This Year’s 'Global Business Sourcing Fair' Achieves $12.8 Million in New Contracts

731 Small and Medium Venture Companies Participate... Online Consultations with 175 Buyers from 34 Countries

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 23rd that it successfully concluded the '2021 Global Business Sourcing Fair.'

The sourcing fair, held over two days on the 18th and 19th at SETEC in Gangnam, Seoul, consisted of one-on-one export consultations with overseas buyers, a promising product showcase, and an online forum. It was conducted entirely online in compliance with the Level 4 social distancing quarantine guidelines due to the resurgence of COVID-19.

During the export consultations conducted via a three-way video call involving domestic companies, overseas buyers, and professional trade interpreters, 731 domestic companies were matched with 175 buyers from 34 countries, resulting in contracts worth a total of 12.8 million USD.

At the promising product showcase, over 200 products were promoted through interactive communication with overseas consumers, and at the live commerce section, overseas influencers were invited to conduct real-time broadcast sales of about 30 products, recording total sales of 65 million KRW. In particular, six young influencers trained jointly by SBC and CJ ENM also conducted practical sales targeting overseas consumers.

Chairman Kim Hak-do stated, "This sourcing fair was urgently promoted after two years to sustain the export vitality of small and medium ventures that are rapidly recovering mainly online despite the COVID-19 pandemic," adding, "We will continue to plan various collaboration models with export-related organizations and specialized companies so that our companies can prepare for the new global environment and create successful cases leading business trends."

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