POSCO DAEWOO taps deeper into Chinese domestic market
– Company takes part in the 2016 Korea Brand & Entertainment Expo in China
– Promotes credible quality of Korean products to corporate with clients in China
– Signs MOU in order to promote Korean cosmetics products through Chinese online shopping mall Tmall
– Puts meaning in developing new business model in which conglomerate and small business coexists
POSCO DAEWOO announced that the company had took its first step into Chinese domestic market by participating 2016 Korea Brand & Entertainment Expo held in Shenyang, China from May 12 to 14, and in Chongqing, China from May 19 to 21. Organized by KOTRA, these events focus on China’s domestic market where the demand for so-called hallyu products is rising continuously. The expos feature nearly 120 Korean companies and more than 600 corporate clients in China.
POSCO DAEWOO will exhibit more than ten sorts of items related with cosmetics, electronics and healthcare goods produced by Korean companies. POSCO DAEWOO also plans to promote the credible quality of Korean products and discuss sales of the goods to Chinese domestic market. The company plans to support outstanding Korean business with its local network in China and business knowhow, such as stock management, legal advice and financing. It also plans to widen its distribution channels to establish a bigger business foothold there.
During the event, POSCO DAEWOO will sign a MOU with Cheil Worldwide and China’s Anhui Satellite TV, which will pave the way for the company to promote and sell natural cosmetic products made by Korea’s small cosmetics company, Cella, in Chinese local market. Cella’s products are scheduled to displayed in China’s entertainment shows that will be made in collaboration with Korea’s SBS TV, Cheil Worldwide and Anhui Satellite TV. This is expected to set an example of “hallyu convergence marketing.”
POSCO DAEWOO holds the exclusive rights to sell Cella’s products in China and is also responsible for all steps needed for their distribution, including financing, stock management and customs clearance. The company is working to make the products available at Tmall, one of the largest online shopping malls of China.