The Korea Federation of Micro Enterprise (KFME) has begun supporting promising domestic microbusinesses in entering the Chinese market.
The Korea Federation of Micro Enterprise (KFME) said on the 13th that it carried out activities for the "KFME China market development mission" in Shanghai from the 6th to the 9th.
This market development mission was jointly planned with the Korea-China Association. The Korea Federation of Micro Enterprise (KFME) explained that it prepared this program to provide new growth momentum to microbusinesses struggling with a sluggish domestic economy and to support microbusinesses that have strong product competitiveness but lack overseas expansion experience.
Participants in the mission included Korea Federation of Micro Enterprise (KFME) President Song Chi-young, industry association officials, and young microbusiness owners. Participants carried out a variety of activities in the Shanghai area, including attending investment consultations, touring a local Korea pavilion, visiting a large-scale industrial expo, and conducting market research.
The mission visited Songzeyingxiang, a healing theme park on the outskirts of Shanghai, and held a meeting with officials from the operating company, Fuji Group. Attendees analyzed recent market trends in China and discussed the potential for theme-park-linked projects.
The mission attended The One Pet Show, China's largest pet industry expo, held at the NECC Convention Center in Shanghai, examined the status of China's pet industry, and held import-export consultations with local corporations. The Korea Federation of Micro Enterprise (KFME) and the Shanghai Pet Industry Association signed a memorandum of understanding (MOU) to expand mutual exchanges.
The mission also held a meeting with officials from Xujingzhen at the command headquarters of the China International Import Expo in Qingpu District, Shanghai. Key local officials, including Party committee secretary Xiao Xiaoping and deputy town chief Wu Zhengfeng, attended the meeting.
The mission then visited the Korea pavilion that the Korea-China Association operates in a large local shopping mall and also held consultations on plans for store entry and distribution strategies.
President Song Chi-young said, "Products and services of K-microbusinesses are fully competitive in global markets," adding, "We hope this China market development mission will be an important turning point for microbusinesses to move beyond the limits of the domestic market and advance into the global market."
The Korea Federation of Micro Enterprise (KFME) plans to continue promoting a "global microbusiness development roadmap" to expand export markets to a variety of countries, not only China.