KOTRA Hosts 'Korean Products Fair in Latin America' with 201 Companies Participating

[Asia Economy Reporter Jeong Hyunjin] KOTRA announced on the 29th that it will hold the 'Latin America Korean Products Exhibition' until the 9th of next month to support the entry of Korean small and medium-sized enterprises (SMEs) and mid-sized companies into the Latin American market. A total of 201 Korean companies will participate in this exhibition and consultation event.

The event is organized into three stages: capacity building, contract support, and market entry support.

The capacity building stage includes a planned survey titled 'One Year of COVID-19, Changes in Latin American Consumer Trends and Entry Strategies,' webinars explaining customs duties and clearance procedures in major Latin American countries such as Mexico, Brazil, Chile, and Peru, and export mentoring programs where Latin America KOTRA staff consult domestic companies.

In the contract support stage, promising export items suitable for the post-COVID-19 era will be selected and exhibited on the e-commerce platform 'BuyKorea.' Additionally, online and offline promotions will be conducted using social networking services (SNS). Furthermore, in the market entry support stage, plans are in place to further concretize the entry of companies exporting to Latin America. KOTRA explained that it will assist Korean companies in expanding their market entry by utilizing Latin American e-commerce platforms such as 'Mercado Libre' and 'Amazon.'

Kim Kijung, Head of KOTRA's Latin America Regional Headquarters, stated, "Latin America is a key market where Korea has a trade surplus, but due to the impact of COVID-19 last year, exports sharply declined by 26% compared to the previous year, resulting in a trade deficit for the first time in 30 years." He added, "By capturing the changing trends amid the rapidly evolving COVID-19 situation, opportunities can be gained."

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