Korean diaspora network targets export growth for regional businesses
The Overseas Koreans Welcome Center and Korean Business Center in Songdo, Yeonsu District, Incheon / Korea Times file
A global network of Korean diaspora business leaders will connect 160 regional companies with overseas buyers this week in an effort to open new export markets for small and medium-sized enterprises (SMEs).
The Overseas Koreans Agency said Monday it would host the two-day World Korean Business Export Consultation on Oct. 27-28 in Wonju, Gangwon Province, and Daejeon, in partnership with the two local governments.
About 160 buyers, including 20 members of the OK-Biz business advisory group, will take part alongside 160 SMEs from the two regions.
The event will offer tailored, one-on-one business consultations in sectors including food, beauty, information technology and biotechnology, matching companies with buyers based on their industries and commercial needs.
The initiative aims to turn connections forged through the 24th World Korean Business Convention into concrete opportunities for regional businesses seeking to expand overseas, drawing on the advisory group's international business networks.
The agency has previously worked with local governments, including Busan, Jeonnam-Gwangju Special Metropolitan City and North Jeolla Province, to organize similar export consultations and help regional companies reach foreign markets through the global Korean business community.
“Understanding local markets and having reliable business networks are essential to entering overseas markets,” an agency official said, expressing hope that the consultations would help companies in Gangwon and Daejeon find foreign buyers and expand their export opportunities.
The agency said it would continue working with local governments to strengthen ties between Korean diaspora businesspeople and domestic SMEs, while supporting companies seeking to establish a foothold in international markets.
This article was published with the assistance of generative AI and edited by The Korea Times.