KITA News
  • KITA Held “Russian Market Development and Entry Strategy Seminar
    2019-06-03

    KITA Held Russian Market Development and Entry Strategy Seminar

     

    - Exhaustive information to advance into Russia such as economic outlook, trends in online and offline distribution market, clearance strategies, etc.-

      

    The Korea International Trade Association (Chairman Kim Young- joo) held Russian Market Development and Entry Strategy Seminar at Trade Tower in Samseong-dong on June 3rd.

     

    In this seminar, famous lecturers of the industries delivered speeches on the Russian economic outlook, business strategy for each type of business, market trends in online and offline distribution, logistics environment and customs strategy and so on. The seminar attracted a great deal of interest from the industry and the registration was closed in a week. Some 200 officials from manufacturing and distribution companies that are interested in entering into the market participated in the event.

     

    Professor Jeon Myung-soo of the Vladivostok State University of Economics and Service said in his speech, The Russian distribution market is experiencing a paradigm shift, including a large supply chain, e-commerce, and the fever of private brands (PB) and rising of low price distribution market, etc. He stressed, Joint marketing and localization strategies through cooperation with the similar companies will be effective.

     

    Kim Ik-joon, CEO of ECOVIS, said, 40 percent of the companies entering into Russia are experiencing problems such as requests for additional documents and revision of tax base price during clearance. It is necessary for Korean companies to work on systematic risk management for customs clearance when expanding into Russia.

     

    Kim Hyun-chul, head of Global Marketing Group at the Korea International Trade Association, said, Recently, with the efforts to diversify the export market, the new northern region has been attracting attention. While the interest in the Russian market has been increasing, lack of local information is becoming a setback for expansion. He added, In the future, we will hold entry strategy seminars to various regions and countries including new southern region, new northern region, the Middle East and Central and South America.

     

     


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