KITA News and Reports
  • KITA held ‘China Business Day’
    2018-05-10

    KITA held ‘China Business Day’

     

    - Successful business consultation meetings with leading buyers, including Alibaba green light to enter into Chinese market -

     

     

    The Korea International Trade Association (Chairman, Kim Young-joo) held 'China Business Day', including ‘'One-on-one Business Consultation Meeting Inviting Promising Buyers from China' and ‘Seminar on Online Market Entry Strategy Utilizing Alibaba', at COEX in Samseong-dong on May 8.

     

    59 leading buyers in China, including Alibaba, which takes up 80 percent of Chinese online market, Lotus supermarket with more than 90 chains in China, Goodwell, China's largest grocery retailer, Intime Retail, a top 500 service company in China, participated in the event and had the business consultation meetings with more than 300 Korean companies.

     

    In particular, Alibaba Group actively participated in business consultation meetings as well as briefings about online store opening by sending China’s overwhelming number one B2C online shopping website Tmall’s TP (Tmall Partners), and China’s number one C2C online shopping mall Taobao’s 21 power sellers.

     

    The Alibaba Group was very interested in new Korean brands and sourcing innovative products and shared vital information and know-how with the Korean companies who were willing to enter into e-commerce market in China by introducing how to open online shopping malls and sales strategies.

     

    A buyer who participated in the conference said, "As the relationship between Korea and China is on the mend and the trade environment has improved recently, it is expected that demand for Korean products in China will increase. The buyer also described the atmosphere of the event, "Thanks to this expectation, the conference was more serious and busy."

     

    Cho Hak-hee, the head of International Affairs Group at the Korea International Trade Association said, "Considering the advantages such as China’s huge market size and easy geographical and cultural accessibility, China is a market that Korea cannot give up. We expect that this event will play a role as a primer to promote the expansion of economic exchanges between Korea and China that are recovering recently by providing an opportunity for rich business exchanges."

     

    The buyers who have finished business consultation meetings in Seoul will go to Daegu on May 10 and have business meetings with the companies in Daegu?Gyeongbuk region.

     

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