RI embassy, BNI teams up to bring SMEs to South Korea – Companies

Bank Negara Indonesia (BNI) has collaborated with the Indonesian Embassy in Seoul to bring in more small and medium-sized enterprises (SMEs) to exhibit their products in South Korea through the Import Goods Fair (IGF) 2022.

For the annual event, BNI brought Indonesian SMEs specializing in furniture and wood products, silver wares, coffee and other food products.

“South Korea is a big market potential for Indonesian SMEs considering the fact that 82 percent of South Koreans live in cities and have one of the longest life expectancies,” BNI’s director for consumer business Corina Leyla Karnalies said in a statement.

Import Goods Fair is the only B2B sourcing fair held in South Korea specializing in imported products.

In the exhibition, domestic and foreign small and medium-sized enterprises (SMEs) products such as food, household goods, kitchenware, living and home decor, beauty, cosmetics and trade and tourism services are being put on display. The event also has seminars as well as trade-policy briefings.

On the sideline of the event, the state-owned lender also signed a memorandum of understanding with the Korean Importers Association (KOIMA). Under the agreement, the two organizations will engage in a business-matching program as well as information exchange between Indonesian exporters and South Korean importers.

Indonesian Ambassador to South Korea Gandi Sulistiyanto said the agreement would allow BNI to become the conduit by which Indonesian companies could enter the South Korean market.

“With this, Indonesian exporters can meet South Korean importers while also increase the role of BNI as a global player,” Gandi said.