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Posted On: 5 February 2009 09:20 am
Updated On: 12 November 2020 02:09 pm

Korean business expo opens

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SOUTH Korean companies are expected to intensify their activities in GCC states, notably in growing economies as Qatar in the coming years, notwithstanding the global economic slowdown. Korean entrepreneurs at the Korea International Trade Association (Kita) fair yesterday echoed similar sentiments yesterday on the possibilities of exploring new business opportunities in the country. Officials of three business firms expressed optimism in making further inroads in Qatar markets, by providing high quality products and services in different areas. They said most goods manufactured in their nation has good acceptance and a firm base across the region, notwithstanding fierce competition. Lee Young-Soo, the president of a group manufacturing a range of cosmetic products, said major players in his field had focussed on the GCC market and are looking to set up operations here. “We understand that there is a growing demand for high end cosmetic products in countries like Qatar and our company is equipped to produce goods to suit the tastes and requirements of customers here,” he said. Young-Soo felt even though it was a little late for his eight-year-old company to start distribution points in Qatar, he was hopeful of establishing a strong base for his products. He said the local businessmen who approached him at the fair at Ramada Hotel yesterday were pleased with the quality of products manufactured by his firm. “As far as cosmetic products are concerned, it requires no further introduction to the region’s people,” he said. Jong Duck Lee, whose company manufactures energy drinks among other beverage products, too is hopeful of establishing a firm base for his products here. “This is mainly because of the reputation enjoyed by South Korean brands in the region,” he said. The entrepreneur has so far exported products to more than 30 countries and Qatar could be among its new destinations. The Kita membership includes over 66,000 firms, mainly trading and manufacturing enterprises. The organisation aims further to support its members to overcome business challenges that they are facing. Representatives of about a dozen firms, having stakes in such businesses as wall interior soil tiles, aluminium sheet and extrusions, communication software, online games, LED fluorescent lamps, signboards, cosmetics, health drinks, and anti-adhesion sheets participated at the fair yesterday. South Korean ambassador Kim Jong Yong inaugurated the fair, in the presence of embassy officials. In October last year, Kita had organised a business fair at Ramada Plaza.