Martial Arts and Specialized Trading Companies Hold First Video Consultation Meeting to Discover Overseas Buyers

[Asia Economy Reporter Jeong Hyunjin] The Korea International Trade Association (KITA) held a 'Video Export Consultation Meeting between Specialized Trading Companies and Overseas Buyers' on the 20th at COEX in Samseong-dong, Seoul, jointly with the Ministry of Trade, Industry and Energy.

KITA stated that due to difficulties faced by specialized trading companies in discovering new export destinations amid the COVID-19 pandemic, this consultation meeting was organized for the first time to support the discovery of new overseas buyers for specialized trading companies. At the event, 19 specialized trading companies from various sectors including materials, parts, equipment, machinery, quarantine products, food, cosmetics, and daily necessities participated and conducted video export consultations with 26 buyers from five countries including Vietnam, China, and the United Arab Emirates.

KITA announced that from this year through 2023, it has been recruiting new specialized trading companies to act as export agents for domestic companies and export beginners since last week. Applications are open until the 14th of next month and can be submitted online via the Specialized Trading Company website or the KITA website.

Once designated as a specialized trading company, benefits such as a 40% discount on short-term export insurance, a 1.5 times increase in export credit guarantee limits, free credit investigations of overseas buyers up to 10 times a year, and additional points when applying for government-led overseas exhibitions and branch office projects will be provided. Especially this year, the related budget has been significantly expanded to support export logistics costs, foreign language video and catalog production, among others.

Kim Hyuncheol, Head of Global Marketing at KITA, said, "Specialized trading companies possess export experience and expertise specialized by product and country, so if matched well with buyers, the possibility of export expansion is high," adding, "We hope that this consultation meeting will further activate export agency services for domestic manufacturing companies."

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