KOTRA and Korea Sports Promotion Foundation help sports companies expand overseas

On December 18, KOTRA signed a business agreement with the Korea Sports Promotion Foundation to support the overseas expansion of sports companies. The agreement aims to jointly support KOTRA's efforts to promote overseas expansion of sports SMEs. The two organizations will cooperate in several areas, including overseas marketing and support for participation in domestic and international exhibitions. The two organizations have also collaborated on events such as Boom Up Korea 2023 and Korea Excellent Products Exhibition in Osaka, which showcased the products of sports SMEs to the global market and resulted in substantial export contracts. KOTRA CEO said "By combining KOTRA's overseas network and export know-how with the foundation's sports industry expertise, we will be able to achieve even greater results for Korean sports companies."

One after another contracts at Cosmoprof Asia 2023 in Hong Kong

One month after the conclusion of Cosmoprof Asia 2023 Hong Kong, which was held from November 15 to 17, more than 100 Korean pavilion exhibitors have secured contracts in various export markets such as China, Southeast Asia, CIS, and Europe. Eight participating companies were found to have signed export contracts worth $10.87 million. The event featured more than 2,500 exhibitors from 44 countries and attracted more than 65,000 visitors from 119 countries around the world. The Korean Pavilion exhibited a variety of K-beauty products, including skincare, masks, color cosmetics, shampoos, problem patches, perfumes, skin care devices, and hair stylers, and as if reflecting the latest trends in the beauty industry, eco-friendly products, natural ingredients, products with global certifications, and multi-functional products were very popular. One company, which exports its own-brand products to 40 countries, said it signed a $5 million annualized exclusive deal with a large Russian distributor it was already doing business with at the show, and continued discussions about entering the Middle East market in 2024.