The Ministry of Trade, Industry and Energy (MOTIE) and Korea Trade-Investment Promotion Agency (KOTRA) jointly held the “Middle Market Enterprise Export Booster Negotiation Session” at Lotte Hotel World on Nov. 19.
The session was designed to evaluate outcomes of annual support to middle market enterprises demonstrating excellent products and technologies, and world class product certification companies, as well as offering new trade opportunities with global buyers.
KOTRA expects the session to serve as an opportunity to continue export momentum into a year-end and lead the nation’s achieving the best-ever export performance.
Some 70 global buyers, including Ford, a U.S. automaker, Stellantis, a U.S. automaker, and Marui, a Japanese department store, participated in the session.
The buyers showed a keen interest in Korean raw materials, parts and equipment makers with technology power, as well as premium consumer products, such as excellent quality foods and cosmetics.
In particular, demand apparently increased to diversify the supply chains, converged in specified countries.
One U.S. company official revealed a plan to diversify and expand supply chains in consideration of the U.S. government’s tariff policies against China. His company’s participation in the session was designed to secure the supply chains of Korean middle market companies with technology competitiveness and delivery capabilities, departing from its dependence to China and India.
Contracts and MOUs involving 11 cases worth $16.95 million were struck between nine Korean companies and 11 foreign buyers on the sidelines of the session.
Sixteen Korean companies are expected to sign a combined 62 cases worth some $600 million thanks to support by KOTRA.
Meanwhile, KOTRA hosted a forum-cum-negotiation-session designed to support the business transition of middle market enterprises.
The event served as an opportunity for Korean middle market enterprises to look at insights into future manufacturing trends and discuss new business entry and transition strategies through overseas M&As.
Some 100 people from middle market enterprises and related institutions participated in the event.
KOTRA President Kang Kyung-sung said, “We’re devoting ourselves to achieving the best-ever export performance by stepping up year-end export momentum through support of middle market companies with excellent technology power and products and world top-class product companies.”
KOTRA, Dubia Police Support AI and Self-Driving Companies’ Market Entry to the Middle East
Korea Trade-Investment Promotion Agency held “KOTRA-Dubai Police Global Export Tech Week” in Dubai, the United Arab Emirates, from Nov. 11 to Nov. 14.
The event was designed to explore ways of jointly developing preceding technology areas, such as AI surveillance and inspection, deepfake detection, self-driving, cyber security and smart security and promoting cooperation tailored to meet Dubai police’s needs.
Earlier, Dubai police jointly hosted the first such event with the U.S. MIT Research Center last year.
This year, Dubai Police side asked for KOTRA’s trade office in Dubai to promote cooperation with Korean companies with technology power in areas, such as AI, self-driving and IT sectors.
Dubai police selected and invited 19 Korean companies for potential cooperation areas and offered full support, such as provision of all exhibition space.
The United Arab Emirates revealed a vision of becoming a world top three AI powerhouse and announced Dubai’s future AI blueprint concerning AI in April. Dubai police has a “smart police station,” an interactive, unmanned police station, in place in a pilot program and operates “Amna,” a virtual police officer,” that serves as an AI-based basic report consultation platform.
The latest event was arranged as part of efforts to develop public order and security technologies in the digital and smart sectors.
During the event, KOTRA and Dubai police jointly explored related promising segments. AI technology-based equipment and solution providers, including Nota AI, Techtree Innovation, Airiss, and Yoyo Interactive, participated in the event, which took place in a four-day run.
The event consisted of booth technology consultation, theme presentation in the digital sector, technology IR sessions and brainstorming sessions.
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