Martial Arts, Korea-China E-commerce Cooperation Forum and Consultation Meeting Held

[Asia Economy Reporter Suyeon Woo] The Korea International Trade Association (KITA) announced on the 1st that it jointly held the '2021 Korea-China E-commerce Cooperation Forum and Consultation Meeting' on the 30th at COEX, Samseong-dong, together with the Ministry of Trade, Industry and Energy, China E-commerce Center, and the Embassy of China in Korea.

At the opening speech, Lee Gwan-seop, Vice Chairman of KITA, said, "China has about 1 billion internet users and the world's largest e-commerce market," adding, "Korea is the world's 5th largest e-commerce country based on digital technology, and both countries have unlimited cooperation possibilities and potential in the e-commerce sector."

Jia Guoyong, Secretary of the China E-commerce Center, responded, "As China's cross-border direct purchase market is showing explosive growth recently, Korean companies utilizing China's e-commerce platforms will greatly help secure new Chinese consumer segments and enhance global brand awareness."

Seo Garam, Director of Trade Cooperation at the Ministry of Trade, Industry and Energy, emphasized, "If we utilize the excellent e-commerce trade environment of both countries, the close trade and economic cooperation relationships built so far can be developed more sustainably and future-oriented."

At the forum, Professor Lee Dong-il of Sejong University, who gave a presentation, said, "Unlike before when consumers showed habitual and repetitive decision-making patterns, they now decide consumption using multiple media and information sources," adding, "Therefore, developing loyalty programs such as memberships to strengthen consumer bonds is important."

Song Jong-seon, Director of Cafe24, a global e-commerce platform, said, "Collaborating with famous domestic influencers to build recognition on major Chinese social networking services (SNS) such as Xiaohongshu and Weibo, and utilizing them well, will help increase sales."

Meanwhile, at the consultation meeting held alongside the forum, about 50 domestic companies wishing to enter the Chinese e-commerce platform market and 15 buyers from China including JD.com, Tmall, and Suning participated in one-on-one online export consultations.

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