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Brands create trade link. |
The Hi Seoul brand is a boon for small- and medium-sized enterprises in Seoul, but requirements are rigorous. These companies have to be export-orientated with outstanding technological capabilities. Also, their products have to be innovative and able to compete globally.
Young Jae Lee, President of the Association of "Hi Seoul" Brand Representatives, pointed out that because Yiwu International Trade City is a global trading platform, its Seoul Brands Commodity Hall there serves as an important window for South Korean companies trading in China.
Lee hopes this platform will help promote Korean brands on the Mainland, giving them a robust promotional push.
Some 12 companies and over 400 different Korean goods were selected to join the International Trade City event this time. New brands will be introduced on an annual basis.
A large variety of Korean goods appeared in eight major categories, including garments, shoes and hats, cosmetics and jewellery. All were on sale at the Seoul Brands Commodity Hall.
Hyun-Oh Yoo, CEO of South Korea's Genic, introduced his company's skin care products by demonstrating the use of Genic facial treatment masks at his counter.
Yoo said Genic products are popular enough in South Korea to have achieved an hourly turnover of Rmb500,000 via a TV shopping channel, but very few Chinese people have heard of the brand.
China's huge market potential can't be ignored and Yoo hoped to find dealers to open up that market.
There were facilities for sales, exhibition and business negotiations under one roof. Over 23,000 products from 47 countries and regions appeared.
The entry of South Korean brands into the city reflects Yiwu's efforts to go global, said Wu Bocheng, President of the Yiwu International Trade City. The opening of the Korean Seoul Brands Commodity Hall will serve as a "bridge" for trade and economic exchanges between Yiwu and Seoul.
from Shirley Pan, Hangzhou Office
(Image courtesy of Xinhua News Agency)
