KOTRA Achieves $130 Million Export Through 'Biohealth Online Exhibition'

[Asia Economy Reporter Su-yeon Woo] KOTRA announced on the 30th that it successfully concluded export contracts worth $130 million through the 'Biohealth Worldwide Online Exhibition' held last month. This reflects the growing necessity of online exhibitions in export marketing for small and medium-sized enterprises amid the COVID-19 pandemic.

KOTRA successfully completed the 'Biohealth Worldwide Online' exhibition held from October 19 to 30. A total of 448 domestic and international companies participated, including 12 overseas companies, with 160,000 visitors attending. The exhibition attracted visitors from key export countries such as China, the United States, and India, as well as from around the world including Germany, the Netherlands, Egypt, and the United Arab Emirates (UAE).

There were 1,400 online consultations conducted. The total consultation volume amounted to $436 million, and KOTRA expects contracts worth $128 million to be finalized. Notably, products related to K-quarantine showed significant results. Masks, expected to generate transactions worth $41 million, along with COVID-19 diagnostic devices and disinfectant products, received considerable attention.

Kwon Pyung-oh, President of KOTRA, is announcing the opening of the 'BioHealth Worldwide Online Exhibition' held on the 19th of last month. Photo by KOTRA

The conference held as a side event also drew considerable interest. Influential speakers from the World Health Organization (WHO), Korea Disease Control and Prevention Agency, Johnson & Johnson, and the European Medicines Quality Committee presented on the future of the biohealth industry post-COVID-19 and shared K-quarantine expertise. Additionally, trends in COVID-19 vaccine and treatment development were discussed, and a corporate promotion event featuring 15 companies seeking overseas investment was held.

Participants responded positively to the event. According to a survey conducted by co-organizer Informa Markets, the biggest advantage was the ease of meeting buyers from around the world in an environment where offline overseas marketing is difficult. Respondents also noted that interpretation services enabled smooth consultations with buyers from non-English-speaking countries.

Buyers also largely responded that the online exhibition hall, which allowed them to view participant company information at a glance, was favorable. KOTRA actively utilized 3D content to enable buyers to explore products from various angles and supported video services to help them easily understand the products.

Kwon Pyung-oh, President of KOTRA, stated, "The Biohealth Worldwide Online exhibition will continue to operate as a permanent exhibition hall for our export companies through design improvements even after the event ends," adding, "We will continue to explore new possibilities for online exhibitions in preparation for the post-COVID era."

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