Korea Pavilion at China Import Expo Draws 88 Companies; Export Consultations Total $170 Million

[Financial News] The Korea International Trade Association helped 88 Korean companies enter the Chinese market at China’s largest import-focused trade fair, securing export consultations worth $170 million (about 250 billion won). As Chinese consumer goods companies grow more competitive, Korean companies are targeting the local market with premium consumer goods such as K-beauty and K-food. The number of companies participating in the Korea Pavilion this year also rose 83% from last year, reflecting strong interest among Korean companies in entering the Chinese market.
The Korea International Trade Association said on the 11th that it had organized the Korea Pavilion for the ninth consecutive year at the 9th China International Import Expo, held from the 5th to the 10th at the National Exhibition and Convention Center (Shanghai) in Shanghai, in collaboration with the Ministry of Trade and Industry. The China International Import Expo is China’s largest import-focused trade fair, organized by the Chinese government to promote opening up to the world and expand trade. This year’s event was the largest ever, with 4,142 companies from 162 countries taking part.
This year, the association set up the Korea Pavilion in the consumer goods and agricultural and seafood products halls in cooperation with four local governments—Busan, Jeonbuk State, North Chungcheong Province and Gangnam District—and three related organizations, including the Public Procurement Service (PPS) and the Gyeonggi and Gyeongbuk Centers for Creative Economy and Innovation.
A total of 88 companies took part in the Korea Pavilion, an 83% increase from 48 last year. Exhibition space also expanded 63%, from 608 square meters to 990 square meters. Fifty-five companies participated in the consumer goods hall and 33 in the food hall, showcasing a range of Korean products, including cosmetics and food.
In particular, the Korea International Trade Association identified around 80 leading Chinese buyer companies in advance and arranged one-on-one export consultations with participating Korean companies. Including meetings with buyers who visited the venue, around 1,200 consultations were held, worth a total of $170 million.
As local companies’ product quality and brand competitiveness rapidly improve in China’s consumer goods market, differentiation strategies are becoming increasingly important for Korean companies as well. Analysts say that rather than competing on price alone, companies need to target the premium market by emphasizing product quality and design, as well as brand image.
The Korea International Trade Association also held marketing events to increase engagement with local consumers. It offered a range of activities—including a K-beauty makeup show, a K-food tasting event, live home shopping, a stamp tour, a photo booth and paper-tile flipping—to build interest in Korean products.
Minister of Trade and Industry Kim Jung-kwan, who visited Shanghai for the expo’s opening, also stopped by the Korea Pavilion to encourage the participating Korean companies.
Lee In-ho, executive vice chairman of the Korea International Trade Association, stressed, “As Chinese consumer goods have become much more competitive, our companies need to expand their presence in the Chinese market on the strength of differentiated quality and design, original ideas and a premium image.” He added, “In line with the government’s policy direction, the association will provide comprehensive support for our companies seeking to enter China’s consumer goods market and take the lead in expanding exports of consumer goods to China.”
[email protected] Kim Dong-ho Reporter