Daegu Mayor Hong Jun-pyo Establishes Partnership with Middle East's Largest Online Company 'Noon.com'

‘Gateway for Daegu Companies to Enter the Middle East’

Local Agreement Signed in Dubai

Hong Jun-pyo, Mayor of Daegu, who embarked on a business trip to Dubai, Singapore, Malaysia, and Australia, signed a business agreement and established strategic cooperation at the Dubai headquarters of noon.com (hereinafter referred to as Noon.com), the largest local online platform company known as the "Amazon of the Middle East," on the 18th.

Through the business agreement with a leading local online platform and distribution company, a foothold has been established for regional companies to advance into the Middle Eastern overseas market.

Noon.com is a joint venture between the Saudi sovereign wealth fund and EMAAR, the largest real estate developer in the Middle East. Known as the Amazon of the Middle East, it is an online platform company that owns the largest distribution channels across the Middle East and North Africa region.

Noon.com Dubai Headquarters.

The cooperation between Daegu City and Noon.com was triggered when Noon.com visited Daegu last December and participated as a buyer in the "Daegu-Gyeongbuk Overseas Marketing Expo," showing interest in local companies.

Mayor Hong Jun-pyo and Faraz Khalid, CEO of Noon.com, signed a strategic cooperation agreement combining the strengths of consumer goods and light industrial material companies based in Daegu with Noon.com’s distribution influence across the UAE and the Middle East and North Africa region. This cooperation aims for regional companies to succeed in exports and local market entry, while Noon.com becomes a strong leader in the local online market.

The main content of the agreement is to secure export channels for regional companies by providing business opportunities for local market entry. Daegu City will actively discover excellent local products and mutually cooperate to revitalize online sales business in the local market. The city expects this agreement to serve as a cornerstone for the entry of regional consumer goods and light industrial material companies into the Middle East.

Additionally, in the second half of this year, Noon.com plans to invite Korean product distribution buyers who have entered the company to Daegu to hold a "Middle East Big Buyer Invitation Export Consultation Meeting."

Daegu’s exports to the UAE have been gradually increasing, with $45 million in 2020, $71 million in 2021, and $83 million in 2022. However, as of 2022, exports to the UAE account for only 0.8% of the region’s total exports, and the main export items are limited to automobile parts and polyester fabrics for traditional clothing. Therefore, it is necessary to actively exchange and cooperate with UAE companies to expand exports to the UAE.

On April 13, following the passage of the "Daegu-Gyeongbuk Integrated New Airport Special Act" in the National Assembly, which will promote the integrated new airport construction project in earnest, Mayor Hong plans to visit the Dubai Airport Free Zone, a hub for UAE air trade, to inspect the development process and current status as part of formulating a development strategy for the integrated new airport economic zone and the creation of an advanced industrial city centered on aviation and logistics.

Mayor Hong Jun-pyo of Daegu said, “Considering the importance of the UAE as an economic and logistics hub connecting Europe, Asia, and Africa, this cooperation with Noon.com holds great significance for diversifying regional export items and pioneering overseas markets. Daegu City will continue to strive to expand export channels for local companies through more strategic trade support.”

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