KOTRA Hosts Korea's Largest Domestic Buyer Matching Event 'BoomUp Korea' with Over 1,300 Companies Participating

Consultations with Over 300 Global Companies and 1,500 Cases
25 Export Contracts Worth 21.1 Billion Won Signed

[Asia Economy Reporter Moon Chaeseok] The government and KOTRA announced on the 1st that they will hold '2022 Boom-up Korea,' the largest offline export consultation event in Korea, to support domestic companies' overseas exports.

Hosted by the Ministry of Trade, Industry and Energy and organized by KOTRA, the event will be held for two days starting today at COEX in Samseong-dong, Gangnam-gu, Seoul. This event, funded with additional government budget, aims to support Korean companies suffering from severe export slumps and to improve the trade balance.

As the largest offline export consultation event in Korea, it is expected to produce tangible export results such as on-site contracts and Memorandums of Understanding (MOUs). Furthermore, it is anticipated to create an overall export boom atmosphere in the export field.

The export consultation event will host over 300 global buyers from four strategic industries: materials, parts and equipment; nuclear power and plants (energy); information and communication technology (ICT) services; and consumer goods and bio sectors. Over two days, 1,301 domestic companies will conduct more than 1,500 one-on-one business consultations.

KOTRA plans to focus on achieving short-term results such as on-site contracts and MOUs by inviting a large number of influential buyers, given the additional government budget allocated to the event.

Invited buyers include Bosch, Germany's largest automotive parts company; Arcelik, Turkey's number one home appliance company; ZARMEN from Poland, a country seeking cooperation in the nuclear power sector; and FPT Software, a subsidiary of FPT Group, Vietnam's largest ICT group.

At the export consultation site, 25 export contracts worth $16 million (approximately 21.1 billion KRW) are expected to be signed through pre-arranged consultations. Additionally, 20 MOUs worth $29 million (approximately 38.3 billion KRW) confirming export contract intentions will also be signed.

Major side events include seminars on 'Nuclear Power Equipment Procurement Policy' and 'Denmark Offshore Wind Power Procurement Policy and R&D Cooperation Plans.' Twelve innovative companies in the convergence industry sector will participate and conduct side events such as live video platforms.

Yoo Jung-yeol, President of KOTRA, said, "In a situation where export conditions are difficult due to various global issues, we are holding this event to support the revitalization of domestic companies' exports. Next year as well, we will concentrate KOTRA's full capabilities to actively assist domestic export companies."

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