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71 “BRAND K" Companies Advancing into the Global Market with Online Video Export Consultations

Division
Global Growth Policy Division
Date
2020.05.26
Writer
MSS
File
Hit
303
Headline
- Holding Online Video Conferences for Export Consultations for "BRAND K" Products -

□Seventy-one BRAND K companies and forty-one influential buyers from eleven countries participated in the second series of teleconference consultations held since last April.

□ The Ministry is fully supporting the follow-up marketing of BRAND K companies' advancement into the global market by helping them sell on global on/offline platforms and special sales events held at global home shopping channels.
The Korean Ministry of SMEs and Startups (Minister Park Young-sun, hereafter "MSS") announced it held online video conferences for export consultations on May 20 (Wednesday) at COEX (Conference Room) for the advancement of "BRAND K" products into the global market. "BRAND K" are a national Co-brand of small and medium enterprises (SMEs) representing Korea.
 
The consultations were held for the second time since last April by MSS in collaboration* with export agencies in order to support the non-face-to-face export consultation of promising Korean SMEs in material-part-equipment, those suffering from the COVID-19 outbreak, and BRAND K companies, to turn the historically unprecedented crisis from the corona virus into new export opportunities.
 
* Thirteen regional offices (Export Support Centers) of MSS collaborated with three export agencies, that is, the Korea SMEs and Startups Agency (KOSMES), Korea International Trade Association (KITA), and KBIZ.
* Video export consultations are being held over 10 times from April until July. In addition, the about 500 participating SMEs are being provided with intensive support, such as non-face-to-face teleconference consultations, follow-up management, and contents produced customized to them.
 
The first series of teleconference were held on April 23 (Thursday) simultaneously by KITA and KOSMES for companies (77) handling the top 5 promising consumer goods and those (56) exporting K-Beauty and K-Quarantine. Thus, 179 video consultations were held with buyers from 54 companies of 16 countries and the participation of 133 Korean SMEs (the consultations resulted in USD 2.4 billion worth of exports).
 
During the second series of video consultations organized this time by KITA, 71 BRAND K companies finally selected on April 29 and 41 buyers from 11 countries participated. The buyers included China's largest on/offline distribution company (Suning.com), Indonesia's largest home shopping vendor company (HIT GLOBAL), and Malaysia's large distribution company (AEON Topvalu).
 
In particular, the buyers from 41 companies who attended the latest consultations werethe largest scale with the highest number of buyers among teleconferences held by KITA on a single day so far. It thus manifested the high interest in and demand for excellent BRAND K products of Korea in the global market.
 
The buyer companies passionately engaged in export consultations showing high interest in K-Quarantine products, such as masks and hand sanitizers, which are drawing attention because of the recent outbreak of COVID-19, as well as K-Beauty and K-Food products, which are leading the Korean Wave.
 
MSS Minister Park who visited the site of the BRAND K consultations, encouraged the supporting agencies and BRAND K companies working hard to advance into the global market despite the difficulties caused by COVID-19 pandemic.
 
Minister Park, who personally participated in an ongoing video conference, explained to local buyers excellence of Korea's BRAND K policies and products, and asked them to show a huge interest in excellent BRAND K products which the Korean government guarantees so that they could be flying off the shelves.
 
Minister Park emphasized the need to support exports of Korean SMEs utilizing BRAND K, a national co-brand representing the Republic of Korea, by tapping the opportunity of the recent rising status of Korea and K-Quarantine because of the country's excellent response to COVID-19.
 
"We will enhance brand publicity, marketing, logistics, and follow-up support so that the value of BRAND K products would be properly recognized with great brand power in the global market as a premium brand representing Korea" Minister Park said.
 
The Ministry plans to hold teleconference consultations again on May 27 (Wednesday) for companies newly advancing into countries in the northern area of the Korean penninsula. Companies that want to participate in the consultations, to be held in collaboration with export agencies until July, can get support by requesting it through the Website of each agency and the Export Support Centers of the MSS regional offices.