Seoul's 16 Hi-Seoul Firms Achieve ₩28.4 Billion Export Feat in Central Asia

The Seoul Metropolitan Government and the Seoul Business Agency (SBA) have achieved the promotion of export contracts worth over $20 million through the dispatch of a market development delegation to Central Asia, giving a green light to the expansion of global sales channels for Seoul's small and medium-sized enterprises (SMEs). From July 14 to 18, SBA dispatched a market development delegation consisting of 16 Hi-Seoul companies to Kazakhstan and Uzbekistan, carrying out active engagements, including a total of 228 business consultations and the signing of 20 MOUs. Notably, they promoted export contracts totaling $20.37 million (approximately KRW 28.37 billion) and achieved the remarkable feat of securing $1.32 million (approximately KRW 1.85 billion) in on-site contracts. Key achievements include AI commerce specialist company, Einvention, promoting 4 MOU signings and agency contracts worth $880,000, while KSI signed an MOU for road safety barrier installation valued at $350,000. In addition, several participating companies such as UMI Optics, Dr. Diary, and Lilycover also demonstrated their competitiveness in the Central Asian market by achieving one or more significant cooperative outcomes. Since the Russia-Ukraine war, SBA has viewed Central Asia, a region expected to serve as an alternative export hub and achieve over 5% annual economic growth, as key to diversifying the market for New Northern Countries (CIS), and has intensively supported Hi-Seoul companies in high-demand local sectors such as AI·ICT, bio·healthcare, consumer goods, and materials, components, and equipment (Soo-Boo-Jang). Prior to the dispatch, SBA conducted systematic pre-marketing, including diagnosing global expansion capabilities for each company, 1:1 consulting, and local market seminars. They also identified buyers through cooperation with local organizations and maximized consultation efficiency through prior video meetings. Lee Jae-hoon, Head of SBA's Global Marketing Division, stated, "The achievements of this market development delegation will serve as an important stepping stone for Seoul companies to build their export base and network in Central Asia," and revealed plans to continue overseas marketing, which began in earnest in 2023, to Indonesia, New York, and other locations. Meanwhile, the Hi-Seoul Company certification is the Seoul Metropolitan Government's sole excellent company certification program, and since 2004, 1,107 companies have been certified, contributing to the revitalization of Seoul's economy and an increase in exports.