To Expand Marketing for Korean Products to Target the Middle Class in Indonesia
-KITA held “The 1st Korea Sourcing Fair in Indonesia” in Jakarta-
'KITA(Korea International Trade Association) is a public-private organization that has developed tradeKorea.com. As a leader in advancing export strategies, trade systems and procedures, KITA supports SMEs to find new customers and secures a wide range of business connections through
tradeKorea.com database. If you want to know more about KITA, please click here.
The Korea International Trade Association (Chairman, Han Duck-soo) hosted “The 1st Korea Sourcing Fair in Indonesia” in Jakarta International Expo on Thursday, August, 8.
This fair was held simultaneously with the China Sourcing Fair organized by the Global Sources, which is the professional exhibition company that has organized fairs in major countries such as India, Latin America, Hong-Kong, etc.. The 600 promising small and mid-sized companies from both Korea and China participated in the event and introduced various excellent products to Indonesia.
Indonesia is the 4th largest country, in terms of population, which used to be popular for the production site due to the low labor cost. However, recently, the size of middle class has been enlarged rapidly in accordance with the economic development and the country has become a huge consumer market with purchasing power. The middle class in Indonesia increased by 20 percent from 37 percent in 2004 to 56.7 percent last year. It is forecast to create a consumer market which is worth 1 trillion dollars in 2030.
The KITA selected 30 promising exporters in cooperation with the local governments including Gwangju City, South Chungcheong Province and North Jeolla Province, to help Korean companies expand their exports to Indonesia. Those selected companies showed quality and unique products such as consumer goods, home appliances, beverages, and cosmetics that can be directly benefited from the Korean Wave. The companies had one on one business meetings not only with the exhibition visitors but also with the decent buyers who had been invited in advance by the KITA to discuss the possibilities of entering into the Indonesian market.
The senior executive managing director of KITA, Kim Moo-han, who headed this event, said “The GDP of Indonesia has been maintained above 3,000 US dollars since 2012 and durable consumer goods are becoming more popular.” He also stated “KITA is supporting Korean companies to enter into the Indonesian market via establishing the active strategies, such as building a local marketing office in Indonesia to find decent Indonesian buyers, in an attempt to gain an early edge, along with this fair.”
