Contribution to Exports
The Korea Industrial Complex Corporation (KICOX) announced that it dispatched the "2017 Indonesian Market Development Delegation" consisting of those from companies that produce finished consumer goods in local industrial complexes for five days from June 12.
23 people from a total of 15 companies that manufacture cosmetics, electronic products and medical device participated in this market development delegation. During this period, the delegation held one-to-one business meetings with one-to-one business matching import and export fair with 50 local buyers. As a consequence, Bionics, a medical device manufacturer, and Yoosol Electronics Co., Ltd., an electronics manufacturer among other Korean companies concluded five export contracts and achieved about US$4.5 million in export deals.
The KICOX also signed an MOU to play a bridging role to introduce partner companies in both Korea and Indonesia with TELKOM, the largest communication and distribution company in Indonesia during this delegation’s visit.
This MOU earned the companies in Korean industrial complexes a bridgehead to the Indonesian market. Those from the 15 companies who participated in the delegation attended the MOU signing ceremony and held a meeting with ten participants from the TELKOM side.
"Exporting companies in industrial complexes need to diversify export lines by making inroads not only into the Chinese market but also into emerging markets. We will continue to support global export marketing based on the delegation’s accomplishments." said Hwang Gyu-yeon, chairman of the KICOX.