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Korean exporters to tap into the rising ASEAN consumer markets

PRESS RELEASE
No.PR/19-05Date2019.02.14 (Thu)
ContactProgram Inquiries: Kim Hye-ji, Senior Officer, TIU (+82-2-2287-1127, hjkim@aseankorea.org)
Press Inquiries: Bang Gee-hyun, Assistant PR Officer, IDU (+82-2-2287-1173, ghbang@aseankorea.org)
ASEAN-Korea Centre is an International Organization mandated to promote economic and socio-cultural cooperation between ASEAN Member States and Korea.


Korean exporters to tap into the rising ASEAN consumer markets

- The highest decision-making body to approve the Centre’s commemorative programs for the 30th Anniversary of ASEAN-Korea Relations -


Seoul, Republic of Korea - The ASEAN-Korea Centre (Secretary General Lee Hyuk), together with the Korea Trade-Investment Promotion Agency (KOTRA), will organize the ‘Business Opportunities Seminar on the ASEAN Consumer Market’ from 19 to 20 February at COEX Intercontinental Hotel, Seoul, Korea. 15 experts from 5 ASEAN countries – Indonesia, Philippines, Singapore, Thailand, and Vietnam – will present consumer market trends and business opportunities in their respective countries to approximately 100 Korean exporters who seek to make inroads to ASEAN market.


Lee Hyuk, Secretary General of the ASEAN-Korea Centre, noted that “With the accumulated population of 650 million, ASEAN has the world’s third largest market after China and India. Steady economic growth and increasing middle-class population have made the region a newly emerging consumer market, of which value is projected to be worth 3.1 trillion USD by 2030. Against this backdrop, it’s increasingly important for exporters who seek to tap into ASEAN consumer markets not only to have in-depth knowledge on each country’s business environments and fast-changing market trends but also to find reliable local partners. I hope that the Seminar can provide Korean businessmen with substantial assistance by offering opportunities to gain first-hand knowledge from local experts and build partnership with them.”


At the opening ceremony of the Seminar, Secretary General Lee Hyuk, Executive Vice President for Economic Cooperation & Trade Affairs of KOTRA Kim Sang-mook, and Undersecretary of Department of Trade and Industry of the Philippines Ruth B. Castelo will deliver remarks. Presentations on consumer market trends and opportunities in each country will be given by ASEAN experts from the Indonesian Retail Merchants Association), Home Shopping Network, Inc. of the Philippines, Y Ventures Group Ltd. Of Singapore, Nielsen Company Ltd. of Thailand, and Vincommerce of Vietnam. An official from Seoul Regional SMEs and Startups office will also offer a presentation on ‘Introduction of supporting services for Korean exporters.’ A business networking session will be conducted to enable participants to build networks for future collaborations.


The Seminar is the first joint project to be organized with KOTRA after signing a MoU between the two organizations in 12 October 2018. The ASEAN-Korea Centre and KOTRA agreed to closely cooperate to develop and carry out projects based on the needs of both ASEAN and Korea. The Seminar is designed to accommodate the demands of ASEAN for Korean consumer products amid the high popularity of Korean cultures. It is also tailor-made to the needs of Korean entrepreneurs who wish to expand into the consumer goods market of ASEAN.




[Attachments]

- Press Release file

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