S. Korean firms open first products fair in Africa

SEOUL, July 5 (Yonhap) -- South Korean companies have launched their first large-scale products fair in Africa in an effort to expand their presence in the largely untapped market, a state-run trade body said Tuesday. The fair started at a convention center in Johannesburg, South Africa, on Monday for a three-day run, featuring three pavilions covering more than 5,000 square meters, the Korea Trade-Investment Promotion Agency (KOTRA) said. A pavilion is dedicated to products made by 80 local small and medium enterprises (SMEs), with an exhibition hall highlighting goods produced by South Korean conglomerates already operating in the country, such as Samsung Electronics Co., Hyundai Motor Co. and steel giant POSCO. The South Korean government has also built a "Premium Korea" pavilion to showcase the country's cutting-edge industries and culture, KOTRA said. "Visitors can experience both the industrial and cultural sides of South Korea at the exhibit," KOTRA said. "The Premium Korea pavilion, in particular, will permit people to experience the latest advances in three-dimensional TVs, information technology (IT) devices and online games." Up to 500 potential African buyers from many countries are scheduled to hold one-on-one talks with Korean corporate representatives at the fair, the agency said, adding that there is a need for South Korean companies to win over African consumers and businesses and create lasting partnerships. The agency said that it has also arranged an "Africa Project Plaza" event to help business leaders from nearby Nigeria, Kenya, Ghana and Sudan examine South Korean capabilities in power generation, transportation, steel production and port facility building. In addition, KOTRA said it will hold the so-called e-Smart World Africa that can help South Korean conglomerates and SMEs gain access to IT buildup projects on the continent.