Ambassador Mr Jung Yung Soo (sixth left) and Mr Kim Pilseong (fourth left) join Korean business leaders at the start of the trade mission in Vientiane on Tuesday.

KOTRA Vientiane hosts Korea Chungbuk Trade Mission

Korean consumer goods manufacturers, producers and suppliers hope to expand their market in Laos by promoting and expanding their business in the Asia-Pacific region, especially Laos.
 Laos’ economy might be a small domestic market but has a potential market opportunity for foreign businesses to promote, invest and expand their businesses. The business relationship, partnership and collaboration between Korean and Lao business operators has been improving, moving in the right direction, and striving for success, according to the Korea Trade-Investment Promotion Agency (KOTRA) Vientiane.

A one-on-one meeting between Korean and Lao companies.

To promote business ties between Lao and Korean businesses, the Korea Chungbuk Trade Mission took place in Vientiane on July 4.
A variety of high quality and affordable beauty and cosmetics products from the Republic of Korea (ROK) were introduced to Lao businesses and the general public.
The exhibition was hosted and supported by KOTRA Vientiane, CHUNGCHEONGBUK-DO, and the Chungbuk Business Agency.
The exhibition aimed to create markets and opportunities for Lao SME entrepreneurs and business owners to discuss business strategies, marketing and business development with their Korean counterparts.
Ten Korean companies from Chungbuk province participated in the event to promote their products, especially K-beauty and cosmetics, packaged foods, and health supplements.
K-Cosmetics products are renowned and accepted worldwide. The ROK is one of the world’s leading markets in beauty, skincare and cosmetics exports and has greatly increased in recent years.
The Korean government will continue supporting and developing the cosmetics industry, communicating, cooperating, and strengthening regulations to ensure safety.
Dodream Co., Ltd. is a pioneer in skin cell science, a specialised cosmetics company founded in January 2014, which used skin-friendly natural substances made from Golden Silkworm and Gold Cocoon extracts. Key products are the Golden Cocoon Mask Pack, Golden Cocoon Capsule Cream, Hair Oil Golden Cocoon Ampoule, Golden Cocoon Shampoo, and other great products.
BAC KOREA Co., Ltd. is a cosmetics company, and its products are made from natural ingredients. Its brand stands for Beautiful Basic and Colour, distributing one of the best cosmetics and colour make-up products. The essence of sunscreen is a long-lasting, soft feel, water flux, and soothing feel.
Eden F & C is a leading home meal replacement and plant-based meat (PBM) production, original design manufacturer ODM professional enterprise. It is a reliable and trustworthy partner company caring for and saving environmental resources, and sharing profits with neighbours and society. They make the best widely consumed domestically and internationally packaged meal products such as PBM products, convenience foods, K-street and others. It is expected that K-street foods will be increased and widely consumed by Lao people.
Children’s physical and mental well-being, growth and development are the most important part of a child’s life. Nfood Co., Ltd. is an appealing company that specialises in health supplements for children such as vitamins and collagen VITA and other products that are essential for development.
During the trade mission, at least 77 one-on-one business matching sessions between Korean and Lao companies took place, involving 43 Lao companies.
The two sides held meetings, exchanged information, discussed product details, and learned about the Korean business vision and culture as well as trade imports and sourcing Korean products for the Lao market.
After attending these meetings, some Lao enterpreneurs said there were some products that would undoubtedly be successful in the Lao market such as K-street food and beauty and cosmetics products, especially items made from the golden silkworm cocoon, vitalising serum, and other beauty and make-up products.
During the event, the Ambassador of Korea to Laos, Mr Jung Yung Soo, visited each booth to encourage participating companies to take this opportunity for private sector bilateral cooperation.
The Director General of KOTRA Vientiane, Mr Kim Pilseong, said KOTRA not only introduces and finds high-quality products from Korea for Lao companies, but also helps to communicate and link the two countries in the consumable product sector and handles the import process for Lao buyers.
“We also support Lao companies who wish to import products for initial testing for the Lao market on Korean products through Facebook and offline activities to promote and increase sales volume. KOTRA Vientiane not only supports the export of Korean products to the Lao market, but we also help Korean companies interested and looking to import traditional Lao products to Korea, such as the famous Lao coffee and mining products,” he added.
The business exhibition of the Korea Chungbuk Trade Mission 2023 was a successful event, featuring one-on-one business matching sessions and creating business opportunities such as trade imports and sourcing Korean products for the Lao market.
The trade mission is a great way to show Lao companies that their Korean counterpart is a serious, reliable, caring and trustworthy partnership. In the future, KOTRA Vientiane will arrange for more Korean companies and businesses to come to Laos.
Chungbuk is a clean and beautiful land-locked province of the ROK, surrounded by mountains and located in the Hoseo region in the south-centre of the Korean Peninsula, with a population of over 1.5 million. The province specialises in ginseng and tobacco and is the economic centre of Korea.

 
By Advertorial Desk
 (Latest Update July 5, 2023)