Gyeongbuk Province Invested Company Gyeongbuk Tongsang's Sales 'Soar'..."Exports of Immune Varieties Surge"

Expected to Achieve 50 Billion KRW in Sales This Year... Likely to Increase by 30% Compared to Last Year

On October 15th, harvesting ripe rice in Deokam-ri, Cheongdo-eup, Gyeongbuk.

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Despite difficult export conditions at home and abroad due to the novel coronavirus infection (COVID-19), the sales of Gyeongbuk Tongsang Co., Ltd., an export-specialized company under the Gyeongbuk Provincial Government, have significantly increased.

According to Gyeongbuk Province on the 20th, as of the end of September, Gyeongbuk Tongsang's sales amounted to 37.8 billion KRW, a 27% increase compared to 29.7 billion KRW in the same period last year. In particular, sales in September reached 5.8 billion KRW, an 87% increase compared to 3.1 billion KRW in the same month last year, continuing the export boom. If this trend continues, it is expected to surpass 50 billion KRW for the first time since its establishment by the end of this year.

As of the end of September, the total national export of specialty agricultural, forestry, and fishery products increased by 3% year-on-year to 6.563 billion USD, whereas Gyeongbuk Province's exports achieved 441 million USD, a 20.7% increase compared to the same period last year. Gyeongbuk Tongsang's exports are expected to reach approximately 40 million USD by the end of the year, an increase of about 30%.

This export growth is analyzed to have been effective through non-face-to-face overseas buyer consultations, expanding exports to regions such as the United States, Canada, Hong Kong, and Vietnam. In particular, by targeting the gap in the US-China trade dispute and expanding exports of peeled garlic to the US region, it is evaluated that they actively responded to the growing demand in the home meal replacement instant food market due to COVID-19.

Kim Yu-tae, CEO of Gyeongbuk Tongsang, emphasized, "We will continuously carry out management innovation activities to actively respond to new trade environment changes, becoming a company for the residents and actively expanding exports of agricultural specialty products."

Governor Lee Cheol-woo stated, "Despite the difficult external export environment, we are striving to resolve export field difficulties by promoting various export SOS projects such as non-face-to-face export consultations, logistics, and infrastructure support. In particular, to expand overseas exports of agricultural specialty products, we plan to continuously promote various distribution and sales projects, including holding overseas promotional exhibitions in cooperation with Gyeongbuk Tongsang."

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