Sri Lanka Food Festival Chairman Shin Myoung-jin particip...
Korea•Cuba Economic Cooperation Committee Banquet Chairman Shin, Myoung-jin (Vice-c...
Visit of the Indonesian Ambassador to South Korea Chairman Shin Myoung-jin discussed plans to hold the KOIMA Import...
Exclusive Meeting with the Deputy Prime Minister of Belarus Chairman Shin Myoung-jin had an e...
Korean Economy News
- Nongshim’s Shin Ramyun available at all Walmart stores in U.S. 2017-08-17
- Korean govt, central bank to act “decisively” against market volatility 2017-08-17
- Samsung unveils new portable SSD T5 with 540 MB/s transfer speed 2017-08-17
- Naver refuses to come under traditional “chaebol” category 2017-08-17
- Eggs pulled out of shops in Korea amid pesticide contamination scare 2017-08-17
- KOIMA Import Delegates' visit to Indonesia
- South Korean entrepreneurs who are the members of the Korea Importers Association (KOIMA) plan to visit Indonesia to see directly and buy the products of the country. On Monday (10/07/2017), the official statement of the Indonesian Embassy in South Korea stated that more than 100 Importers from South Korea are having a visit to the country for business reasons. From July 12-15, 2017, a series of activities, including business forums, one-on-one business matching and industrial visit. The delegation has been led by Vice-Ambassador of Indonesia, Cecep Herawan and Chairman of KOIMA, Myoung-Jin Shin. According to the Trade Attaché of the Indonesian Embassy (Seoul), Aksamil Khair, the number of delegates has reached 120 people, consisting of the company's Chairman and the officials of KOIMA. "Products of interest by members of the delegation are quite diverse, including rubber products, CPO, electronics, textiles, wood, coconut products, chemical products, building materials, cosmetic materials, glass products, handicrafts , food products and others, " - Aksamil Khair. In order for this mission to be successfully generating trade contracts before the departure, they have to facilitate communication with potential suppliers from the homeland. Thus, in the future, it would be finalized and enhanced the relationship. Ambassador of the Republic of Indonesia in Seoul, Umar Hadi, has conducted intense discussions with Chairman of KOIMA in an effort to increase Indonesia-South Korea trade. One of the efforts was sending the importers to the forum, with lots of possibilities. "I am confident that this visit will be able to pump back the bilateral trade performance that has decreased," said Ambassador Umar Hadi. Total Indonesia-Korea trade in 2016 was recorded at the US $ 14.8 billion, an 11% decrease compared to the previous year's trade. Nevertheless, there is a surplus on the side of Indonesia of the US $ 1.6 billion. Meanwhile, in January-May 2017, total trade amounted to US $ 7.3 billion, an increase of 22.6% against 2016. Korean imports from Indonesia are still dominated by raw materials and finished goods such as coal, rubber, plywood, other mining products and electronic components. However, other products like the garment, footwear, vegetable oil and other non-oil products have shown a tremendous increase in the last 2 years.
- KOIMA Chief calls for bold action to promote Korea’s buying power
- By using its “buying power” in the global market as leverage, South Korea has been able to secure new export partners more easily and it is time to be aggressive in promoting Korea as a big importer in the global market, said Shin Myoung-jin, chairman of Korea Importers Association (KOIMA). In a recent interview with Pulse, Shin, who was newly appointed as the 20th chairman in March, noted that Korea is well known as a major exporter in the world but little is known that the country is also the world’s tenth-largest importer. “The government and people are now well aware that a virtuous cycle of exports and imports is what promotes the industry growth in Korea and that imports help bolster exports,” Shin said. The chairman emphasized that Korea lacking natural resources depends more than 99 percent of natural resources on imports. More than 60 percent of the country’s total imports are raw materials. “Korea cannot send goods outside the country without importing raw materials,” Shin said. As part of efforts to make Korea more known as a major importing country and to secure stable suppliers, KOIMA has been sending delegates overseas. Representatives visited Myanmar in June and Malaysia in July, and they also plan to visit China, Canada, Cuba, and Taiwan in October and November. “By sending delegation to strategic export countries, we have been able to pioneer new export markets using the buying power of Korean companies and