– Making $31 million worth of supply contracts plus business talks about goods worth $77 million.

A total of 28 Korean businesses made $31 million worth of supply contracts plus business talks about goods worth $77 million at the Korean Products Show 2005 held at the 6,500 -space in the World Trade Center in Mexico City for four days from September 7.

A total of 115 businesses, including the five leading ones operating in that country, i.e. Samsung Electronics, LG Electronics, Daewoo Electronics, Kumho Tire, Pentech, took exhibitions at what turned out to be the largest scale among industrial exhibitions for Korean goods held so far in that North American country.

As many as 49 participating businesses were from Gyeonggi Province, with 28 (10 health-related ones, one machinery, nine electrical and eight consumer goods ones) out of them receiving support from the provincial office.

A business identified as “C” in Hwaseong was engaged in business talks for goods worth $2.3 million, including $500,000 worth of goods with “M,” a large-sized distributor, and $600,000 worth of goods with “B,” a Chilean hotel goods supplier. It expects to make forays into the Latin American market, using the event as a momentum, in addition to the markets in North America and Europe, which have been the targets of its aggressive marketing.

A business identified as “S” in Anyang became one that posted a higher result than any other businesses from Gyeonggi, i.e. making a supply contract worth $4 million with a water purifier suited to that part of the world, i.e. mountainous areas suffering poor potable water quality.

During the event, SMEs in the province fully utilized the opportunity to make supply contracts with 400 plus importers in Brazil, Chile, Argentina, the U.S. as well as in Mexico and expressed the hope that the currently favorable atmosphere surrounding the suggested EPA between Korea and Mexico will bring considerable positive effect to their exports to that country.

In 2004, exports from businesses in Gyeonggi Province to Mexico stood at $490 million, a 26% year-on-year increase, while their exports from Mexico came to $60 million, a 47% increase from 2003. In the January ~ July period in 2005, their exports to that country stood at $500 million, a 101% year-on-year increase, compared to $60 million (a 47% year-on-year increase) in imports from that country. Thus, Mexico appears to be a country that offers a bright prospect for Korean exporters.