Martial Arts, Amazon B2B and Conference... "Massive US Sales Without Local Buyers"

Sharing Success Stories of K-ABC and More

Trade Tower, Korea International Trade Association, Samseong-dong, Gangnam-gu, Seoul. (Photo by Korea International Trade Association)

[Asia Economy Reporter Moon Chaeseok] Small and medium-sized enterprises (SMEs) are expected to have a new opportunity to sell products in bulk to U.S. companies and others without going through local buyers by using Amazon's B2B (business-to-business) platform.

The Korea International Trade Association (KITA) announced on the 5th that it will hold the "2022 Global E-commerce Conference" jointly with Amazon Global Selling Korea at the Trade Tower in Samseong-dong, Gangnam-gu, Seoul.

At the event, KITA and Amazon Global Selling Korea will share success stories of the K-ABC project, which has been jointly implemented since 2017, as well as the latest trends in marketing, certification, data, and logistics in the e-commerce sector. The K-ABC project is a program that supports SMEs' overseas expansion through Amazon Business, Amazon's B2B marketplace used by corporate and institutional buyers, in collaboration with KITA. So far, it has supported over 170 companies. This year, based on 60 participating companies, cumulative sales reached $9 million (approximately 12.8 billion KRW).

Shin Dong-gi, manager of Amazon Global Selling Korea, said, "By utilizing Amazon Business, it is possible to sell large quantities directly to U.S. companies, government agencies, and schools without going through local buyers." He added, "Recently, there has been active bulk purchasing of educational electronics such as lecture microphones and document scanners, as well as assembled office furniture, with notable growth in kitchenware and automotive products."

Park Jung-eun, manager at UL Korea, an international certification company, guided essential testing and certification procedures for items such as baby products, food, and cosmetics. She emphasized, "Especially, the California law on hazardous chemicals is expanding its scope every year, and since there are currently about 2,400 lawsuits filed regarding Amazon products, caution is necessary."

At the event, Company A, a manufacturer of posture correction chairs and a success story of the K-ABC support project, said, "In the early stages of entering Amazon Business, differentiating products through competitor analysis and promptly reflecting weekly customer reviews and consumer evaluations on product pages led to sales growth." They added, "Thanks to professional advice on product registration, advertising, and inventory management from KITA and Amazon Global Selling Korea, we successfully established ourselves in the U.S. market."

Kim Hyun-chul, head of KITA's Global Cooperation Headquarters, said, "Entering overseas platforms like Amazon is advantageous for global brand promotion and discovering new buyers, so we will strengthen cooperation with famous overseas platforms."

KITA is recruiting participating companies for next year's K-ABC program. The application period is from the 1st to the 31st of this month. The target is 20 domestic SMEs. Selected companies will receive support for accounts, advertising, logistics costs, and customized consulting. Detailed information can be found in the announcements section on the KITA website.

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