Business · Trade · 1 hr ago
Chungnam businesses secure North American export deals and contacts
Twenty Chungnam businesses met buyers in New York and Toronto to seek sales in North America.
The South Korean province said the meetings generated 353 consultations worth $66.95 million.
The consultations were not all completed sales: across both events, businesses signed 16 contracts and memorandums of understanding worth $21.58 million.
In Toronto, five businesses signed six memorandums of understanding worth $870,000, and a Cheonan company also secured a $120,000 export contract.
At the New York event, a food company from Nonsan and a cosmetics company from Dangjin signed contracts worth $1 million and $20 million, respectively.
Chungnam expects buyer contacts to lead to more exports, as interest in Korean food and cosmetics grows in North America.
Twenty Chungnam small and medium-sized businesses held export consultations in New York and Toronto, securing deals and contacts in North America.
The two events generated 353 consultations worth a total of $66.95 million.
Five companies signed six memorandums of understanding worth $870,000 in Toronto.
A Cheonan company, Biwon Biolab, signed an export contract worth $120,000 in Toronto.
Across both events, export contracts and memorandums of understanding totalled 16 agreements worth $21.58 million.
- Who
- Twenty small and medium-sized businesses from Chungnam took part.
- What
- They held export consultations in New York and Toronto, signing export contracts and memorandums of understanding.
- When
- The New York event was held on October 27, and the Toronto event on October 29, local time.
- Where
- New York, United States, and Toronto, Canada.
- Why
- Chungnam aimed to expand export opportunities in North America. The provincial government said interest in Korean products, including K-food and cosmetics, was growing.
This story does not have two clearly opposing sides.
A New York export consultation brought together 66 local buyer companies and generated 199 consultations worth $48.85 million.
A Toronto consultation involved 31 local buyer companies and generated 154 consultations worth $18.1 million; five Chungnam companies signed six memorandums of understanding worth $870,000.
Chungnam Province reported the results of the two events.
- Participating businesses
- 20
- Combined consultations
- 353 consultations worth $66.95 million
- Toronto memorandums of understanding
- 6 worth $870,000
- Biwon Biolab contract
- $120,000
- Combined contracts and memorandums of understanding
- 16 agreements worth $21.58 million