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Korea Coast Guard(KCG) and Korea Trade-Investment Promotion Agency(KOTRA) announced that the two agencies will jointly host the 2020 KOTRA-Coast Guard International Business Meeting from November 11th to 13th, 2020. The event will take place on November 11 in Songdo Convensia, Incheon, while it will also be held virtually at the KOTRA meeting booths and offices of participating companies during the remaining days of the business meeting. Based on the Memorandum of Understanding (MOU)* signed by the KCG and KOTRA in August 2019, the Business Meeting has been planned to be held following the ASEAN-India International Business Meeting held in November 2019. * The MOU was signed with an aim of enhancing the global competitiveness of Korea’s domestic companies and promoting the country’s exports of the maritime security industry.
However, this year’s event is conducted in a virtual format due to public health concerns resulting from the coronavirus outbreak.
The event is participated by 30 Korean companies from the sectors of shipbuilding, sailing, safety, and special equipment that will be matched with 9 foreign coast guard agencies for one-on-one counseling sessions. In particular, coast guard agencies in 5 major countries* South Korea has looked to engage in the New Southern Policy have shown keen interest in the business meeting.
* Malaysia, Vietnam, Indonesia, Singapore, the Philippines
The participating companies will be either attending the venue in Incheon equipped with tech tools for virtual meetings and the counseling booths of KOTRA or having access to video conferencing channels at their offices for the counselling sessions with overseas purchasing managers in real-time.
They will display a variety of export items: Patrol vessels including high-speed boats, Navigation and Search and Rescue (SAR) equipment for responses to maritime accidents, Satellite and wireless telecommunication systems, and Unmanned Aerial Vehicles (UAV).
Meanwhile, KOTRA is also planning to publish a booklet in English in order to make the information about those export items more available to overseas buyers before distributing them to 34 business centers for the defense and security industry.
An official from the KCG said that “this Meeting is being held for the second time in collaboration of our international network and KOTRA’s overseas marketing know-hows and it is expected to serve as a great opportunity for many Korean companies to promote their own quality maritime security equipment to overseas maritime security agencies.”
An official from the KOTRA Defense Industry Trade Support Center added that “we look forward to seeing more robust foreign market and global value chain entry of domestic corporations in the relevant industries through the strong network and cooperation between the KCG and KOTRA.”
KCG hosts a Business Meeting in partnership with KOTRA
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