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Held a fair for the final selection of 'Brand K' for representative Korean products

Global Growth Policy
□Held a fair to select the final brand K from the 150 products that passed the 1st and 2nd screening among 1,045 ones in total that applied for this fair.

□Selected representative products by each sector such as K Bio, K Beauty, K Food, and K Living to link them with various export support measures such as funding and sales channels.
On the 29th of April at COEX, the Ministry of SMEs and Startups (Minister Park Young-sun, hereinafter referred to as MSS) held a fair with 100 evaluators for the final selection of 'Brand K', a shared brand for small and medium-sized businesses.
This event was originally scheduled to be held in February, but was postponed due to the policy of refraining large-scale events to prevent further spread of COVID 19.
However, the fair was held under thorough quarantine measures, including compliance with social distancing guidelines to overcome economic crisis and promote export as the situation has been prolonged, and to support the growing K Bio sector in a timely manner.
As 'Brand K' is a representative shared brand for Korean SMEs to enter overseas, the event was jointly hosted by different export-related institutions, including the Korea International Trade Association (KITA), the Medium Business Distribution Center, the Korea SMEs and Startups Agency (KSSA), and the Large Corporations and SMEs Agricultural and Fisheries Cooperation Foundation.
<Overview of the fair with 100 evaluators for the final selection of Brand K>
(Date & Place)        13:00 to 18:00 on (Wed) April 29, 2020, COEX Grand Ballroom (1st floor)
(Participants)          About 280 persons including the Minister, heads of related organizations (KITA, KSSA, etc.), CEOs of corporations and evaluators
(Event Contents)     On-site physical evaluation of 150 final candidates that passed the preliminary screening (100 by competition and 50 by recommendation), and exhibition and promotion of K-Bio products (such as corona diagnostic kits)
(Evaluators) 100 evaluators in total including experts in brand, quality and distribution sectors, and celebrities
* 75 experts such as distribution channel MDs, 20 celebs (entertainers, influencers, etc.), 5 Bio specialists
(PR Plan)    ① ‘Buy Value Live Together' Market Platform ② 'Online public voting ('My Best 5') in connection with live broadcasts of famous influencers (Buzzbean11, Ssinnim and SOF)
(Quarantine Measures)        Conduct thorough on-site quarantine in compliance with the government's “COVID 19 Response Manual”
*Installation of thermal imaging camera and quarantine air curtain at the entrance of the event hall (3 locations), filling out the visitor questionnaire, wearing a mask, hand disinfection, and keeping social distance (2m), etc.
This event was held with 150 products that passed the preliminary screening among 1,045 ones that were applied to 'Brand K' by the company's own application and recommendation by related institutions. 100 evaluators including celebs and experts in each field such as K Bio, K Beauty, and K Food, made a thorough evaluation for the screened products, and in particular, this evaluation was carried out in parallel with public online voting in order to increase the fairness and transparency of the selection process.
For the final selections (Top 10) and the products top-ranked as a result of online voting (Top 5), the ‘Live promotion broadcast of influencers (Buzzbean11, Ssinnim and SOF) with Minister Park Young-sun (6 pm on the 29th of April) was conducted to enhance the promotion effect for the selected products and 'Brand K' policy.
For the 80 products selected today, various benefits will be provided such as KCON participation and operation of online sales booth on the Buy Value Live Together market platform as well as exclusive export vouchers and funding for Brand K. For the top 20 products, various consulting services and sales promotion benefits are also planned, including big data-based consulting to support market entry and strategy establishment by product and special relay sales promotion of representative domestic home shopping companies such as Public Shopping.
Minister Park Young-sun once again emphasized the need for SME export support through 'Brand K', a shared brand utilizing Korea's national image, taking advantage of Korea's current status, which has been raised in the wake of the recent COVID 19, saying "For SMEs with difficulties in the global market entry due to lack of brand power, government guarantee and support through a shared brand using national image are essential."
“The 80 products selected through the final fair are excellent products with global marketability and innovation and I expect these products to fly off the shelves in the global market through various export supports offered by the government as a result of the selection of 'Brand K',” she added.