Gwangju City Establishes Dedicated Overseas Business Space for Mold Industry

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City announced on the 7th that it has established an overseas business-exclusive space that local companies can jointly use at the High-Tech Mold Center within the Pyeongdong Industrial Complex Mold Specialized Complex to help local mold companies export overseas.

The city invested a total of 1.4 billion KRW in the "Mold Specialized Complex Overseas Business Environment Improvement Project," promoted as part of the Ministry of Trade, Industry and Energy's root industry specialized complex support project, creating 2 international conference rooms, 3 buyer meeting rooms, 5 information rooms, and 1 convenience facility.

The business-exclusive space is equipped with a video conferencing system and interpretation devices.

Before the spread of COVID-19, overseas buyers visiting Gwangju stayed an average of 2 to 3 days, with more than 40 cases and over 100 people annually until 2019, coming from various countries around the world including Asia, Europe, and the United States.

Most mold companies in the Gwangju area are small businesses with fewer than 50 employees, and due to financial and spatial constraints, there had been no separate business marketing space, causing difficulties in overseas export consultation and marketing activities for about 350 local companies.

Especially amid the increased marketing difficulties caused by COVID-19, this business environment improvement project is expected to greatly assist the export marketing of local mold companies.

In addition, Gwangju City plans to provide one-stop support for product test production, storage, and marketing by jointly utilizing the completed mold logistics center operated by the Korea Mold Industry Promotion Association, which is already established and in operation, along with about 20 types of equipment and mold design facilities.

Son Kyung-jong, Director of the AI Industry Bureau of the city, said, "We expect the competitiveness of the local mold industry to be strengthened through this environment improvement project and the joint use of already established equipment," adding, "We will continuously communicate and support the capacity building of local mold companies."

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