Mr Mun In (front, fourth from left) joins Korean business operators and officials for a photo during the opening ceremony of the Gwangju Trade Mission 2023 in Vientiane.

Gwangju Trade Mission held at Crowne Plaza Vientiane

The 2023 Gwangju Trade Mission took place in Vientiane on November 2, featuring 10 renowned companies that manufacture competitive products such as beauty and cosmetics items and processed food from Gwangju province.
The trade mission also generated meetings with 35 local companies.
Sixty-five business meetings were held to exchange information, discuss product details and test products’ marketability, while learning about Korean business vision and culture.
The Korea Trade-Investment Promotion Agency (KOTRA) and the Gwangju Buk-Gu office collaborated to host a trade delegation from the Republic of Korea.
Based on the preliminary identification of potential buyers and market research, KOTRA arranged potential buyers and introduced K-premium products including cosmetics, hair care items, processed foods, contact lenses and so on, with the aim of promoting trade and fostering economic opportunities between the two countries.
Seven Memorandums of Understanding (MOUs) were jointly signed.
The first MOU that was signed between the Lao National Chamber of Commerce and Industry (LNCCI) and Buk-Gu Province in Gwangju Metropolitan City, represented by the President of the LNCCI, Mr Oudet Souvannavong, and the Mayor of Buk-Gu in Gwangju Metropolitan City, Mr Mun In, aimed identify opportunities to develop mutually beneficial trade and economic relations.
Six additional MOUs between private companies were signed.

The Ambassador of the Republic of Korean to Laos, Mr Jung Young Soo visit the 2023 Gwangju Trade Mission 2023 for the morale and encouragement of Lao and Korean entrepreneurs.

The Green Goods Company has entered into a partnership with Dongseo Green Co., Ltd. to introduce smart farming practices to Laos.
By leveraging Korean advanced technology, it plans to develop new projects that will increase productivity and make farms smarter. In the initial stage, The Green Goods Company will test and apply Korean total package smart farming solutions to its own farm.
Five MOUs were also signed among cosmetics companies and food manufacturing companies.
On November 3, Mr Mun In visited the Lao People’s Revolutionary Youth Union. He met with Secretary General Monexay Laomoaxong, along with high-ranking officials from the relevant authorities, and visited the Lao ICT and Digital Association, where he met with President Thanousone Phonamat of LIDA and ALO Technology Co., Ltd.
The purpose of this visit was to explore opportunities for mutual cooperation, while recognising the potential of the IT sector in Laos.
Mr Mun In suggested cultivating young and talented IT students by interacting with Gwangju-located universities with advanced IT technology.
The Director General of KOTRA Vientiane, Mr Kim Pil Seong, said that in 2023, KOTRA Vientiane successfully hosted 10 events, including trade missions, B2B collaborations, and product showcases.
The final event of this year, the 2023 Gwangju Trade Mission, stood out as a notable achievement. Throughout the year, KOTRA Vientiane not only organised offline events but also actively supported online meetings through Zoom.
KOTRA arranged 146 online meetings with the active participation of 105 Korean companies and 50 Lao companies.
KOTRA Vientiane continuously aims to further expand its efforts to promote trade between Laos and the Republic of Korea.

By Advertorial Desk
 (Latest Update November 10, 2023)