Muheop - Ministry of SMEs and Startups launches public-private joint consultative body for 'Brand K'

[Asia Economy Reporter Hwang Yoon-joo] The Korea International Trade Association (KITA) announced on the 16th that it has launched the public-private joint council for 'Brand K,' a certification for small and medium-sized enterprise (SME) products representing Korea, in collaboration with the Ministry of SMEs and Startups at COEX in Samseong-dong.

The launch ceremony was held with the attendance of Park Young-sun, Minister of SMEs and Startups, Kim Young-joo, Chairman of KITA, and 12 representatives from member organizations and companies of the council, including 11st, CJ E&M, and Lotte Homeshopping.

At the ceremony, Kim Young-joo, Chairman of KITA, stated, "This year, KITA led untact overseas marketing by focusing on supporting non-face-to-face marketing such as hosting online export consultation meetings for Brand K companies and producing content utilizing new media. Next year, we will continue to work closely with the government, related organizations, and companies to support Brand K products in growing as representative products of the Republic of Korea."

Going forward, KITA plans to lead the council as a co-head institution along with the Ministry of SMEs and Startups by setting policy directions related to Brand K. In particular, it will comprehensively coordinate support from participating organizations for policy establishment to activate exports of Brand K products, overseas marketing, domestic and international distribution and sales channel development, and financial support, thereby strengthening the export capabilities of SMEs.

Along with the launch ceremony of the council, a joint online export consultation meeting was held by KITA and LG Sangsa to commemorate the first anniversary of Brand K. The consultation meeting included 102 domestic companies, including 30 Brand K companies, and 38 buyers from 18 countries such as 16 ASEAN buyers recruited through LG Sangsa’s overseas corporate network, as well as buyers from Russia, Hungary, Poland, and Kenya.

The event was conducted both online and offline with fewer than 49 attendees in compliance with COVID-19 quarantine level 2.5 guidelines. In particular, for the consultation meeting, domestic companies participated online from their respective offices, with only interpreters present at the consultation site, and the consultations were conducted in a three-way video format among buyers, export companies, and interpreters.

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