Gwangju Metropolitan City has signed export agreements worth $1.11 million targeting the markets in Uzbekistan and Mongolia. A $4,000 contract was also finalized on-site, raising interest in potential actual exports.
Recently, Gwangju dispatched a '2026 Central Asia Market Development Team' to Tashkent, Uzbekistan, and Ulaanbaatar, Mongolia, where they signed a total of $1.11 million (approximately 14.9 billion won) in export agreements (MOU).
The market development team introduced local products to potential buyers and explored market entry possibilities. Some companies secured contracts on-site, while follow-up discussions included requests for samples and quotes, as well as proposals for exclusive supply agreements.
In Tashkent, Uzbekistan, Bonggang Eco-Friendly signed a $500,000 agreement, and Pureun Food secured $150,000, totaling $650,000 in export agreements.
Mesacosa, Seogwang Food, SH Lab, and Wiro Food each signed contracts worth $1,000, totaling $4,000 on-site.
Support for local market entry was also provided. The South Korean Embassy in Uzbekistan will assist through the 'K-Initiative' core strategy, collaborating with the local business council and Korean community to provide market information and support for resolving challenges.
In Ulaanbaatar, Mongolia, a total of $460,000 in export agreements was signed.
By company, Seogwang Food, SH Lab, Wiro Food, and Pureun Food each signed agreements worth $100,000, while Bonggang Eco-Friendly signed for $50,000, and Seongji F&D secured $10,000.
Gwangju Metropolitan City views Central Asia and Mongolia as target regions for expanding the overseas market for consumer goods and agricultural products, given the relatively weak manufacturing base and demand for imported goods. The region's economic growth, young consumer demographics, and interest in Korean culture are seen as factors that enhance market entry opportunities for local companies.
Notably, follow-up requests for samples, quotes, and exclusive supply proposals from local buyers continue after the consultations, prompting plans for ongoing management to ensure that export agreements lead to actual contracts.
Min Soon-hee, the International Cooperation Support Officer of Gwangju Metropolitan City, stated, “This market development team has successfully connected the consumer demand in Central Asia and Mongolia, along with interest in Korean culture, to export opportunities for local companies. We will work hard to ensure that this achievement does not remain a one-time agreement but leads to actual contracts and sustained exports.”
Meanwhile, Gwangju Metropolitan City plans to hold online follow-up meetings in November and December to continue consultations between local buyers and participating companies. They will also manage the progress of each company to ensure that the export agreements and on-site consultation results lead to actual contracts and sustained exports.
* This article has been translated by AI.
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