KOTRA’s decision to help domestic 1,400 companies transform into exporters

The Korea Trade-Investment Promotion Agency (KOTRA) plans to foster 1,400 small-and medium-sized enterprises (SMEs) as competent exporters in order to aid the government’s target of elevating the annual export to $2 trillion by 2020. In last year, Korea exported goods and services worth $573.1 billion

The newly appointed head of KOTRA, Kim Jae-hong, said recently that it will choose 1,400 companies focused on the domestic market and encourage them develop into exporters with global market leaderships over the next few years. Toward achieving this goal, the agency plans to help about 420 firms advance into potential markets overseas.

The new president said “It is impossible for Korea to attain its export growth to $2 trillion by 2020 without nurturing small, competitive exporters. “The nation, which has overcome a series of economic downturns by increasing export volume, has to create new growth engines abroad.”

According to KOTRA, it aims to expand the number of exporters to 100,000 by 2017 and nurture at least 400 companies that export items worth $100 million annually through closely cooperating with the Creative Economy Innovation Centers across the nation to nurture startups as exporters.

For providing more comprehensive support to exporters, the body will boost cooperation with the Korea International Trade Association, K-Sure, the Korea Export-Import Bank and other traderelated state agencies.

KOTRA carries out its mission of creating market research and other materials while offering a wider range of consulting services for export. Recognizing its insufficient support for potential export companies, it was determined to work more closely together with other related agencies in an open collaboration to offer the more upgraded comprehensive package of support, including financial assistance.

KOTRA also decided to place a larger emphasis on encouraging enterprises in the areas of entertainment, medical and other services sectors into exporters. Such decision is based on its own analysis of the reality facing the nation – that manufacturing sector-oriented moves cannot alone help Korea to accomplish the nation’s aim of attaining $2trillion in exports. “The nation now needs to help services industry companies sell their goods and services in foreign markets, the president said. We will also support exporters take advantage of booming e-Commerce and other new trade platforms. We will expand our presence in South America and Central Asia for local companies that seek ways to enter swiftly growing markets there,” he said.

KOTRA also plans to assist exporters in using free trade gagreements (FTAs) the nation has signed, focusing on helping companies capitalize on the Korea-China FTA through increasing the number of employees at its offices in China for the growing number of Korean firms operating there.

korean-machinery.com | Blog Magazine of korean-machinery, brands and Goods

Big 5 Show 2014

Korean building & construction material companies set to make strong impact in the Big 5 Show 2014

S. Korean enterprises producing building & construction materials have completed their preparations for their business aim of rediscovering the market potential of the Middle East through participating in the Big 5 Show 2014.

During the show period from Nov. 17 through 20, Korean exhibitors – including 48 companies to be led by KOTRA (Korea Trade-Investment Promotion Agency) at the Korean Pavilion – will strive to expose themselves to potential buyers. This will offer new opportunities for arranging opportunities for their growth in the Middle East building & construction materials market.


Most of the Korean makers are small and mediumsized firms, but they are equipped with still competitive and attractive technologies in the manufacturing of building supplies, repair, electrical engineering, air conditioning, refrigeration, glass construction, cleaning technology, water technology, water supply, sewage water technology, irrigation plants, drilling equipment, sea water desalination plants, generators, measuring equipment, regulating and control technology, control equipment, sewerage, pumps, tubes, valves, and environmental engineering. They are thus expected to attract keen attention among global participants, especially from Middle Eastern buyers considering building business relationships with Korean building & construction material makers.

There are some Korean companies showing their eagerness noticeably with proud solutions offering features that are sure to draw favorable responses at the spot. Alcopanel is one of their kind. Following last year’s impressive performance, this supplier is ready to unveil its flagship materials, updated with newer features, for construction. Including this material provider, Korean makers’ unchanged pace of gradually increasing their global brand awareness in the world market is based on the exceptional advantages they have over their competitors in the global market.

korean-machinery.com | Blog Magazine of korean-machinery, brands and Goods


MIMS2014 to play an invaluable role in supporting the revitalization of the Korean auto industry

A recent Korean automotive industry survey shows continued sluggish trends in terms of production, exports and imports. S. Korea’s vehicle production in June decreased by 4.5% over a year earlier to 380,456 units due to a reduction of exports, in spite of domestic sales increases. Meanwhile, production in the first half of the year was up 2.6% to 2,342,578 units. Domestic sales in June grew by 6.8% year-onyear due to the introduction of new models including a diesel sedan, and sustained high demand for SUVs.

Exports in the same month dropped by 8.2% to 254,675 units compared with the same month of last year, affected by the strong Korean Won and Chevrolet’s withdrawal plans from the EU market, with depressed markets in some countries in Eastern Europe and Latin America. Exports in the first six months of the year are increased by 0.4% to 1,596,198 units.

mims2014Korea’s auto makers and automotive part makers are scheduled to promote their eye-catching items in Moscow through exhibiting at the upcoming MIMS2014, which is to be held from August 26 to 28 in Moscow’s Expocentre, featuring a wider range of spare parts, components, and equipment for vehicle servicing.

Powered by Automechanika, this year’s MIMS is expected to provide a top quality meeting place and gateway to the Russian automotive market, especially for Korean companies seeking to find innovative ways to overcome the continued challenges from the global market. Korean companies are expected to locate themselves as impressive exhibitors and more, along with international companies from Germany, Italy, Spain, France, Serbia, Slovenia, Turkey, Belarus, South Korea, China, and Taiwan.

Equipped with advanced technology in high demand for globally hot solutions, some 30 domestic makers in the field are expected to join the Expo, and their competitive products, ranging from automotive parts and accessories to car maintenance equipment, and others, will be staged at the Korea Pavilion to be run by the Korea Trade-Investment Promotion Agency (KOTRA) and they are expected to attract keen attention from the anticipated 50,000 buyers attending the show from all over the world.

▶Flex pipes (bellows)
▶Brake pads
▶Steering & suspension parts
▶Car alarm system
▶Windshield wiper blade
▶Alternator regulators
▶Network test equipment

korean-machinery.com | Blog Magazine of korean-machinery, brands and Goods