KOTRA '독 Hanryu Expo' Attracts 15,000 Visitors... 19 Billion KRW Contracts

Co-hosted by the Ministry of Industry... 15,000 Participants from 317 Domestic and International Companies
190 Billion KRW Contracts and MOUs in Advanced Industries, Consumer Goods, and Services

KOTRA announced on the 30th that it held the '2023 Frankfurt Hallyu Expo' on the 29th (local time) in Frankfurt, Germany, together with government ministries such as the Ministry of Trade, Industry and Energy and public institutions.

The opening ceremony was attended by Yoo Jung-yeol, President of KOTRA; Park Jae-young, Director General of Trade Policy at the Ministry of Trade, Industry and Energy; Kim Hong-gyun, Ambassador of the Republic of Korea to Germany; Kim Chun-jin, President of Korea Agro-Fisheries & Food Trade Corporation (aT); and Lim Dae-gyu, President of Hyundai Home Shopping. From Germany, Mike Josef, Mayor of Frankfurt; Rainer Wald-Schmidt, President of the Hessen Trade & Invest GmbH; and Eric Menges, Director of Frankfurt Investment Agency, participated. K-pop groups KARD and STAYC, who are promotional ambassadors for the Hallyu Expo, also attended.

The Hallyu Expo is an export marketing event that promotes excellent products in conjunction with performances. It was held in Europe for the first time in 10 years since the 2013 event in London, UK. This year marks the 140th anniversary of diplomatic relations between Korea and Germany. Germany is Korea’s largest trading partner in Europe. Last year, Korea exported $10.1 billion (approximately 13.3 trillion KRW) to Germany and imported $23.6 billion (approximately 31 trillion KRW) from Germany.

Marketing was promoted in three promising sectors: consumer goods, services, and energy-efficient materials, parts, and equipment. During the one-on-one export consultation sessions held on the 29th and 30th (local time), 117 promising domestic materials, parts, and equipment companies and over 200 European buyers participated, conducting about 900 consultations. Korean companies participating in the event signed 10 contracts and memorandums of understanding (MOUs) worth $14.3 million (approximately 18.8 billion KRW) with buyers.

Yoo Jung-yeol, President of KOTRA, delivering the opening address at the Korea-Germany Future Industry Cooperation Forum jointly hosted by KOTRA and the Frankfurt Chamber of Commerce and Industry to commemorate the 140th anniversary of Korea-Germany diplomatic relations on the 28th (local time) at the Frankfurt Stock Exchange and Chamber of Commerce in Germany.
[Image source=Yonhap News]

To assist entry into the European e-commerce market, KOTRA operated an O2O (Online to Offline) experience center at the expo venue. Products from 44 companies were promoted and sold, including 20 Korean companies listed on Germany’s top online distribution platform, Amazon Germany, and 24 companies listed on Olive Young’s direct overseas shopping mall, Korea’s number one cosmetics export distribution network.

On the 28th, the Korea-Germany Future Industry Cooperation Forum commemorating the 140th anniversary of diplomatic relations and the GP Europe consultation meeting were held at the Frankfurt Chamber of Commerce and Industry. About 200 businesspeople from both countries participated in the forum to discuss cooperation directions in supply chains, digital transformation, and carbon neutrality. The consultation meeting involved 14 domestic future car and semiconductor companies and 14 German companies conducting one-on-one business consultations.

Yoo Jung-yeol, President of KOTRA, said, "Germany is one of the most important partners for economic and cultural exchange in Europe. On the occasion of the 140th anniversary of diplomatic relations, we will strive to expand the ripple effect of Hallyu from consumer goods to advanced industries such as services and green technology in Germany, strengthening economic cooperation between the two countries."

Additionally, KOTRA stated that it installed a '2030 Busan World Expo Bid Promotion Pavilion' at the expo to attract the attention of German government officials and European businesspeople.

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