S. Korean companies to showcase products in China

By Lee Youkyung
SEOUL, June 22 (Yonhap) -- More than a hundred South Korean companies will
showcase their products during a Korean merchandise fair in Beijing this week in
a bid to boost exports to China, officials here said Monday.

"Korean Products Show 2009, Beijing," which kicks off on Tuesday, will be
attended by 107 firms in information technology (IT), automobiles, energy and
consumer goods. They will include South Korea's largest automobile manufacturer,
Hyundai Motors Co., and its second-largest oil refiner, GS Caltex Co., according
to the Ministry of Knowledge Economy.
The three-day fair, first of its kind, was organized by the South Korean
government in an effort to stem a sharp drop in demand for Korean products in
China, the ministry said.
China has been South Korea's largest trading partner since 2003, sidestepping
such countries as the United States and Japan. South Korean exports have taken a
pounding in recent months, as the worldwide economic crisis has sapped demand for
electronics and cars.
Up to 3,000 potential buyers are expected to attend the event, and there is the
potential for South Korean firms to secure as much as US$200 million worth of
export-related deals, the ministry said.
South Korean exports to China reached US$ 91.3 billion in 2008, accounting for
21.6 percent of total outbound shipments. This is twice what South Korea sent to
the United States, its second-largest export destination.
However, South Korea's exports to China have dropped 24 percent on-year from
January to May to US$30.1 billion amid global economic slump.
ylee@yna.co.kr
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