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Trade Week 2021 offers export opportunities for SMEs

Dec. 15, 2021 - 16:14 By Kang Jae-eun
An employee from a local SME holds a meeting with a foreign buyer at the Trade Week 2021‘s Online Biz Matching session. (Trade Week 2021 Organizing Committee)

Trade Week 2021 ended its four-day run on Friday, connecting local small and medium sized enterprises with foreign buyers and inviting experts to share insights on globalization strategies.

Organized by the Seoul Business Agency, the event offered various business opportunities for participating small enterprises through programs such as online business matching with foreign buyers, live commerce sessions and product launch events.

Local daily necessities maker CM Company inked a deal with Japanese retailer Doshisa to export its non-liquid mouth rinse products to the neighboring country. Another small Korean food maker, Mealsone, inked a $500,000 deal with Hong Kong’s Echo Asia Group Limited, organizers said.

Various business leaders in the field of ecommerce, beauty, and food, as well as the well-known behavioral scientist John Levy, took to the stage and shared their thoughts on future trends in trade and export strategies. Individuals can watch the full seminars on Trade Week 2021’s official YouTube channel. 

Business leaders share their insights on global trade strategies for small and medium enterprises during a panel discussion held at the Trade Week 2021 on Sebitseom last week. (Trade Week 2021 Organizing Committee)

A select number of small-sized Korean companies had the opportunity to promote their products to Chinese and Southeast Asian consumers through live commerce platforms. China’s Taobao, Southeast Asia’s largest live commerce platform WebTVAsia, and Korea’s Naver Shopping Live participated in the event.

Aside from live commerce and online consultations, four selected Korean SMEs held a launching event of their products. Of them, WARP Solution’s wireless chargers and lights garnered the most attention from international buyers, the event organizers said. The company will showcase its products at the 2022 Consumer Electronics Show in Las Vegas next year.

“We hope the various programs at our first Trade Week event provided help to local SMES. We expect the event could further raise Seoul’s reputation as a global trade hub. The SBA will continue to support small enterprises by organizing similar programs,” said the organization’s CEO Kim Hyun-woo.

The event took place from Dec. 7-10 at the FIC Convention Hall on Sebitseom. Around 300 small sized local companies partook in more than 1,200 online consultations and met with around 500 buyers from 28 countries across the globe.