SMEs Participated in Economic
Delegation to Singapore Achieved Exports and Investment
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Participation in ‘Presidential Economic Delegation’ is equivalent to the
official certification of excellent enterprise… It acts as
a premium during negotiation -
The Korean small and
medium-sized companies, who accompanied President Moon Jae-in's visit to
Singapore, are making progress in their exports.
The Korea International Trade
Association (Chairman, Kim Young-joo) announced that as a result of sending the
economic delegation consisting 76 companies and 130 participants along with a
state visit of President Moon Jae-in to Singapore for three days from July 11,
Korean small and medium-sized businesses have achieved substantial performances
such as export contracts, investment consultation, and network establishment.
Mordam Korea (CEO, Ko
Eun-joo), a manufacturer of natural herbal soap, signed a 500 million won deal
with a local distributor, The Urban Clinic, when visited Singapore as the
economic delegation. The Urban Clinic is a beauty and pharmaceutical
distribution company with off-line stores, including pharmacies, not only in
Singapore but also in Malaysia and Thailand.
The CEO Ko Eun-joo said,
"We preferred the indirect export through the agent because the amount of
export was small. But, now we are able to carry out the formal customs
clearance upon the export contract with Singapore.” She added, "As the volume of exports increases, we will also
recruit experienced personnel who will be dedicated to the export
business." The CEO was very thrilled and said, “We
have achieved half of this year’s projected sales of 1 billion won through the
Singapore delegation. Unlike Japanese products, our products were left in the
cold. Sorrow experiences in the Singapore market have been resolved at once.”
Mesh Korea (CEO, Yoo
Jung-bum), a specialist company in information technology (IT) logistics, is
amazed by the company's different status after participating in the economic
delegation. In addition to the endless inquiries from major overseas investors,
major Asian nations such as Thailand and Malaysia wooed one after another. Mesh
Korea had an impromptu meeting with a state-owned investment company TEMASEK at
a business forum attended during the delegation, and Singapore's sovereign
wealth fund GIC invited Mr. Jung to the company in person. The local partner
Honest Bee has decided to further expand the partnership.
The CEO Yoo said, “The most unforgettable moment as a member of the economic delegation
was when I was invited to the dinner hosted by President of Singapore with the
representatives of large corporations.” He recalled the
moment by saying, “I was proud to introduce that
Singapore's largest online grocery sales and distribution service provider
Honestbee is using ‘VROONG’, my company’s comprehensive logistics management
system.”
The companies that
participated in the economic delegation said in unison, "The fact that we
were included in the economic delegation of President’s visit is sufficient
enough to give local governments and business people the impression that ‘we
are excellent companies that represent Korea'. This acts as a premium when we
negotiate with the buyers from other regions."
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