Vivek Sharma
NEW DELHI: Korea has extended an open
invitation to the Indian businessmen interested in cosmetics, healthcare,
sports, interior designing, personal hygiene, and other consumer goods to come
to ‘Korea Fair in India’
With this, the Indian businessmen
stand a chance to interact on one-on-one basis with the representative of T
here and also have a closer look at the products being exhibited by them.
‘Korea Fair in India’ is the
first-ever Korean products fair of this kind happening in India.
According to the KOTRA officials, the
Korea Fair in India will offer an opportunity to the Indian businessmen
especially the owners, importers, small & medium enterprises (SMEs) to not
only look at the products on display, but they would also be able to interact
with the Korean counterparts to explore future business prospects.
About 15-16 of the Korean companies
participating in the Korea Fair in India are Korean startups. Also, a number of
Korean investors and venture capitalists (VCs) are also participating in the
event.
Some of the Korean companies
exhibiting their beauty products include Hybio, BioMiracle, Dionekorea,
RoseRoseShop, Pretty Skin, and IMS Korea.
Other Korean companies in the
consumer goods section are Blue, Mom Healthcare, Waters, Air Vision, Nature Su,
FISCO, Noah Creative Lab and Bags in Bag.
On the display are the products like
dusk masks and safety systems, health belt, power chip, protectors, alkaline
water generators & purifiers, eco-friendly body care detergents, fabric
refresher, pet odor removers, highly functional air filters, bamboo cotton
sanitary pads, and fashion bags & travel pouches.
Since 1962 as part of Korea’s first
5-year Economic Plan, KOTRA has been dedicated to creating new export markets
and increasing Korea’s trade value, which reached $1 trillion in 2011. In the
late 1990s, the agency helped Korea overcome the Financial Crisis by starting
its foreign direct investment promotion division.
And in the last half-century, KOTRA
has played a significant role in supporting Korean companies expanding
overseas. In preparation for a rapidly changing market environment, and using
Korea’s expansive FTA network, KOTRA is focusing on the globalization of SMEs,
the backbone of the Korean economy, by providing them with customized support
related to global business establishment and export. To further expand Korea’s
trade sector, KOTRA is increasing the exports of new growth industries such as
the knowledge service industry, medical-bio industry, and green industry.
The culture-based Korean Wave is
making economic waves as well with its high
export value. By supporting these and
other industries, KOTRA contributes to the economic development of Korea and
developing countries through technological innovation, industrial
infrastructure formation, and HR development.
“We are approaching the Indian market for mutual benefit, and are organizing
Korea India Economic cooperation week, and 10 trade promotional events happened
simultaneously in India and Korea. In one such event in New Delhi, 45 Korean
SMEs and startups interacted with Indian businessmen during ‘Korea Fair in
India’ and turnout of Indians including venture capitalists was huge,” Moon
Young Kim, president, Southwest Asia, Korea Trade-Investment Promotion Agency
(KOTRA).Korea has a total number of 600 companies operating in India with Hyundai, Samsung, KIA, and LG being the leading companies. The focus areas of these companies are South and North India around Chennai and New Delhi. The bilateral trade between the two countries had reached US$20 billion in 2018.
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