linkage, among a wide range of management consulting services.

Going forward, continuous consulting and exchange of overseas market information will be provided to ensure post-management for business stabilization.

Chae Hyun-il, Mayor of Yeongdeungpo-gu, said, “This year has been a period when small and venture companies faced increased management difficulties due to the prolonged COVID-19 pandemic, domestic economic downturn, and export slowdown,” adding, “We will prepare various support measures to enhance the competitiveness of small and venture companies and revitalize the local economy.”

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