Korea Fair in India 2020
Updated: Feb 18
Benchmark for achieving new heights in promoting India-Korea trade by KOTRA
Korea Trade-Investment Promotion Agency (KOTRA), has been known to be a major player to promote Korean companies in the South West Asian markets for more than a decade. Now it has stepped-up its efforts as evident by the trade promotions activities including trade delegations.
The Korea Fair in India (KFI 2020) was successfully conducted 5th Oct 2020 to 30rd Oct 2020, initially planned for 3 weeks (from conducted 5th Oct to 23rd Oct 2020) but extended by 1 week in consideration of buyer demand and schedule. Programs include Webinar and Video consultation with the Participation of 50 Korean companies and 102 buyers (at least taking one valid consultation). Up to 8 consultations was held per day (30 minutes per session) with specialize B2B counselling agency (C&K Commerce) for Interpretation. The event was implemented in cooperation with Tourism Department New Delhi Branch, KOTRA New Delhi Trade Center, And The Korean Cultural Center. Also Promoted various side events through joint institutional cooperation.
Products were showcase on Southwest Asia Regional Headquarters Online Platform (http://www.onlinkorea.org)
The event focused on enlightenment and strengthening of India-Korea trade relations. Hence, at the beginning of the event “Indian consumer goods market entry strategy” webinar was held on October 7th, which witnessed participation from 43 people including KFI participating companies, local companies in India and companies of interest. The webinar includes Indian market trends and major Issues, India consumer goods market entry strategy and Success stories in local expansion, Korean product purchase plan, Indian buyers’ products made in Korea Perspective and business strategy, KOTRA New Delhi Trade Center Affiliated Center Introduction, and Notes for KFI Participating Companies.
Key Presentation given by Kim Mun-young, head of the Southwest Asia Regional Headquarters and by Yoon So-yeon( Customs Officer), CEPA Utilization Support Center
The webinar was followed by video consultation for trade between Indian and Korean companies from various industries like
Food & beverages,
K-beauty- which itself is a combination of skincare, aesthetic cosmetics, colour cosmetics, nail care and beauty equipment.
The focus of the event was on the promotion of the 50 Korean companies and their promising products while supporting the business video consultations in an easy yet highly efficient way for the satisfaction of both suppliers and buyers. For this KOTRA, utilized multiple social media platforms including the likes of LinkedIn, YouTube, KFI Business Website, Facebook and online shopping website KoriKart, which promoted, imported and distributed the samples to potential buyers and influencers. KOTRA also conducted the 30 minutes video consultations through Zoom Video Meeting software and to ease the process of attending the video consultations it also provided virtual meeting guides on a prior basis to familiarize the participants with the platform before consultations. To ensure, there is no gap in communication between the participants by deploying interpreters for consultations.
Snippet from a video consultation
As part of KFI 2020, KOTRA also organized a Shopclues Day, which consisted of all the registered vendors and buyers of Shopclues (www.shopclues.com). The Shopclues day was deemed successful as 29 consultations were done with promising results.
The event was a collaboration between KOTRA offices in India (New Delhi, Mumbai, Bengaluru, Chennai, Ahmedabad, Kolkata), and Bangladesh (Dhaka). Which attracted 102 buyers in total, bringing the final video consultations to a sum of 359. This event is a benchmark as KOTRA introduced new promotion strategies for attracting potential buyers from the market.
Products were sent to major Indian influences and their review video were uploaded in KFI YouTube channel.
Product unboxing and honest review by the Influencer
This event didn’t just witness the traditional marketing setup by KOTRA consisting of Webinar, B2B matchmaking, promotional emails, social media advertisement, etc. but also the new age promotions like prior sample import and distribution to selective buyers via partner company KoriKart, video demonstrations of each company’s products by professional anchors and influencers in both English and Hindi. As demonstration videos focus more towards the features of the product and are found more appealing to the buyers than any dramatized video, etc.
Snippets from video demonstrations
KFI 2020 successfully ended on 23rd Oct 2020 and has received appreciations from various Korean, Indian and Bangladesh companies as this event provided them with the ideal scenario to see the products before the meetings via video demonstrations (uploaded on KOTRA’s YouTube channel), accompanied with proactive and fast responses from the partner companies and KOTRA representatives. Such assistance was a major reason for successful sample import requests and export to the buyers.
All the companies were satisfied because of the smooth process and assurance from KOTRA that every necessary assistance will be provided to them as follow up in the future too.
KFI 2020 Provides various opportunities such as securing various promotional contents and pre-testing the Indian market to establish new plans for small and medium-sized companies that are difficult due to Corona 19.