ZHENGZHOU, China ― The South Korean government and a Chinese distribution giant have agreed to promote products of Korean small and medium-sized companies in Henan province in central mainland China, Seoul officials said Monday.
The agreement was reached between Han Jung-hwa, head of Korea’s Small and Medium Business Administration, and Wang Rensheng, chairman of Dennis Group.
Officials of Korea’s Small and Medium Business Administration and executives of Dennis Group pose after signing an agreement to promote the products of Korean SMEs in China’s Henan province. (SMBA)
SMBA administrator Han visited China for a series of meetings with Chinese officials and business leaders to discuss the entry of products made by Korean SMEs into the central region of China.
Other agreements included the opening of the exclusive shop K-HIT PLAZA in Dennis Group’s department stores and other distribution networks for Korean SME products that have gained positive responses from the locals.
Dennis Group is a Taiwanese retail corporation that grossed $2.51 billion in 2012 and runs 16 department stores, 44 supermarkets and 118 convenience stores solely within Henan province, the heartland of central China.
After the meeting with Wang, Han attended the MOU signing ceremony held between the SMBA and Dennis Group.
During the ceremony, Han requested that Wang and Dennis Group officials allow active distribution of Korean SMEs’ products through the group’s network within China.
“Through this MOU, a bridgehead to inland China for Korean SME products has been established,” Han said.
“We welcome Korean SME’s first step into Henan province, an emerging center for Chinese economic development,” Wang said in response “We (Dennis Group) will not spare any support for Korean SMEs’ successful establishment in China.”
China pushed development policies centered on the eastern-coastal region in special economic zones after the Great Leap Forward. However, from the mid-2000s, China began aiming for balanced development and continuous economic growth by introducing development policies for inland China.
By Lee Kwon-hyung, Korea Herald correspondent
(
kwonhl@heraldcorp.com)
Intern reporter Ha Ji-won contributed to this article.