Trade promotion agency to host China export fair

SEOUL, April 26 (Yonhap) -- South Korea's state-run trade promotion agency said
Sunday it will hold a trade fair this week to help local companies expand sales
in the vast Chinese market.

Tuesday's fair in southern Seoul will involve 28 large distributors that operate
extensive retail chains in China and could help local companies increase their
market presence there, the Korea Trade-Investment Promotion Agency (KOTRA) said.
It said 300 local companies, encompassing both large conglomerates and small- and
medium-sized enterprises, will conduct at least 300 discussions on prospective
sales to both multinationals and Chinese companies.
KOTRA said multinational companies like Best Buy, Auchan, Alliance Boots will
also be on hand to hold talks with manufacturers. Chinese and Taiwan-based
companies including China Resources Vanguard Co., Hualian Group, Eastern and
Wellcome with extensive marketing networks will also be present.
"The trade fair should provide a good chance for local companies to meet directly
with large distributors that can help them sell goods in China," an official for
the agency said.
He said depending on deals that could be signed, the gathering could help sales
to other countries.
Seoul, meanwhile, has been pushing to increase exports to China, the No. 1
overseas market for locally made goods.
Sales to China made up 21.9 percent of all outbound products last year, but
numbers have fallen sharply due to the current worldwide economic crunch.
Government policymakers said that in order to increase exports, local firms need
to pay more attention to the Chinese domestic market that may benefit the most
from Beijing's economic stimulus programs.
At present, half of all South Korean shipments go to affiliates operating in the
country that assembles parts for export to third countries, with another quarter
going to multinationals. Only the remaining 25 percent of products are sold
directly to Chinese consumers.
yonngong@yna.co.kr
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