Seongnam City Achieves Export Consultation Milestone of 174 Billion KRW with Overseas Market Development Teams

At the Middle East Market Development Team Event in September
Consultations Worth 18.9 Billion KRW and Contracts Worth 11.7 Billion KRW Promoted
Accelerating Overseas Expansion for Seongnam Companies

Seongnam City in Gyeonggi Province (Mayor: Shin Sangjin) announced on September 12 that it has concluded this year's overseas market development team project with the completion of the Middle East Market Development Team activities in September, achieving a total of 427 export consultations amounting to approximately 174 billion KRW (121 million USD).

Officials from Seongnam City and company representatives participating in the 2025 Seongnam Jungdong Market Development Team are taking a commemorative photo. Provided by Seongnam City

From August 31 to September 5, the city dispatched a market development team composed of 14 local small and medium-sized enterprises in the medibio sector to Dubai, United Arab Emirates. The team achieved consultation results worth 18.9 billion KRW (13.34 million USD) and promoted contracts worth 11.7 billion KRW (8.24 million USD). This slightly surpasses last year's consultation performance in Dubai (18.2 billion KRW, 13.27 million USD), demonstrating steady growth.

This year, Seongnam City has strengthened its support for overseas expansion, recording 123.3 billion KRW in consultations at the World Korean Business Convention in April and 31.8 billion KRW through the Southeast Asia Market Development Team in August.

At this Dubai consultation event, 33 local buyers in the medibio sector participated, resulting in a total of 60 consultations. During the event, beauty device manufacturer Freewind (CEO: Lee Sangbong) and improved drug development company Bioarchers (CEO: Jung Jinkyung) each signed a memorandum of understanding (MOU) for product purchases and joint business initiatives with UAE medical equipment supplier Dorar Medical Equipment and Algerian trading company Safir Aamal el Tijara, respectively, thereby increasing the potential for practical market entry.

A company from Seongnam is having one-on-one consultations with overseas buyers at the 2025 Middle East Market Development Group Export Consultation held in Dubai, United Arab Emirates. Provided by Seongnam City

A Seongnam City official stated, "We will systematically continue post-management, such as supporting overseas branch establishment and certification of standards, so that the results of these export consultations and MOU signings can lead to actual contracts."

Going forward, Seongnam City plans to actively support the global expansion of local companies by participating in overseas exhibitions as a group, including the Malaysia Beauty Expo in October, the China International Import Expo in November, and the Seongnam Pavilion at CES 2026 in January next year.

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