secure new customers,” Shin said. He added that KOIMA plans to continue with its efforts to promote the country’s buying power next year by sending delegations to emerging and developing countries including Mongol and Sri Lanka and those in Central Asia, Central and South America, and east Europe. KOIMA’s active role in trying to resolve trade imbalance has allowed the association to become one of the most popular organizations among foreign ambassadors and commercial attaches in Korea. In a survey conducted several years ago asking foreign embassies in Korea to pick a Korean organization that offers the most useful resources and assistance to their own respective countries, 58 percent of respondents responded it was KOIMA. Shin, who is also chief executive of Chunjin Chemtec Co., an importer of natural rubber, is a legendary businessman. He founded the company when he was only 27 years old by opening up the import market for natural rubber from Malaysia that had been dominated by Japanese trading companies. By Park Yong-beom
- International IT & Mobile Expo 2018 (Poland)
- A notification from Trade, Investment Promotion Division, Embassy of the Republic of Poland in Korea. The International IT & Mobile Expo will be held in Poland in March 2018. The information about the exhibition is shown below: International IT & Mobile Expo Date: 07/03/18 ~ 09/03/18 Location: Poland Display Items: - Computer - 3D Computer - Smart Phone - IT / Mobile Components - Antenna - Mobile / IT Consulting, Outsourcing - Software - Start-up - Others (refer to the attachment) Host: PTAK WARSAW EXPO Contact Details: Person In Charge: Agnes Garbos (Exhibition Director) E-mail: firstname.lastname@example.org Tel: +48 517 123 021 Address: Al. Katowicka 62, 05-830 Nadarzyn, Poland Website: WWW.ELECTRONICS-SHOW.COM Please also refer to the attachment provided for further information. If you have any enquiries or any requests, please contact the following department or the person in charge directly.
- International Electronic Show 2018 (Poland)
- A notification from Trade, Investment Promotion Division, Embassy of the Republic of Poland in Korea. The International Electronics Show will be held in Poland in April 2018. The information about the exhibition is shown below: International Electronics Show Date: 13/04/18 ~ 15/04/18 Location: Poland Display Items: - Computer - 3D Computer - Smart Home - Photograph - Robotics - Start-up - Audio, Video, VR & AR - Others (refer to the attachment) Host: PTAK WARSAW EXPO Contact Details: Person In Charge: Marek Maciazek E-mail: email@example.com Tel: +48 572 504 646 Person In Charge: Marcin Gorecki E-mail: firstname.lastname@example.org Tel: +48 572 504 644 Website: WWW.ELECTRONICS-SHOW.COM Please also refer to the attachment provided for further information. If you have any enquiries or any requests, please contact the following department or the people in charge directly. Thank you for your attention and consideration.
- 「2017 TIGIS & PV Trade Meetings」 Union Export Counseling (Taiwain)
- A notification from Taipei Representative Office. Please refer to the following attachments prior to "2017 TIGIS & PV Trade Meetings". Thank you for your attention and consideration. Economic Division Taipei Mission in Korea 駐韓國代表處經濟組 TEL; 02-732-9871~2 FAX: 02-732-9874
- Polish Company (Jewellery)
- A notification from Trade, Investment Promotion Division, Embassy of the Republic of Poland in Korea An Update of the Polish Company: W.KRUK S.A. Products: Jewellery Person In Charge: Ms. Magdalena Nowicka (International Sales Representative) Address: ul. Pilotów 10, 31-462 Kraków, Poland Tel: +48 661 980 241 Fax: +48 12 656 50 98 e-mail: email@example.com If you are interested or have any inquiries, please refer to the information above. Thank you for your attention and consideration.
- 35th Pakistan International Carpet Exhibition 2017
- A notification from the department of commercial affairs, Embassy of the Islamic Republic of Pakistan in Korea. The 35th International Carpet Exhibition 2017 will be held in Pakistan this year. For more information or about the schedules, please refer to the following attachment. Thank you for your attention and consideration. 35th Pakistan International Exhibition 2017 Date: 05-10-2017~07 Location: Falettis Hoyel, Lahore Host:Pakistan Carpet Manufactures & Exporters Association (PCME A) PCMEA Mr. Akhtar Nazir Khan e-mail: firstname.lastname@example.org Department of commercial affairs Tel: 02-796-8252 (Hotline 108,114) email: email@example.com
New Members from Overseas
- Main Activities of Korea Importers Association in 2016
- - Import Mission to Foreign Countries - Visits from Foreign Ambassadors