Successful export boosted by ‘Korea’ branding… KOTRA participates in MWC
BARCELONA, Spain, March 2, 2023 –
“There are many buyers who are aware that there are innovative companies in the Korean Pavilion. I created a booth in the Korean Pavilion because I was able to work with a Korean brand on my back. (Lee Hyung-gyu, Inkle Strategy Researcher)”
The Korea Trade-Investment Promotion Agency (KOTRA) took the lead in attracting exports and investment from Korean companies at the Mobile World Congress (MWC) 2023.
On the 28th of last month (local time), I visited the integrated Korea Pavilion of KOTRA at MWC held in Barcelona, Spain.
The integrated Korean Pavilion located in Hall 7 attracts attention from afar with the large Taegeuk mark and the ‘KOREA’ logo attached to it. People from various countries were looking carefully at Korean company introduction materials and asking questions. Officials from various booths of participating companies were consulting with overseas buyers and investors.
MWC is considered one of the world’s top three cutting-edge technology exhibitions along with the International Consumer Electronics Show (CES) and the International Consumer Electronics Show (IFA) in Berlin. In a situation where exports have plummeted since Corona 19, it is a life-and-death event for small and medium-sized businesses and startups. This is why KOTRA puts up large-scale booths and supports small and medium-sized businesses and start-ups. Since 2009, KOTRA has been opening the Korean Pavilion at MWC for the 14th time in a row. A total of 76 companies participated this year. Since 2019, it has organized an integrated Korean pavilion with the Korea Information and Communication Technology Industry Association and Daegu Techno Park to promote ‘Made in Korea’ to the world.
“There are many small companies with excellent technology in Korea, but it is difficult for individual companies to promote themselves if they come out alone,” said Jung Won-joon, director of KOTRA’s exhibition and convention department. He explained, “We need to use the national brand power as a corporate promotion point and enhance synergy with local governments and related organizations.”
The effect of the integrated Korean Pavilion is significant. An official from Pepsi saw an interactive media demo of Momenti, a participating company, while passing by the integrated Korean pavilion, and then suggested setting aside urgent business and meeting with the marketing department. In addition to this, several global venture capital (VC) have requested a meeting with an investment intention.
The response from participating companies has also been positive. WATTA, an AI logistics disaster management platform provider, has been participating in the Korean Pavilion for the third year. “We signed contracts with Polish and German companies in the morning,” said Kim Kyung-sik, CEO of Watta. “This is a difficult part for small companies to prepare for, but it is easy to conclude a contract because we check and match buyer demand in advance. We are about to launch a new platform. , We hope to expand our business by signing a European partnership.”
Lee Hyung-kyu, Inkle Strategy Researcher, said, “There are many buyers who are aware that there are innovative companies in the Korean pavilion. They can work with Korean brands on their backs.” I look forward to it,” he said.
Mgram, which launches a smart global tour taxi reservation service platform, is discussing the introduction of the platform for Turkish buyers and Istanbul tourists through MWC.
On this day, we met buyers who visited the Korean Pavilion, such as TBKIDS, Unknown Group, and Yuka Technology. Carlos Alberto Kangiani, CEO of Yuka Technology, said, “This time, we are signing an MOU with Dobi Computing for an exclusive contract in Spain for one year.”
On the 1st, an IR pitching event was held with 12 Korean startups participating. About 100 large European investors, including Deloitte and Caisha Bank, participated. This is thanks to not only internal cooperation, but also active use of external accelerators and startup-related organizations. In particular, a local professional organization gave pitching training to domestic companies in advance and invited venture capital (VC) by utilizing the network.
To this end, KOTRA provided pitching training to startup companies in advance. An official from PetNow said, “I was able to learn not only the secret to making a strong impression in a short time, but also the know-how of pitching in English to non-English-speaking countries.” It was so successful that most of the brochures we prepared for the show were exhausted.”
A follow-up video conference after the MWC is also separately promoted. “We held a meeting for business difficulties for MWC participating companies,” said KOTRA President Jeong-yeol Yoo.