Export conference promoted 3.5 times more contracts than last year 

◇ During the four days of the 6th K-Beauty Expo from October 31 to November 2, approximately 40 thousand participants and visitors attended. The total value of contracts promoted during the expo increased 3.5 times compared to last year, totaling USD 48,134,079. ⓒ Gyeonggi G-News

Hosted by Gyeonggi Province and organized by KOTRA, the 6th Korea Beauty Expo ended on November 2 in great success. 

During the four days of the 6th K-Beauty Expo, which opened on October 31 and closed on November 2, approximately 40 thousand participants and visitors attended, out of which the number of foreign visitors increased by approximately 50 people to 673 persons in total. 

On the basis of the success achieved last year, the K-Beauty Expo stole the spotlight again. This year’s expo obtained more fruitful results by recruiting a total of 350 companies (540 booths), primarily those with export capabilities, and by inviting about 110 genuine buyers from 28 countries through a multi-step screening process. 

The actual results from the export conference seemed even greater at the site. The value of contracts promoted during the expo increased more than 3.5 times over last year to a total of USD 48,134,079, evidencing success in the matching efforts and qualitative improvements in the export conference. The amount of contracts discussed during the business meetings held on site totaled USD 164,373,833, marking a sharp increase of over 2.5 times compared to last year. 

Such a remarkable outcome of this year’s conference is attributable to the efforts made by KINTEX and KOTRA, the two joint organizers, to select genuine buyers through multiple reviews of overseas buyers prior to the conference and to effectively arrange business meetings and individual booth tours.  

Although the number of people invited to the conference decreased, it was possible to obtain good results by thoroughly reviewing annual sales, product items and buyer purchase intentions, thereby increasing the effectiveness of matching buyers and sellers. Those buyers who were invited through a rigorous selection process came to the meetings with a strong intention to make purchases after comprehensively studying businesses, which led to promoting contracts.  

With such great results, the beauty expo, under the slogan “K-Beauty to the World,” made strides toward the goal of assisting participating companies with overseas marketing efforts and helping them to export their products and services. 

Kim Neung-sik, Director of the International Trade Division of Gyeonggi Province, said, “We will come up with an even better plan to provide a stepping stone for those leading SMEs in the beauty industry of Korea to enter the world’s markets.”

◇ The 2014 K- Beauty Expo saw 350 companies from various areas across the beauty industry – including cosmetics, hair products, nail care, facial care, sliming care and fashion – operate a total of 530 booths. ⓒ Gyeonggi G-News

ⓒ Gyeonggi G-News | Park Gwan-sik malbut@kg21.net

http://gnews.gg.go.kr/news/news_detail.asp?number=201411031548348068C052&s_code=C052