Japanese Buyer, “Korean Black Box is Great”
-KITA Held Korea Trade Show Tokyo 2014 -
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Korea International Trade Association (president Duck-soo Han) held Korea Trade Show Tokyo 2014 on April 15 and 16 at an event hall of Tokyo International Forum located in Chiyodagu, Tokyo to help more Korean small-and-medium-sized companies to enter Japanese market.
The trade show marks its 13th anniversary this year, in which exhibition and business meeting on Korean products are held. 82 Korean small-and-medium-sized companies selected by 9 local governments in Korea including Gyeonggi, Daegu and Gyeongbuk participate in the trade show to explore Japanese market focusing on consumer goods with high preference in Japan including black box for automobile, light emitting diode (LED) lights, beauty products and idea products.
About 1,000 people from 800 Japanese distribution companies and importers including Tokyu Hands, Mitsui Trading Chemical and Hitachi High Tech Materials visited the exhibition to have a one-on-one business meeting with Korean companies and booths for automobile black box, whose technology is well recognized by the world, electronic air absorption mat, which is installed at the entrance of building, and beauty products including skin care products were crowded with people. CEO Seo Chung-won of Sanmeoru Farm located in Gyeonggi-do boasted tangible results saying “120,000 dollar contract was signed with Japanese home shopping company M and relevant people from M will visit my plant in late May”.
Recently the attention tends to be shifted to Chinese domestic market, but Japan is still an attractive market for Korean companies. Japan is a huge market with population of 120 million and economic scale which is four times bigger than that of Korea. Trading cost including logistics cost in Japan is low and long-term trade is possible once the deal is made.
Senior Managing Director Kim Moo-han of KITA emphasized “condition to export Korean products to Japan is worsened temporarily with the impact of consumption tax in Japan under weak yen condition, but it is time to target Japanese market in a long-term view as Japanese economy is expected to escape downturn and continue moderate restoration”.
