Holding Online Consultation Meeting to Support Overseas Expansion of Martial Arts and Baby Products Industries

Photo by Korea International Trade Association

[Asia Economy Reporter Kim Heung-soon] The Korea International Trade Association (KITA) held an online export consultation meeting for baby products on the 17th at COEX in Seoul. This event was organized to support the overseas expansion of the industry, which is facing difficulties due to the contraction of the domestic baby products market, as the total fertility rate in Korea has dropped to 0.84 and the number of newborns has also reached an all-time low of around 270,000.

KITA identified China, where the birth control policy is expected to be abolished, and Southeast Asian countries with continuously growing populations as promising markets, and focused on inviting buyers from these countries.

The consultation meeting was attended by 17 buyers from 17 companies across six countries including China, Indonesia, and Malaysia, who held export consultations with 25 domestic baby product companies offering infant food, cosmetics, baby bottles and teethers, car seats, and more.

Kim Hyun-chul, Head of Global Marketing at KITA, said, "The decline in birth rates and newborn numbers, along with the postponement and cancellation of related exhibitions due to COVID-19, have exacerbated difficulties in the industry, making exports of baby products also challenging. We will consider various support measures to help our companies find new breakthroughs in overseas markets and make every effort to restore exports."

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