SME Premium K-Appliances Seek European Market at IFA 2022

KOTRA Collaborates with Lotte Group to Host '2022 Korea Brand Expo' at IFA
50 SMEs Participate to Showcase Domestic Premium Home Appliances to European Buyers

At the '2022 Korea Brand Expo' held at the IFA 2022 exhibition, a buyer meeting for the export consultation was in progress / Source=KOTRA

[Asia Economy Reporter Kim Pyeonghwa] The Korea Trade-Investment Promotion Agency (KOTRA), in collaboration with Lotte Group (Chairman Shin Dong-bin) and the Foundation for Large, Small and Medium Enterprises and Agriculture-Fishery Cooperation, held the '2022 Korea Brand Expo' from the 5th to the 6th. The event was organized to help domestic small and medium-sized home appliance companies explore European markets.

This expo was held in conjunction with 'IFA 2022,' the largest European home appliance exhibition held in Berlin, Germany. At the IFA Messe Berlin exhibition center, a B2B export consultation meeting and on-site promotional activities were conducted simultaneously. Since the European home appliance market has a high demand for premium home appliances, 50 domestic premium small and medium-sized home appliance companies exhibited their products at the venue. A total of 180 on-site consultations with buyers were also conducted.

KOTRA reported that, amid the deepening European energy crisis due to the Russia-Ukraine conflict, there was a high level of buyer interest in energy-saving products such as direct water purifiers using heat conduction modules at this expo.

At this event, Richter, the purchasing director of Germany's QVC, who consulted with five domestic companies, said, "It was meaningful to learn that there are many premium home appliance companies in Korea with excellent technology besides Samsung and LG," adding, "We will expand business cooperation going forward."

After completing on-site consultations on the 6th, KOTRA plans to continue online export consultations through the Brand Expo website and KOTRA's online B2B e-commerce platform (BuyKorea) special exhibition hall until the end of this month.

An Seongjun, head of KOTRA's Consumer Goods and Bio Division, stated, "Europe is a market leading global consumer goods trends such as eco-friendly, vegan, and ethical management, in addition to premium home appliances," and added, "KOTRA will continue to closely monitor European market trends and proactively support the export of consumer goods by our small and medium-sized enterprises."

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