SEOUL, KOREA – A trade show has been held in Wuhan, the capital of Hubei Province, to attract consumers in the Chinese inland provinces. The exhibition, with 76 Korean companies participating, is expected to yield more than USD100-million supply contracts.
The Korea Trade-Investment Promotion Agency sponsored a trade fair promoting Korea's superior products at the Wuhan International Exhibition Center from December 6. Major large Korean companies such as Hyundai Motor and LG Electronics, as well as small- and medium-sized enterprises such as Lock & Lock, Cuckoo Electronics, and NUC Electronics, have set up booth.
From the first day of the event, large-scale deals have been made. A kitchenware maker Woncera Tech succeeded in landing a USD 300,000 deal to supply frying pans. Komex also signed a contract to supply kitchen items worth USD 500,000 while Fairtrade Korea sold USD 800,000 citron tea.
Wuhan, the city with the population of 10.3 million as of end-2011, has per-capital income more than USD10,000. Despite the nation-wide recession, the city and the surrounding province have recorded a 12-percent growth rate last year, rising rapidly as a center of economic gravity.
*Article provided by The Korea Economic Daily
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