Lotte hosts Korea Brand Expo in Mexico, generating 300 billion won in export deals

By Kim Dong-young Posted : June 18, 2024, 14:09 Updated : June 18, 2024, 14:10
Lotte Homeshopping CEO Kim Jae-Gyeom giving a speech at the 2024 Korea Brand Expo in Mexico on June 15, 2024. Courtesy of Lotte Homeshopping
SEOUL, June 18 (AJU PRESS) - Lotte Corp., in collaboration with the Korea Trade-Investment Promotion Agency (KOTRA) and the Korea Federation of SMEs, organized the 2024 Korea Brand Expo in Mexico from Thursday to Sunday. The event, aimed at facilitating overseas market entry for Korean small and medium-sized enterprises (SMEs), resulted in export consultation deals worth approximately 300 billion won ($217 million).

This marked the first time the Korea Brand Expo was held in Latin America since it was launched in 2016 as a collaborative program by Lotte Homeshopping to support domestic SMEs' global expansion. From 2022 onwards, it evolved into a group-wide integrated project involving Lotte Corp. and its affiliates. The Mexican edition attracted 100 Korean SMEs seeking entry into the Mexican market, along with 80 buyers from seven Latin American countries, including Mexico, Colombia and Peru.

"We are pleased that the first Korea Brand Expo held in Latin America has successfully supported outstanding domestic SMEs in entering the global market," said Kim Jae-gyeom, CEO of Lotte Homeshopping. "Going forward, we will actively assist SMEs in exploring overseas markets by operating various collaborative programs, particularly in promising export regions."

The four-day expo showcased a diverse range of products, encompassing K-beauty items like essences and cushions, K-food delicacies such as tteokbokki, gimbap, and kimchi, as well as fashion and daily necessities.

Notably, an induction water purifier cooker garnered significant attention, leading to on-site export contracts exceeding 200 units. A company exhibiting ampoule sheet masks secured business agreements with six buyers, underscoring the keen interest of local buyers.

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