ㅇ The Ministry of SMEs and Startups (MSS) holds a “Marketing Festival” designed to showcase outstanding products from Korea’s leading SMEs and help them secure channels to enter the Korean and overseas markets. The MSS (Minister: Hong Jong-hak) announced its plan to hold the 2018 Small Business Marketing Fair, which will help SMEs promote and secure distribution channels for their products, from June 14 to 16 at KINTEX, Ilsan. The fair will bring together 221 businesses (311 booths), and it will consist of a range of programs to alleviate SMEs’ difficulties in finding sales channels and improve consumers’ perception on SME products.
 
① The ministry designated June 4–24 as the IMSTARS Week, which is dedicated to outstanding SME products. It also plans to work with 22 large distributors in the private sector to simultaneously spur multiple marketing efforts.
* Department stores, discount marts, home shopping channels, online marketplaces: special sale events for SME products, SME-only sections, promotion activities for SME products, etc.
 
② The MSS also issued a call for applications for Hidden Star Products from leading Korean SMEs.A total of 211 businesses applied for the qualification round, and five SMEs* were short-listed after a document screening and an experience group review. The five SMEs will showcase their products to consumers in an open-audition program broadcasted live through network channels.
* 360-degree black box; wireless smart cleaner; IoT power control outlet; multifunctional hair dyer; and natural dishwashing detergent
 
- The five Hidden Star Products will be promoted for free by Korea’s top seven home shipping channels with superior selling power*, which is expected to significantly boost their sales.
* CJ, GS, Hyundai, Home and Shopping, Lotte, NS, and Public Home Shopping (in alphabetical order)
 
③ In addition, during the fair, the MSS will help SMEs enlist themselves as sellers in distribution channels by organizing a “Buyer Consulting Session” attended by around 90 representatives from 54 distribution channels in Korea and overseas. In particular, the fair will focus on showcasing consumer products that target overseas buyers looking for K-Wave products (20 buyers across eight countries) to expand export opportunities for SMEs. The countries include United States, Japan, China, Taiwan, Vietnam, Malaysia, UAE, and Ukraine. Moreover, Korea’s 34 leading department stores, discount stores, home shopping channels, and online marketplaces will work together to help SMEs expand their presence in the domestic markets.
④ The fair will consist of eight sections providing overviews of SME products from different sectors, including the SME designer product section, home products section, home interior section, digital appliances section, and fashion and accessories section. All the sections are open to visitors.
 
ㅇ Through the fair, the MSS plans to foster a supportive mood for SMEs’ innovative growth. The ministry also expects the fair to promote a shared growth between large distributors and SMEs in the “Open Innovation” ecosystem.