– Finalized Export Contracts Worth $24 Million

Gyeonggi-do dispatched ten SMEs from the province to the International Consumer Electronics Show 2005 held in the world’s biggest electronics market, Las Vegas, between January 6 and 9. The companies carried out aggressive export consultation activities worth $140 million at the event with a number of local distributors and corporate buyers to finalize contracts worth $24 million.

This is the 38th year for the International Consumer Electronics Show first launched in New York in June 1967. It is the world’s biggest electronics show to which 2,500 companies of 80 different nationalities participated this year. Samsung and LG from Korea took part in the show, too. They were placed in the royal booths of the main showroom as world-class brands to shed the bright light on the Korea Room in which SMEs carried out their conducts.

One SME from the province displayed the wireless laser keyboard that does not actually require typing, and it received much positive response from local buyers. The product alone resulted in the contract finalization worth $1.66 million following the OEM proposal as reported by KBS, MBC, and SBS.

Another company’s air purifier and oxygen generator were put at the center of the public attention for superior product designs. The $500,000-worth contract is a significant amount considering the fact that the total import market for the same product item into the US only amounts to $1 million.

EIAK carried out marketing activities such as a roadshow targeting big-name electronics companies, organizing committees, and media bodies in preparation for the Korea Electronics Show to be jointly hosted by Gyeonggi-do and Ministry of Commerce, Industry, and Energy at KINTEX in October 2005 during Las Vegas Consumer Electronics Show 2005.

The province plans to offer as much support as possible to diversify the export market by dispatching SMEs of great product qualities to trade shows in all across the world including North America.