Shin Dong-bin Opens Overseas Markets for SMEs... Brand Expo Held in the US and Germany

200 Excellent Domestic SMEs Participate

Shin Dong-bin, Chairman of Lotte Group.

[Asia Economy Reporter Lim Chun-han] Shin Dong-bin, Chairman of Lotte Group, is launching the largest in-house overseas market expansion project for small and medium-sized enterprises (SMEs) in the United States and Germany.

According to Lotte Group on the 24th, six Lotte distribution companies (Home Shopping, Department Store, Mart, Duty-Free Shop, Hi-Mart, Korea Seven) and the Ministry of SMEs and Startups will hold the "Lotte-Korea Brand Expo" next month in the United States and Germany. This is the first time that the six Lotte distribution companies have carried out overseas market expansion and win-win activities at the group level. At the Korea SME Convention last May, Chairman Shin pledged to coexist with SMEs, stating, "Lotte Holdings and distribution-related affiliates will actively prepare collaboration plans with SMEs."

This Brand Expo is a large-scale overseas market expansion project for SMEs with 200 participating companies. After receiving applications online and offline in June, 100 cooperative SMEs from the six Lotte distribution companies and 100 outstanding domestic SMEs without prior transactions were selected. Lotte will provide various support activities such as producing product promotion content, online and offline promotion, live commerce sales broadcasts using domestic and international TV home shopping and global distribution channels, and one-on-one domestic entry consultations with buyers invited from Lotte distribution affiliates.

Lotte will participate for the first time in the "Berlin International Consumer Electronics Fair (IFA) 2022" held in Germany on the 5th and 6th of next month. They will set up an integrated exhibition booth with 50 excellent SMEs participating, hold product promotion events, and conduct export consultations with multinational buyers. On the 20th and 21st, the second "Lotte-Korea Brand Expo" will be held in Manhattan, New York, with a total of 150 SMEs participating. It will take place at Pier 17 in the southeastern part of Manhattan and will feature product promotion events, export consultations, as well as K-food and beauty shows by famous chefs and artists. During the two Brand Expo events, Lotte will also conduct promotional activities supporting the bid for the "2030 Busan World Expo" using promotional videos and brochures emphasizing the necessity of hosting the Expo.

Chairman Shin said, "There are many excellent SMEs in Korea with global competitiveness capable of competing in the world market," and added, "We will continue to support their overseas market expansion and growth, actively striving to cooperate and grow together."

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