Korea Midland Power Co. (KOMIPO) toured Electricite Du Laos (EDL) headquarters in Vientiane, Laos, together with its five cooperative companies on Sept. 23. Dispatching of the market exploration delegation was designed to support SMEs’ exploration of overseas markets.
Delegates held technology seminars and buyer negation sessions with EDL to explore opportunities to enter the Laotian power market.
The market exploration delegation, consisting KOMIPO and its cooperative companies, held a session to publicize the SMEs’ products and related technologies and introduce shared growth activities KOMIPO has so far implemented with EDL management and working-level officials in attendance.
The delegates listened to an explanation of the outlines of the Laotian power market, an opportunity in which they got an understanding of the market and they could explore export strategies tailored to local needs.
The market exploration delegation also delivered $7,000 as a money to support the improving of Laos’ educational conditions.
The money came from a fund, part of the sales KOMIPO and its cooperative companies produced while implementing joint innovative activities.
The fund has been reutilized as a pump-priming financial resource to support KOMIPO’s joint overseas market entry with its cooperative companies.
Such a virtuous cycle process is a leading example of helping SMEs step up their capability and giving them a huge leg-up for exploring their overseas markets as well as promoting shared growth.
EDL Executive Vice President Sine Inthavong said, “It is first encounter between KOMIPO and EDL and I hope the meeting will be a good foundation to promote continuous and practical cooperation.”
A KOMIPO official said, “It is quite meaningful for us to not only expand oversea entry opportunities with our cooperative companies through the market exploration market but also implement ESG management there.”
KOMIPO could hold 18 export negotiations worth a combined $310,000 and secure human network by dispatching the market exploration delegation to Laos.
A delegation, consisting of officials from Korea Midland Power Co. (KOMIPO), poses for a group photo while visiting Electricite Du Laos (EDL) headquarters in Vientiane, Laos, on Sept. 23. Delegates held a technology session and a purchase negotiation session with EDL officials.
The power company plans to continue to expand efforts to enter Laotian and Southeast Asian power markets by inviting foreign buyers to Korea.
KOMIPO has been implementing steps to help its cooperative companies expand overseas markets as the power company held foreign buyer invitation sessions for holding export negotiations in April and September.
Next year, KOMIPO plans to continue to hold events to invite foreign buyers in connection of fairs, to be held in Korea by fully reflecting SMEs’ needs.
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