Support for 7,700 SMEs to Participate in Overseas Exhibitions... Integrated Korea Pavilion Expanded to 150 Booths

Ministry of Trade, Industry and Energy's '2024 Overseas Marketing Policy Council'

The government has decided to significantly increase the scale of support for overseas exhibitions targeting small and medium-sized enterprises (SMEs) and the establishment of integrated Korea pavilions.

The Ministry of Trade, Industry and Energy announced that on the 13th, it held the '2024 Overseas Marketing Policy Council' chaired by Choi Woo-seok, Director General of the Trade and Investment Office, to discuss this year's whole-of-government overseas exhibition support plan.

An official from the Ministry of Trade, Industry and Energy explained, "As overseas exhibitions have recently recovered to pre-COVID-19 levels, the demand for participation in overseas exhibitions by small and medium-sized enterprises and mid-sized companies, which had lacked export marketing opportunities, is expected to increase. We plan to significantly expand support for participation in overseas exhibitions by ministries and local governments from 7,182 companies (budget 78.5 billion KRW) last year to 7,740 companies (87.1 billion KRW) this year."

In particular, this year, the ministry plans to focus support on overseas exhibitions related to consumer goods such as food and beauty products leveraging the 'Hallyu' (Korean Wave) in the Southeast Asian market, and machinery and electrical and electronic products responding to digital transformation (DX) and carbon neutrality demand in the European market.

(Photo)

The establishment of integrated Korea pavilions will also be significantly expanded. To help participating companies in overseas exhibitions enhance export performance by utilizing 'Korea Premium' marketing, the number of integrated Korea pavilions at major overseas exhibitions such as the Consumer Electronics Show (CES) and Mobile World Congress (MWC) will be increased from 135 last year to 150 this year. Additionally, on-site marketing support such as buyer discovery and hosting conferences and consultation meetings linked to exhibitions will be provided to improve the performance of companies participating in the integrated Korea pavilions.

Along with this, the number of Hallyu expos leveraging the industrial influence of the Korean Wave will be expanded from two last year to three this year, to be held in Tokyo, Paris, and Jakarta. The ministry plans to strengthen inter-ministerial cooperation by linking cultural programs such as K-pop concerts and fan sign events with excellent product exhibitions. Furthermore, cooperation with related organizations will be further enhanced in recruiting participating companies, attracting buyers, and promoting major exhibitions for promising export items such as food, healthcare, and information and communication technology (ICT).

Director General Choi said, "Overseas exhibitions are the most preferred overseas marketing method for small and medium-sized enterprises and mid-sized companies, and cooperation among related organizations is very important to improve the performance of companies participating in overseas exhibitions. We ask all ministries, local governments, and export-related organizations to collaborate and fully support overseas marketing to achieve the historic export target of 700 billion USD this year through expanding integrated Korea pavilions and holding Hallyu expos linked with K-pop performances."

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