Gangnam-gu’s active support for SMEs yielded a set of great results

SEOUL, Korea (AVING) — <Visual News> Over three days from September 13, Gangnam-gu(Executive Officer Shin Yeon-hee) Office attended the F/W PREMIERE VISION together with SMEs who have great potential in textile manufacturing technologies and products. The office and companies had a total of 860 business consultations for contracts worth $ 24.84 million and actually signed 270 contracts worth $ 5.64 million.

This success followed a series of contract consultations at the Hong Kong Electronics Fair in April, at Shanghai Environmental Protection Exhibition in May, and at the Tokyo International Gift Show held from 7 to 10 of September. The contracts consulted at the above occasions amounted to $ 19.84 million, $ 26.9 million, and $ 29.7 million, respectively.

The F/W Premiere Vision is the world’s No.1 textile and fabric exhibition attended by 682 companies from 31 different countries and more than 50,000 textile experts. Gangnam-gu, jointly with Small and Medium Business Administration and Korea Textile Trade Association, supported 6 companies to participate in the event.

The support decision was made because the office saw some $ 30.7 million increase in export after it helped 7 companies go to the F/W Texworld USA last year.

Executive Officer, Shin Yeon-hee said, “Through various support programs for SMEs, including the one for specialized industries, we will establish ourselves as a business-friendly district and contribute to promoting local economy.”

Major achievements include the followings; ‘Duksung P&T’ specialized in synthetic leather and suede signed $ 3 million worth of contracts out of on-site contract consultations totaling $ 5 million, and is expecting further contracts of $ 6 million. ‘Young Textile’ had consultations worth $ 7 million and concluded 1.5 million worth of on-site contracts, and additional $ 3 million are expected. ‘Parker(?)’ recorded $ 9.75 million in consultations and looks forward to $ 4.3 million contract negotiations.

During the exhibition period, the office worked hard to help SMEs develop sales channels and increase their exports by holding meetings to provide the detailed information on overseas markets and the industry trend as well as colors and materials for 2011/2012 seasons.

CEO Roh Young-gi of Jinsuk Co.(?), a participant, said “It is not easy for SMEs to develop foreign sales channels. The participation in this exhibition would help our export a lot. I’d like to thank Gangnam-gu Office for supporting us. I will make a contribution to the growth of local economy.”