Hwaseong City Breaks into 1.425 Billion-Person Indian Market... Achieves 153 Export Consultations and 2 MOUs

Hwaseong Special City Dispatches South Asia Market Development Team
Export Consultations Held in Mumbai and Chennai, India
Eight Promising Local Companies Participate
Expanding Export Channels for K-Beauty and Heavy Equipment

Hwaseong Special City in Gyeonggi Province announced on April 10 that it has successfully concluded the 'Hwaseong Special City South Asia Market Development Team' project, its first overseas market development initiative for this year.

Officials from Hwaseong Special City and participating companies of the market development team are taking a group commemorative photo at the '2026 Hwaseong City South Asia Market Development Team' export consultation held in Mumbai, India. Provided by Hwaseong City

This project involved the participation of eight local companies, which held export consultation meetings in Mumbai and Chennai, India, for seven days and five nights from April 5 to 11.

In particular, with K-Beauty receiving significant attention, the city made a strategic decision to designate India as a dispatch country for the market development team again this year, following last year, based on the view that entry into the Indian market is essential and must be attempted despite its challenges. India, with its high economic growth rate and a population of 1.425 billion, has established itself as a key economic hub in the global market.

Furthermore, the Korea-India Comprehensive Economic Partnership Agreement (CEPA) has steadily increased trade volume between the two countries, making India an increasingly attractive export market.

Through the export consultations held in both regions, participating companies engaged in a total of 153 meetings. Notably, Hydus Co., Ltd., which handles heavy equipment, and Seoul Trend, which deals in cosmetics, each signed a memorandum of understanding (MOU) with buyers met in India.

Lim Hyeongtaek, CEO of MH Company, said, “I decided to relocate my business two years ago after learning about Hwaseong Special City’s support policies while operating in another local government. I truly feel that Hwaseong is a business-friendly city, thanks to its systematic support for funding, R&D, and exports.”

Park Hongseo, policy chief for Corporate Investment, stated, “We will continue to actively support local companies so they can enter markets that are difficult to access independently. Through these efforts, we hope our regional businesses will further expand into the global market.”

Meanwhile, Hwaseong Special City is realizing its vision of being a business-friendly city by continuously promoting various export support initiatives—including the operation of market development teams and joint pavilions at overseas exhibitions—centered on its Export Work Support Center in collaboration with the Hwaseong Chamber of Commerce and Industry, KOTRA, and the Korea SMEs and Startups Agency.

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