-
Korea.net's 24-hour YouTube channel- NEWS FOCUS
- ABOUT KOREA
- EVENTS
- RESOURCES
- GOVERNMENT
- ABOUT US
A special fair in Los Angeles has reaffirmed that there is much interest among U.S. investors in a range of Korean products and advanced technologies.
The Creative Economy Global Roadshow, running from July 29 to 31, had a total of 90 Korean companies, including 19 startups, from across the IT, content, cosmetics and fashion sectors, showcasing their own products and technologies. The show consisted of business talks on attracting investment and exhibitions that gave a glimpse into Korean products and high-end technologies.
A number of U.S. investors, for example, from Strong Ventures, BAM Ventures, Trimantium Capital, to name only a few, showed keen interest in the many creative Korea-made items, including the smart robot Ijini (아이지니), the DramaPic (드라마픽), a tool designed for on-screen translations, and an Internet of Things (IoT)-based tape measure.
Bagel Labs, the firm that developed the smart tape measure, made a deal with Silicon Valley-based Ignite XL, a company that helps small entrepreneurs grow into global companies. With the deal, the Korean firm will be given some space in LA to conduct its business, as well as receive counseling on marketing, and attract more investment. The firm also brought in USD 1.38 million worth of crowd funding.
Booths with cosmetics, fashion and day-to-day items were crowded with buyers throughout the trade show. The Shine & Shine cosmetics company was able to secure a series of export contracts worth USD 100,000, while another cosmetics producer, O & Young Cosmetics, sold out 5,000 facial masks.
Throughout the three-day trade fair, there were about 269 business negotiations between the participating Korean companies and 106 local buyers, which led to USD 6.6 million worth of contracts, in addition to USD 100,000 worth of contracts made on the spot.
“We made good use of our LA show to introduce what Korean small- and medium-sized companies are capable of, and, in particular, our startups. This will all help to pave the way to attract more US investment and to make inroads into markets here,” said an official from the Ministry of Science, ICT and Future Planning. “Hopefully, there will be more opportunities for Korean companies to expand their business in the U.S. using networks that they establish with investors and buyers here at this trade show.”
By Sohn JiAe
Korea.net Staff Writer
jiae5853@korea.kr
The Creative Economy Global Roadshow, running from July 29 to 31, had a total of 90 Korean companies, including 19 startups, from across the IT, content, cosmetics and fashion sectors, showcasing their own products and technologies. The show consisted of business talks on attracting investment and exhibitions that gave a glimpse into Korean products and high-end technologies.
A number of U.S. investors, for example, from Strong Ventures, BAM Ventures, Trimantium Capital, to name only a few, showed keen interest in the many creative Korea-made items, including the smart robot Ijini (아이지니), the DramaPic (드라마픽), a tool designed for on-screen translations, and an Internet of Things (IoT)-based tape measure.
A visitor tries on a set of virtual reality (VR) goggles at the Creative Economy Global Roadshow, held from July 29 to 31 in LA. It showcased a range of Korean products and technologies for U.S. investors and buyers.
Bagel Labs, the firm that developed the smart tape measure, made a deal with Silicon Valley-based Ignite XL, a company that helps small entrepreneurs grow into global companies. With the deal, the Korean firm will be given some space in LA to conduct its business, as well as receive counseling on marketing, and attract more investment. The firm also brought in USD 1.38 million worth of crowd funding.
Booths with cosmetics, fashion and day-to-day items were crowded with buyers throughout the trade show. The Shine & Shine cosmetics company was able to secure a series of export contracts worth USD 100,000, while another cosmetics producer, O & Young Cosmetics, sold out 5,000 facial masks.
Throughout the three-day trade fair, there were about 269 business negotiations between the participating Korean companies and 106 local buyers, which led to USD 6.6 million worth of contracts, in addition to USD 100,000 worth of contracts made on the spot.
More than 90 Korean companies from IT, content, cosmetics and fashion attracted a range of investors and buyers at the Creative Economy Global Roadshow held recently in LA.
“We made good use of our LA show to introduce what Korean small- and medium-sized companies are capable of, and, in particular, our startups. This will all help to pave the way to attract more US investment and to make inroads into markets here,” said an official from the Ministry of Science, ICT and Future Planning. “Hopefully, there will be more opportunities for Korean companies to expand their business in the U.S. using networks that they establish with investors and buyers here at this trade show.”
By Sohn JiAe
Korea.net Staff Writer
jiae5853@korea.kr
Most popular
KOREA.net
Copyright © Ministry of Culture, Sports and Tourism