◇ Gyeonggi Province announced that Gyeonggi Business Center (GBC) Shanghai,
established and operated by Gyeonggi Province in Shanghai, played a crucial
role in helping Myun-nara Co. of Gyeonggi Province enter the Chinese market. ⓒ Gyeonggi G-News

# Case study = Rice noodle producer Myun-Nara Co. (Gwangju-si, Gyeonggi
Province) is a business that was focusing on the domestic market without any
knowledge of trade, procedures relevant to international trade, or a single
employee capable of communicating in a foreign language. Myun-Nara was
intrigued by the possibility of entering the Chinese market after Korea and
China signed their FTA in June. While seeking ways to enter China, representatives
of Myun-Nara attended the G-FAIR (exhibition of outstanding Korean products) held
in Shanghai this past August.
 

Just four months later, on December 1, they signed an export contract
worth USD 200,000 with a buyer they met at G-FAIR Shanghai, and they are currently
selling their products at a premium market operated by B Corporation, a large
business in China. They now expect to profit from tariff benefits thanks to the
Korea-China FTA. 
 

Gyeonggi Business Center (GBC) Shanghai, established and operated by
Gyeonggi Province in Shanghai, played a crucial role in helping Myun-Nara enter
the Chinese market.
 

GBC Shanghai provided the support necessary to overcome barriers such as
stringent Chinese import regulations for food products in addition to high tax
issues that could have been difficult for a company just beginning to undertake
export operations
 

Myun-Nara CEO Seo Eun-hwa said, “We were interested in expanding into China with
the Korea-China FTA coming into effect, but we didn’t have a system for export operations in place
so there were numerous obstacles.” Seo added, “We were able to successfully export our products
thanks to the full support of GBC Shanghai with everything from finding buyers,
creating contracts, undertaking shipments, and making payments.”
 

On December 28, Gyeonggi Province announced that its timely measures to
help Gyeonggi-based small and medium businesses enter the Chinese market in
light of the Korea-China FTA, which came into effect on December 20, were reaping
rewards.
 

Gyeonggi Province hosted G-FAIR Shanghai in August in anticipation of the
Korea-China FTA, and extended its support to 70 corporations based in Gyeonggi
Province. Those efforts culminated in USD 92.44 million in consultations at the
exhibition.
 

In November, Gyeonggi Province hosted G-FAIR Chongqing & Nanning and
helped 25 companies achieve USD 28.65 million in consultations. Chongqing is a
key city in the Chinese government’s policy to develop western China, while Nanning
is a city rising as distribution hub in southern China.

The Gyeonggi Provincial Government is planning on opening another GBC in
Guangzhou, the largest commercial city and gateway for trade in southern China,
during the first half of next year so as to provide substantial support to businesses
entering the Chinese market in the wake of the Korea-China FTA.  

Gyeonggi Province is also preparing various projects to support
businesses such as dispatching delegations to promote trade in China, hosting
G-FAIRs in China, acting as an agency for overseas marketing, and operating
joint exhibition booths at overseas trade fairs.
 

Gyeonggi Province International Trade Division Chief Ko Bong-tae said, “Gyeonggi Province
is formulating substantial support measures given that the Korea-China FTA is
now in effect.” Chief Ko added, “We will offer support for various overseas
marketing projects and use GBCs, which act as our overseas bases, to help small
and medium businesses in Gyeonggi Province achieve great results in China.”
 

For more details on Gyeonggi Province’s overseas marketing support, please contact the
Export Support Team (031-259-6132~9) at the Gyeonggi Small and Medium Business
Support Center.

ⓒ Gyeonggi G-News | Kim
Jin-kyoung jinkyoungkim@kg21.net 

http://gnews.gg.go.kr/news/news_detail.asp?number=201512280946597055C052&s_code=C052