Korea’s largest small and medium-sized export exhibition
I went to the ‘27th G-Fair Korea’
Export strategies for each global region were presented at the roundtable… Gyeonggi Business Center Directors from 14 countries participated
927 domestic and foreign buyers from 30 countries visited… Export consulting performance of $647 million
‘G-Fair Korea 2024′, Korea’s largest small and medium-sized business excellent product exhibition hosted by Gyeonggi Province, was held at KINTEX in Goyang-si from the 31st of last month to the 2nd of this month. A buyer is testing a skin care device at KINTEX Exhibition Hall 1. Provided by Gyeonggi Province Economic and Science Promotion Agency “’Carbon neutrality/value-centered era’, ‘Global value chain (GVC) and supply chain’, ‘U.S.-China competition for hegemony’.”
Cho Sang-hyeon, director of the International Trade Research Institute of the Korea International Trade Association, who was the keynote speaker at ‘GBC Global Market Insight 2025′ at KINTEX in Goyang-si, Gyeonggi-do, where the ’27th Korea Excellent Product Exhibition G-Fair Korea’ was held on the 1st, selected the ‘three major issues of the global economy’ as follows. .
Director Cho argued that we must recognize the uncertainty caused by geopolitical risks such as the U.S. presidential election, the Russia-Ukraine war, and the U.S.-China trade war, and respond quickly. Director Cho said, “The overseas expansion of domestic small and medium-sized businesses is diversifying from export-centered to overseas direct investment and establishment of local corporations.” He added, “The government must increase direct support, such as expanding loan credit guarantee limits, to strengthen the entry of small and medium-sized businesses into the global market.” He emphasized.
● Discussion of economic issues and export strategies by region
On this day, regional discussions on global economic trends were also held. To help small and medium-sized businesses export, directors of 19 Gyeonggi Business Centers (GBCs) from 14 countries around the world operated by the Gyeonggi Province Economic and Science Promotion Agency (Gyeonggiwon) attended online and offline to deliver local market characteristics and business environment distribution network trends.
In the Northeast Asian region, an entry strategy tailored to Japan’s low yen and changes in consumption trends and China’s domestic demand revitalization policy was presented. Hanshin, director of GBC Tokyo, said, “Because foreign tourists buy premium products due to the low yen and Japanese consumers make practical consumption due to high prices, we need to devise an export strategy such as close cooperation with the Japanese distribution network.”
In the case of Russia, it was predicted that opportunities would arise in the cosmetics and household goods market after the war. Im Sang-hyeon, director of GBC Moscow, said, “Due to the war between Russia and Ukraine, the number of items banned from being exported to Russia has recently expanded to 1,402,” adding, “Exporting products centered on consumer goods such as cosmetics, which Russian consumers have a high preference for Korean products, can be a good opportunity.” “He explained.
In Southeast Asia and Southwest Asia, discussions were held to respond to non-tariff barriers, such as Indonesia’s halal certification and Indian Institute for Quality Management (BIS) certification. Kang Seong-cheon, head of the GBC, said, “We will use the GBC network to strengthen certification support for each overseas country, support opening stores on online platforms, and promote customized buyer matching.”
● 9,603 consultations at home and abroad over three days
About 23,000 people, including businessmen and visitors, visited G-Fair Korea held at KINTEX from the 31st of last month to the 2nd of this month. 927 domestic and foreign buyers from 30 countries visited 612 booths of 532 small and medium-sized businesses and received export consultations. This year’s exhibition consists of five theme halls, including △Beauty Hall, △Food Hall, △Daily Necessities Hall, △Health and Fitness Hall, and △Future Industry Hall, with the slogan ‘Living Fun’. To drive export results, a one-on-one matching export consultation session was held between overseas buyers and companies, and a purchase consultation session with distribution MDs from domestic large supermarkets and online malls was also held. In addition, in collaboration with Chinese influencer Wang Heung, a live commerce event was opened to help K-beauty products advance into China.
CEO Jeong, who runs a cosmetics manufacturing startup, said, “Last year, we entered the Chinese market by participating in the first G-Fair, and our exports alone increased by 11,315%. This year, we achieved an export consultation amount of $1,084,398 and will participate next year as well.” He said. During the G-Fair Korea Expo, domestic small and medium-sized enterprises and domestic and foreign buyers conducted 9,603 export consultations (approximately 647 million dollars). Moon Doo-sik, head of the Gyeonggi Province International Trade Department, said, “We plan to diversify our export support projects and expand our export support bases.”
Reporter Kyungjin Lee lkj@donga.com
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