-A total of 1,243 foreign buyers attended, resulting in $30.36 million worth of supply contracts 

The Exhibition of Good-Quality Korean-Made Products was held at the Tokyo Trade Center by the provincial office on April 11 and 12 in an effort to improve the situation concerning the ever-increasing deficit in the nation’s trade with Japan. 

For successful operation of the event, the provincial office had selected items likely to be welcomed by Japanese, such as agriculture/marine/food products, medical/health supplies, machine parts and architectural materials made by 100 businesses from November 2004 and then made careful preparations, including contacting prospective buyers. Despite the unfavorable weather and earthquakes during the session, a total of 1,243 buyers paid visits to the event site and made $30.36 million worth of supply contracts. Business negotiations carried out were estimated at $133 million. 

Participating Korean businesses expressed satisfaction with the results, saying that the event provided them with a nice opportunity to start business with Japanese buyers. Japanese buyers, on their part, showed similar responses. 

A small car air conditioner refrigerant manufacturer in Anseong said that he was glad to agree to sign a $4 million supply contract with MK. As many as 34 buyers, including Lotte Japan and the Japan Agricultural Trade Corp., swarmed to the booth of a maker of health foods, such as pumpkin seed oil, in Suwon, showing Japanese’ deep interest in well-being foods. A Japanese distribution firm offered transfer of the packing technology to Korean businesses. 

A maker in Yangpydong of electric stands made of naturally dyed fiber was approached by a Japanese buyer having 70-plus agents throughout Japan with an offer to do business on a continual basis. The Japanese is reported to say that the products will be welcomed by Japanese housewives and restaurants. 

The Gyeonggi Provincial Office-initiated attempt is regarded as a success. There is a saying that an exporter who has successfully advanced into the Japanese market will find advancing into markets in other parts of the world a piece of cake, which means Japanese consumers are very particular about in choosing goods to buy and exporters of goods to that country are likely to experience overriding difficulties in the trade practices adopted in Japan. 

A Gyeonggi Province official said that the office planned to invite leading Japanese buyer to export road shows held in Korea for SMEs’ products as part of the efforts to help businesses make aggressive forays into the Japanese market.