-Trade exhibition center opens in Yiwu, one of the biggest commodity cities in China
-Center displays products 543 retail productsfrom 60 SMEs in Incheon and Busan
-POSCO DAEWOO’s first distribution platform for Korean retail products in China
POSCO DAEWOO opened a trade exhibition center in Yiwu, in China’s Zhejiang province, on June 8 to promote retail products made by small and medium enterprises (SMEs) here.
The opening was the latest in a series of efforts by the nation’s biggest trading company to promote the prosperity of small and big companies. The center displays products from 60 SMEs in Incheon and Busan. The China Commodities City (CCC) and its local business partner Nairan joined the campaign.
It is POSCO DAEWOO’s first distribution platform for Korean retail products in China. The trading company had focused its business on industrial commodities.
POSCO DAEWOO CEO Kim Young-Sang attended the opening ceremony with Cho Dong-am, vice mayor of Incheon, Kim Kee-wan, vice chairman of the Incheon Chamber of Commerce and Industry, Kim Jae-gab, director of the Busan Economic Promotion Agency, Ni Jian Jun, vice mayor of Yiwu, and Zhao Wen Ge, president of the CCC.
Yiwu is home to Yiwu International Trade City, also known as the China Commodities City, some 280 kilometers southwest of Shanghai. The store is in the Yiwu market, which sells about 80,000 items imported from around 100 countries.
The exhibition center spans 90 square meters and displays 543 retail products, including cosmetics and baby supplies.
POSCO DAEWOO will be in charge of establishing an online showroom and promoting products on and offline. Its local partner will do the marketing and offer help to buyers.
“We have put together a new business model helping SMEs make inroads into overseas markets, through cooperation with Korean and Chinese local governments,” POSCO DAEWOO’s Kim said. “In the future, we will work to expand the distribution platform to northern and central regions of China.”
Meanwhile, POSCO DAEWOO expanded a unit committed to developing the firm’s new growth engine early this year. It has also diversified its business portfolio into customer goods, the MICE (meetings, incentives, conferencing and exhibitions) business and others.