▲ Chungnam Overseas Market Expansion Task Force Results Sharing Session

Under the 8th popularly elected administration, "Strong Chungnam" has successfully opened up more than 1 trillion won (approx. $700 million) in new overseas markets over the past three years. This achievement has been instrumental in maintaining Chungnam’s position as South Korea's second-largest exporter and the leader in trade balance.

On the 18th, the province held a results sharing session at Divine Valley in Asan, attended by Governor Kim Tae-heum and approximately 200 business leaders.

The province deployed its Overseas Market Expansion Task Force a total of 28 times across the United States, China, Japan, Europe (including Germany), and Southeast Asia (including Vietnam)—with 7 missions in 2023, 10 last year, and 11 this year.

Three of these events involved inviting international buyers directly to the province for export consultation fairs.

A total of 500 small and medium-sized export enterprises (SMEs) within the province participated in the task force missions 944 times, averaging 1.9 participations per company.

At 12 of these major export consultation events, Governor Kim Tae-heum took the lead as "Chungnam’s No. 1 Salesperson," personally engaging in sales activities and providing quality assurance for "Chungnam K-Products" to international buyers.

Through the Overseas Market Expansion Task Force, provincial enterprises conducted 7,857 export consultations totaling $1.54646 billion, resulting in 468 export Memorandums of Understanding (MOUs) worth $707.62 million (approximately 1.0381 trillion KRW).

A yearly breakdown of export consultations shows $500.51 million (1,036 cases) in 2023, $418.47 million (3,208 cases) last year, and $627.48 million (3,613 cases) this year.

Export MOUs recorded $2.1 million (14 cases) in 2023, $505.28 million (220 cases) last year, and $200.24 million (234 cases) this year.

Among the participating companies, "Hando," a Cheonan-based automotive parts manufacturer, connected with "W," a BMW supplier, while participating in the German trade mission in October 2023.

Over the course of two years, Hando proved its technical expertise, submitted samples, and underwent on-site inspections to secure a $2.8 million supply contract. Deliveries are set to begin next year, with negotiations for additional exports currently underway.

Guldari Fishery Union, an Asan-based salted seafood producer, previously faced challenges expanding its business due to the limited scope of the domestic market.

However, after participating in the "World Korean Business Convention" in the U.S. this past April as part of the task force, the company secured a $100,000 export contract with a major local supermarket chain, successfully establishing a foothold in a new market and expanding its export volume.

The province analyzes that the deployment of the Overseas Market Expansion Task Force has not only helped local SMEs break into new global markets but has also yielded significant results in building international networks and establishing a foundation for export independence.

The results sharing session proceeded with a screening of the task force’s highlight video, reports on achievements and future plans, presentations of success stories, and celebratory performances.

During the event, Governor Kim Tae-heum stated, "Chungnam has worked tirelessly to pave the way for our companies’ global exports under the firm belief that 'the success of export companies is the success of Chungnam.'" He further detailed initiatives such as opening additional overseas offices, appointing overseas trade advisors, dispatching market expansion teams, and hosting export consultation fairs for invited international buyers.

He continued, "Chungnam will open the doors to global markets even wider for our businesses. We plan to continuously expand the Overseas Market Expansion Task Force and make the buyer invitation consultation fairs a regular event held at least twice a year."

We will also strengthen the capabilities of our overseas offices to serve as hubs for global market entry and expand new digital-based export routes through 'Chungnam deXter,' he emphasized. "We will be the most proactive province in the country, serving as the ultimate export partner to help our entrepreneurs succeed."

Department in Charge: Investment and Trade Policy Officer, Trade Support Team

Phone Number: 041-635-3361