"Opening New Northern Markets"... KOTRA Hosts CIS Online Exhibition of Excellent Korean Products

Support for 170 Domestic Small and Medium Enterprises and Mid-sized Companies to Enter Local Markets

Photo by KOTRA

[Asia Economy Reporter Kim Heung-soon] KOTRA announced on the 5th that it will hold an online Korean Excellent Products Exhibition for the CIS to help our small and medium-sized enterprises (SMEs) and mid-sized companies enter the consumer goods market in the Commonwealth of Independent States (CIS) region until the 1st of next month.

This event features 170 promising domestic consumer goods companies in beauty, food, small home appliances, and healthcare sectors, introducing over 300 products in the B2B platform 'BuyKorea' online exhibition hall. Among them, 102 Korean cosmetics companies, whose products are popular in the CIS region, will participate to showcase K-Beauty products.

Korean cosmetics have been steadily expanding their market share in the CIS market every year. Last year, although Korea's exports to Russia decreased by 21% compared to the previous year, cosmetics exports increased by 15%.

The online market growth speed in these regions is also very rapid. The Russian e-commerce market grew at an average annual rate of 21.1% from 2010 to 2021. The e-commerce market size in Kazakhstan is also rapidly increasing by more than 20% annually.

Lee Jung-hoon, Head of the CIS Regional Headquarters, said, "Starting with the K-Beauty products introduced at this Korean products exhibition, we will widely promote various Korean consumer goods to contribute to expanding the export base of our companies in the CIS."

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