Yongin SMEs Conduct $115 Million Export Consultations in Caucasus

Yongin Special City (Mayor Lee Sang-il) has laid the groundwork for market entry into the Caucasus region by conducting export consultations in Azerbaijan and Georgia from the 19th to the 25th.

In collaboration with the Gyeonggi South Regional Headquarters of the Korea Trade-Investment Promotion Agency, the city dispatched a market exploration team to Azerbaijan and Georgia, which have emerged as logistics hubs connecting Asia and Europe amid the Russia-Ukraine war and changing Middle Eastern dynamics.

The market exploration team comprising six SMEs from Yongin achieved notable results. The city announced on the 28th that the team conducted a total of 49 consultations worth $8.55 million (approximately 11.5 billion won) in export deals.

The market exploration team's activities in Georgia are recorded as a first for Yongin City.

The overseas market exploration team included six companies: Han & Global (snacks), Solabil (health supplements), Jinwoo Bio (cosmetics), JACE's (meal kits), FireZero (automatic fire extinguishers), and Taesan Sangyeok (industrial safety protective clothing).

On the 20th, these companies conducted a total of 31 consultations worth $4.57 million at the first export consultation meeting held in Baku, Azerbaijan. Solabil, a health supplements company, achieved a notable success by concluding an export memorandum of understanding (MOU) valued at $100,000.

On the 22nd, the team conducted a total of 18 consultations worth $3.98 million in Tbilisi, Georgia, exploring transaction possibilities with local distribution partners.

Mayor Lee Sang-il stated, "We have once again confirmed the competitive strength of local SMEs' outstanding products in Georgia, where a local government dispatched a market exploration team for the first time, and in Azerbaijan, an emerging promising market. We will provide support so that these consultations can lead to practical commercialization and additional exports."