New Southern Policy Set to Kick Off in Changwon

KWCE Business Week 2020 to be Held in Changwon in November

Business Exchange Using a Hybrid of Online and Offline Channels

Opportunities to Lead New Southern Policy and Revitalize Changwon’s Economy

In July 16, Huh Sungmoo, Mayor of Changwon City, announced that the first Korea·World Chinese Entrepreneurs Business Week (hereinafter referred to “KWCE Business Week”), an event for business exchange between global Chinese enterprises and domestic companies, will be held on November 11-15, 2020 at Changwon Exhibition Convention Center and several venues around the city.

Chinese entrepreneurs, which are one of the world’s Big Three business networks along with Jewish and Arab entrepreneurs, have dominated the ASEAN economy based on their enormous economic power worth KRW 2,400 trillion. Next-generation managements of leading Chinese enterprises in ASEAN are looking forward to the expansion of personal and material exchanges and knowledge transfer in key industries (e.g. machinery and precision instrument, electrical and electronic products, transport equipment) which lay the foundation for tertiary and quaternary industries.

Changwon, which is highly dependent on international trade, has actively taken the initiative to host a business exchange event with Chinese enterprises with aims to help local businesses expand exports, explore overseas markets and attract foreign investment under the banner of “Key industries of Changwon City would attract Chinese enterprises.” Thanks to such efforts, the city successfully attracted the KWCE Business Week last February.

World Chinese Entrepreneurs Convention is a biennial event aimed to promote friendship and information sharing among global Chinese enterprises. On the other hand, the KWCE Business Week is the first B2B exchange event of its kind hosted by Chinese entrepreneurs and attended by CEOs and managements of leading Chinese enterprises around the world. This event is expected to provide practical business opportunities to both domestic companies aspiring to enter ASEAN markets and Chinese enterprises here in Changwon.

Since attracting the KWCE Business Week last February, Changwon City has put together a dedicated task force team to identify the demand for businesses with Chinese enterprises among domestic companies, and at the same time has had consultation with government agencies on a variety of matters to ensure a successful hosting of the event.

Especially with the sponsorship of the Presidential Committee on New Southern Policy and the Ministry of SMEs and Startups, the KWCE Business Week will also serve as an important government-backed business event associated with New Southern Policy, the promotion of “Brand K,” etc.

In addition, Changwon City will host the event using both online and offline channels in an effort to overcome the challenges posed by the COVID-19 pandemic.

▲ The online channel features 3D virtual exhibition, video conference, Korea·World Chinese entrepreneurs network party, video business consultation and investment briefing, on-air business tour, and other high quality business support services, all of which will be provided on a membership basis.

▲ For the offline channel, the city will invite select Chinese enterprises from different countries or industries to Korea every month from August to November this year and match them with domestic companies through sales reception, B2B consultation, business and investment briefings, short Korean Wave cultural tours, etc. By doing so, the city will fully support a seamless business interaction which will not affected by the COVID-19 pandemic.

Particularly through the consultation with Singapore Chinese Chamber of Commerce (SCCC), the founder of World Chinese Entrepreneurs Convention, Changwon City will build and manage the database of Chinese enterprises and Big Buyers participating in the event. Based on this database, the city will launch and operate the online B2B platform “KWCE.net” which will help Changwon serve as an outpost to promote the trade between domestic companies and Chinese enterprises going forward.

Changwon City will provide outstanding Korean SMEs selected as 5 Most Promising Consumer Goods, Brand K, Global Strong SMEs, ExportVoucher, etc. with prioritized business opportunities, through the partnership with local SMEs and the Ministry of SMEs and Startups as well as local conglomerates in the key industries of Changwon. The city will also provide opportunities of business exchange with Chinese enterprises to domestic companies participating in the KWCE Business Week.

“Changwon City successfully attracted the first Korea·World Chinese Entrepreneurs Business Week as part of its efforts to help leading exporters hit hard by the COVID-19 crisis find new markets and to rejuvenate the local economy by attracting foreign investment,” said Mayor Huh. “‘The KWCE Business Week will provide a rare chance to meet with CEOs and managements of leading Chinese enterprises around the world as well as practice business opportunities. Especially introducing the hybrid of online and offline channels will minimize the impact of COVID-19 and at the same time fully support the international trade in connection with the government’s New Southern Policy. So I am looking forward to seeing active participation of Korean companies and we will do our best to ensure the KWCE Business Week will contribute to the revitalization of the local economy,” Huh added.

(庆南日报) http://www.gnnews.co.kr/news/articleView.html?idxno=450405

(周日首尔) http://www.ilyoseoul.co.kr/news/articleView.html?idxno=407502

(庆南道民新闻) http://www.gndomin.com/news/articleView.html?idxno=247909

(News庆南) http://www.newsgn.com/286116

(庆南Daily) http://www.kndaily.co.kr/news/articleView.html?idxno=160988

(亚洲通讯社) https://www.anewsa.com/detail.php?number=2176722&thread=09

Source : Changwon City(2020.07.16.)