The Korea International Trade Association is hosting a two-day trade fair from Tuesday to match global retail buyers and local exporters in Seoul.

The 11th Korea Grand Sourcing Fair 2018, sponsored by the Ministry of Trade, Industry and Energy, the Ministry of Oceans and Fisheries and KB Kookmin Bank, is taking place at the Coex Convention and Exhibition Center with 118 buyers from 24 nations and around 600 Korean companies. 

Global retail and e-commerce firms, including 7-Eleven, Rakuten, Procter & Gamble and Suning.com, are participating in the event. Nine overseas home shopping firms are also taking part in the fair through the network of GS Home Shopping.

Alongside the nation’s key trading partners, companies from India, the Commonwealth of Independent States, Lebanon, Kuwait and South Africa have also joined the event through KITA’s regional offices.

The fair has a special pavilion for startups to help them advance into global markets, according to KITA. The pavilion features exhibitions of innovative products from 16 local startups, such as Dr.pik’s automatic oral cleaners and Mcell’s heat pads.

“We have focused on inviting buyers who are genuinely interested in purchasing Korean products. We will continue to make efforts to diversify export markets in line with new retail trends,” said Cho Hak-hee, chief of KITA’s international business division. 

By Shin Ji-hye (shinjh@heraldcorp.com)