-Resulting in $170 million worth of export-related negotiations, 503.7 billion won worth of negotiations with domestic businesses, 40 billion won worth of investment-related talks and 11 billion worth of actual sales of goods 

The 8th Gyeonggi International Venture Show (GIVES) 2005 ended on June 5 after fulfilling its role as an arena for marketing and investor-attracting on the part of SMEs. 

The event carried out at the KINTEX in Goyang between June 2 and 5, concurrently with the Gyeonggi Science Festival, attracting more than 50,000 visitors. 

In addition to being a display event, the show also came a long way in helping SMEs take a step to advance into world markets by inviting many foreign-based buyers. 

During the international event, it appears that domestic businesses were engaged in 503.7 billion won worth of negotiations over a total of 10,500 cases, there were investment-related negotiations worth 40 billion won over about 200 cases, along with 11 billion won worth of goods sold. As well, more than 2,000 buyers from 20 countries were engaged in $170 million worth of negotiations over about 8,000 cases. 

Taking Genphar of the U.S. (President: John Dong), a cancer and AIDS drug developer, for example, it made a proposal for an exclusive supply for DNA-spin Plasmid DNA Extractoin Kit contract to Intron Biotechnology in Seongnam (President: Park Sung-joon) on June 3. The Korean supplier expects that this will expand its business opportunities in the U.S. market. 

In the case of Dooil Chemical, a decoration tile manufacturer in Hwaseong (President: Sun Hyun-dae), buyers from Russia and India expressed their respective intention to sign a supply contract for 60 million won worth of tiles after paying a visit to the factory on June 4. 

As for Argus, a digital door lock manufacturer, is now one step closer to signing a supply contract with buyers from India and China, who expressed satisfaction with tis goods. Utorex Electronics (President: Lee Hyung-yeong), a curling iron, hair-clipper, electric razor manufacture, agreed to have a separate meting with buyers from China, including Mr. Richard Wang, President of the Chinese TV Home Shopping Association. 
Buyers from India, Japan, China and Vietnam expressed interest in the remote-controlled door lock made by Sangwoon TRACO (President: Yoo Gi-ho). The one from India is close to signing a supply contract for $85,000 worth of door locks and the one of Japan will visit the manufacture on June 13 for further discussion. 

Thus, the international event in which domestic venture businesses took part in 400-plus booths made a great contribution to SMEs striving to find new markets both at home and abroad. 

This year’s event was differentiated from those held in the past in that a wide variety of goods ranging from hi-tech goods to everyday household goods manufactured by venture businesses were displayed in a systematic way, attracting buyers’ attention more effectively. With the partition between the GIVES Hall and the Smart Home Show Hall removed, visitors to each hall found it easier to move to the other hall, thus resulting in synergistic effects. 

As well, ancillary events simultaneously held, such as the WTC Trade Expo, the Session for Discussion about Exploration of Markets and the Intelligent Robot Contest, also made a contribution in attracting more visitors. 

The Local Theme Hall first opened this year also served as an occasion for mutual exchange and benchmarking among promising businesses both in and out of the province. 

The provincial office will do its best to make better preparations to make the annual event an even more successful one, while upgrading it as a world-class one in which businesses may discuss technological exchanges, share information, attract investors and explore new markets. Next year’s event is scheduled for September.