Yeon Choul-woong (Korea Times)
Tuesday, June 9, 2009

Korean small & medium business firms from Gyeonggi Province achieved excellent results at G-Fair Mumbai 2009.

G-Fair Mumbai 2009, a combination of trade show and one-to-one meeting forum, was held with 47 Korean companies and 567 Indian buyers attending to overcome the worldwide economic crisis and provide quality Korean products to buyers. It was held at the Grand Hyatt Mumbai, Mumbai, India from May 27 to 28.

As a result of providing opportunities for G-Fair Mumbai 2009 to introduce 47 blue-chip Korean companies’ products to 567 Indian and the Middle-East businesses, Korean companies signed contracts amounting to US$33.5 million through 704 cases of business negotiations.

For example, Genesis I&C, manufacturing and providing digital security solutions and video recorders, signed contracts with MCB India amounting to US$1.5 million through about 20 cases of business negotiations and are about to sign three more contracts. Morning IT Co., Ltd., a manufacturer and provider of counters and receptors for postal and electronic postal service systems, signed contracts with DIEBOLD amounting to US$500,000 and plans to sign additional contracts amounting to US$2 million within this year. TS Meditech Co., Ltd., developing and manufacturing medical devices such as the Turbo-Sonic Therapy System, signed an exclusive contract amounting to US$ 1.4 million with one of the biggest firms in the Indian franchise market, which has been introducing more than 60 types of medical products to a lot of prestigious Indian gyms so far.

The Korea IT Times recently interviewed Gyeonggi Small & Medium Business Center (GSMBC) officials to hear about the main achievements, which bring a lot of business opportunities to the participants in G-Fair Mumbai 2009.

A GSMBC official said, “There are some of the main factors that led G-Fair Mumbai 2009 to be a successful business fair. First of all, I’d like to point out the pre-arrangement. Our foreign business promotion teams in Gyeonggi Small & Medium Business Center in Mumbai have been dealing with a lot of business firms in India and the Middle-East to provide more business opportunities to Korean firms.”

He said, “Second of all, as a post-arrangement, we actually invited all those local buyers to the fair, and provided face to face meeting chances to Indian and Korean companies so that Korean business firms can fully introduce their products and deal with the buyers.”

“In particular, we were able to achieve even better results than we had expected from additional factors such as Korean companies’ superior technologies. Based on G-Fair Mumbai 2009’s success, we are planning to hold the G-Fair every year in the long-term. In the short-term, we are going to hold the G-Fair Santiago 2009 in the second half of this year aiming to achieve another round of success,” he added.

http://www.koreaittimes.com/story/3777/g-fair-mumbai-2009-presents-vast-opportunities