KITA Participated in “The 3rd China International
Import Expo” Despite COVID-19
- 72 Korean companies that
can be represented by local branches, agents and KITA participated -
The Korea International Trade Association (Chairman:
Kim Young-ju) announced that he participated in the 3rd China
International Import Expo held at the National Exhibition and Convention Center
(NECC) in Shanghai, China from November 5th to 10th with
72 Korean companies.
China International Import Expo is President Xi
Jinping’s major business and more than 3,900 companies from 180 countries and
regions participated last year and it had a constant stream of around 500,000
Chinese visitors.
In the participation demand survey conducted earlier
this year, Korean companies also had high expectations for this year's fair as
300 companies expressed their intention to participate. However, as China
reinforced its quarantine guidelines due to the volatile spread of COVID-19, it
had become impossible for Korean companies to participate in person.
Accordingly, the Korea International Trade Association participated in the expo
with 72 companies that have branches and agents in China and the companies that
the association can represent.
The Korea International Trade Association provided
Wanghong (influencer) marketing and online buyer consultation support for the
participating companies. At the same time, the organization collaborated with
Sandbox, a leading company in the multi-channel network (MCN) industry, to
promote local ptomotional activities and video production through creators in
China and increased synergy effect. In addition, the Korea International Trade
Association had signed a business agreement (MOU) with the China Economic
Network, one of the top three major Chinese government-run media upon its
participation in the very first exhibition in 2018. The association supported
interviews and on-site coverage with the China Economic Network and made
efforts to facilitate local PR activities in China.
Meanwhile, although the expo was somewhat smaller than
in previous years, it was a large-scale event held offline and various business
opportunities were being captured. Company D, which handles processed foods,
said, “A large buyer in Beijing has requested to sign an MOU worth 3 million
dollars, and expressed his expectation by adding, “Feedback from the buyers who
visited the site was better than expected and I think we will be able to find a
clue to overcome the difficult business situation in COVID-19 crisis.”
NUC Electronics signed an MOU worth 100 million yuan
with Suning Group, a large online and offline distribution company in China, at
the first exhibition and the company has kept participating in the fair every
year since then. An official at NUC Electronics said, “There were great
difficulties in business activities this year, but we cannot give up Chinese
market. So, we expanded our participation scale compared to last year,” and
added, “The sales will recover naturally when COVID-19 pandemic slows down.”
Cho Hak-hee, head of the International Affairs Group at the Korea International
Trade Association, said, “Since the outbreak of COVID-19, e-commerce has become
more active in China, and the incorporating between the 4th
industrial technologies such as artificial intelligence (AI), robots, big data,
and Internet of Things (IoT) and consumer market has become active,” and added,
“Not only the existing manufacturing industry, but also the new businesses
created by the convergence between sectors as well as industries are the
opportunities that Korean companies should not miss.”
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