Ministry of Trade, Industry and Energy Partners with YouTubers to Pioneer 'Shinbukbang' Market

On the 30th, 'New Northern Business Partnership' Held in Conjunction with Northern Forum

[Image source=Yonhap News]

[Asia Economy Reporter Moon Chaeseok] The Ministry of Trade, Industry and Energy announced that Park Ki-young, Deputy Minister for Trade, will hold the 'New Northern Business Partnership Meeting' linked to the '2020 Northern Forum' from 11 a.m. on the 30th.

The meeting will be attended by popular YouTuber Min Kyungha, who has 890,000 SNS followers in the Commonwealth of Independent States (CIS) region, podcast host Lee Eui-chan of 'Vodka-Drinking Bear,' and Russian-born broadcaster Ilya Belyakov, among others.

The meeting discussed expanding business using new media targeting the New Northern region and ways to broaden the base of Korean consumer goods.

Additionally, opinions were exchanged on activating non-face-to-face business, which will become the new normal in the post-COVID-19 era, with companies such as Coway participating in the New Northern Business Partnership online video consultation and virtual reality (VR) consultation hall.

Deputy Minister Park stated, "In line with the changing environment in the post-COVID-19 era, we will actively support the activation of non-face-to-face business with New Northern countries by holding online consultation meetings, business forums, and seminars in cooperation with related organizations such as KOTRA."

He added, "The current popularity of BTS and the status of Hallyu would not have been possible without the help of new media such as YouTube," emphasizing, "Utilizing new media is essential to expand the entry of our consumer goods into the New Northern region."

The Ministry of Trade, Industry and Energy also reported that prior to the New Northern Business Partnership event, they created content titled 'How Far Have You Been in the New Northern?' together with YouTuber Min and foreigners from the CIS region residing in Korea.

They filmed videos covering cultural differences in the New Northern region, consumer trends, and promising Korean products for market entry. On the 28th, Korean culture and consumer goods were promoted to New Northern countries through Min's YouTube channel.

At the Northern Forum venue, an online video consultation hall, exhibition hall, and VR consultation hall were operated (hosted by KOTRA) to actively support the entry of Korean companies into the New Northern region and maximize business cooperation outcomes.

An official from the Ministry said, "The Ministry of Trade, Industry and Energy plans to continuously create business cooperation results through online platforms such as video consultations and exhibitions in cooperation with related organizations and actively support the expansion of consumer goods entry using new media."

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