"Break into China's Inland Market" ... Gyeongbuk Province Holds 'Video Consultation Meeting' with Local Leading Companies

50 Consumer Goods Leading Companies from Gyeongbuk and Henan Province Participate... 35 Consultations Result in 1.3 Billion KRW Contracts

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Jae-ho] Gyeongbuk Province announced on the 30th that it held a video consultation meeting with leading consumer goods companies on the 28th at the provincial government conference room and the Yonghe Baojie Hotel in Henan Province, China.

The event was attended by Ha Dae-seong, Vice Governor for Economic Affairs, Heo Jin-ping, Vice Governor of Henan Province, Kang Seung-seok, Consul General in Wuhan, Hong Chang-pyo, Head of KOTRA China Regional Headquarters, along with about 50 companies from both regions.

To maximize the outcomes of the consultation, Gyeongbuk Province invited prominent buyers from Henan Province in cooperation with the KOTRA Zhengzhou Trade Center. Through customized client development and item selection based on actual demand, the meeting resulted in 35 consultations, contracts worth $1,547,600 (approximately 1.7 billion KRW), and agreements totaling $1,213,100 (approximately 1.3 billion KRW).

In particular, by selecting products with proven marketability, a local distribution store entry and online promotional event will be conducted throughout July with Henan Province buyers who have nationwide distribution networks, aiming to promote export contracts and explore the possibility of Gyeongsangbuk-do products entering the Chinese inland market.

Ha Dae-seong, Vice Governor for Economic Affairs, stated, "Gyeongbuk Province and Henan Province have maintained a sister city relationship for a long time, sharing the history and context of Korea-China diplomatic relations," adding, "Both regions will carry out various diplomatic activities starting with this video consultation meeting."

Meanwhile, Gyeongsangbuk-do and Henan Province signed a Memorandum of Understanding on establishing a comprehensive exchange and cooperation system last December to commemorate the 25th anniversary of their sisterhood and to promote exchanges in economic, cultural, and educational fields. This event is also part of efforts to revitalize economic exchanges under the memorandum.

Gyeongbuk Province and Henan Province established their sisterhood in 1995 and have maintained active friendly exchanges. Henan Province ranks third in economic growth rate in China and has excellent logistics infrastructure.

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