It is expected that the Gyeonggi IT/Electronics Export Business Meetings held on October 5 will be substantiated into $25 million worth of exports. 

The 500-plus businesses in the province engaged in business talks with 170 buyers from 27 countries appear to be happy about the opportunity offered by the Gyeonggi Provincial Office. 

It was reported that in the morning session alone the participating export businesses harvested $11 million worth of export contracts from $950 million worth of negotiations and that the single day session will bring them a total of $25 million worth of export contracts (i.e. an amount equal to exporting 2,000 mid-sized cars) from more than $200 million worth of negotiation. 

It was noteworthy that employees of the Corporación de Fomento (CORFO) (National Development Corp.) of Chile attended the session to see how it went on and help Chilean businesses carry out business talks amid the higher interest in each other since effectuation of the Korea-Chile FTA in April, 2004. 

Gonzalo Taboada, one of the CORFO employees dispatched to the session, paid meticulous attention to the overall process of the session and said that Chilean businesses expressed satisfaction with results of their individual business talks with the exporters in the Gyeonggi Province. He said that Cibergroup, a Chilean importer of the automatic door system and the dactylogical reading device, will make a contract with a Korean exporter for $5 million worth of goods. 

Simple Tech Group, the only U.S. business attending the session, said that it made a tentative decision to import $8million worth of web cameras and DVRs from a Korean business annually, shifting its export source from China and Taiwan to Korea. 

The Gyeonggi Provincial Office plans to provide more positive support to SMEs in the province by hosting more frequent export business sessions both at home and abroad.