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MSS held “Global Business Sourcing Fair 2019” participated by international buyers of 200 companies from 40 countries

The Ministry of SMEs and Startups (Minister Park Young-sun, hereafter “MSS”), Korea SMEs and Startups Agency (President Lee Sang-jik), and Korea Foundation for Cooperation of Large & Small Business, Rural Affairs (Secretary General Kim Soon-chul) announced that they will jointly hold the “Global Business Sourcing Fair 2019)” for two days from August 21 (Wed) to 22 (Thu), in the A Hall of COEX, Gangnam-gu, Seoul.
This year, the Global Business Sourcing Fair marked 5th anniversary, as it started in 2015. Participated by international buyers of 200 companies from 40 countries and 1,000 Korean SMEs, the fair is widely known for the largest event in Korea for SMEs' export.
The main program of this event is the one-to-one export consultation for an SME to have a meeting with a pre-matched international buyer who expects the sourcing from Korean SMEs for consumer goods sold in a distribution network of its country (large supermarkets, department stores, online shops, and home shopping).
In addition, various booths are operated such as the promotion booth to exhibit promising products from 80 companies, the smart innovation booth to provide an experience of the change by the 4th industrial revolution, and the K-wave booth to introduce K-beauty and K-food.
Also, as part of promoting the V-Commerce which is being rapidly developed as a new type of business transaction, it will hold side events such as demonstration and PR by the invited influencers from China and Vietnam and the "Startups Pitching" to support the youth to advance global market.
With the diverse programs and events, it is expected to achieve the export of 20 million dollars (USD 16.7 million in 2018).
Meanwhile, the international buyers attending the fair are mostly from the companies (98) in the fields of beauty & health, daily products, fashion & accessories, and foods of Vietnam, Indonesia, Singapore, and other countries in North-East Asia, indicating the great interest in K-beauty and K-food with the expanding Korean wave.