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KOTRA to host franchising trade show in China's central region

All Headlines 13:57 October 26, 2012

By Kim Young-gyo

HONG KONG, Oct. 26 (Yonhap) -- South Korea's state-run trade promotion agency said Friday it will host a trade show in December in China's central region as part of its efforts to promote South Korean products in the world's No. 2 economy.

The Korea Trade-Investment Promotion Agency (KOTRA) said the 2012 Korea Products Fair will be held in the city of Wuhan, the most populous city in central China, from Dec. 6 through Dec. 8.

The show, which is held on the sidelines of the city's annual International Import and Consumer Boutique Fair, is scheduled from Dec. 7 to Dec. 9.

The Korea Products Fair will help South Korean small and mid-sized firms expand into China's booming inner provinces, KOTRA officials said.

"Wuhan has grown into a key strategic point for firms that seek to make it into China's central region," KOTRA's Wuhan office said in a statement.

"The city is widely expected to become an important foothold for global firms to enter the Chinese market, following Beijing and Shanghai."

According to market researcher Economist Intelligence Unit, Wuhan is one of the 13 emerging megalopolises, or extensive metropolitan areas, in China.

Wuhan, the capital of Hubei Province, will act as a bridge between eastern China and western China, largely due to its relatively easier access to major cities such as Beijing, Guangzhou and Shanghai, experts say.

As China sees faster economic growth in the inner region, KOTRA has been increasing the number of its business centers across China this year in an effort to support South Korean businesses operating in the country.

KOTRA expects to have 15 business centers in China by the end of this year.

China is the largest buyer of South Korean-made goods and has contributed to Seoul's sizable trade surplus in recent years, while South Korea is China's third-largest trading partner after the United States and Japan.

Bilateral trade reached US$188.4 billion last year. Both countries are expecting the volume to top $300 billion in 2015.


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