Gwangju Buk-gu Gwangyunghap Trade Promotion Team Achieves Remarkable Export Results

Published 23 Apr.2023 14:15(KST)

The Gwangju Metropolitan City Buk-gu Optical Convergence Trade Promotion Team achieved 115 export consultations worth $18.3 million and signed 4 on-site contracts worth $1.7 million in the Philippines and Vietnam.

Gwangju Buk-gu Gwangyunghap Trade Promotion Team Achieves Remarkable Export Results

According to Buk-gu on the 23rd, the 'Optical Convergence Trade Promotion Team,' consisting of 26 members including Moon In, the Buk-gu Mayor, the Optical Industry Promotion Association, and local companies, completed a 5-night, 7-day export consultation schedule from the 16th to the 22nd, visiting Manila, Philippines, and Hanoi, Vietnam, before returning home.

This trade promotion team was planned to support small and medium-sized enterprises facing difficulties in developing overseas markets due to the prolonged COVID-19 pandemic and international political situations causing economic downturns. Twelve promising local companies related to optical convergence in fields such as medical and telecommunications participated.

Accordingly, the trade promotion team signed export MOU contracts with one institution and two organizations, including Antipolo City and the PhilCore Economic Advisory Committee in the Philippines, and the Hanoi Industrial Support Association in Vietnam, and also held export consultation meetings inviting local buyers.

Through active sales strategies for excellent products, they achieved 115 export consultations worth $18.3 million (approximately 24.37 billion KRW) and on-site contract signings worth $1.7 million (approximately 2.26 billion KRW) for 4 cases, including optical connectors, optical cable junction boxes, optical modules and optical sensors, and smart farm control systems.

In particular, the on-site contracts were nearly double the initial target amount of $1 million, which was an outcome beyond expectations, explained a Buk-gu official.

Moon In, the Buk-gu Mayor, said, “We expect the optical convergence industry, a key local sector, to gain momentum through the operation of this trade promotion team,” and added, “We will continue to contribute to the development of overseas markets for local SMEs through comprehensive and multifaceted export support.”