Competitive Korean SMEs and venture companies were selected and matched with buyers in Vietnam through 1:1 consultations on the 22nd
The event strengthened POSCO Group’s value-up ecosystem for SMEs and venture companies
On May 22nd, POSCO INTERNATIONAL (CEO Lee Kye-In) co-hosted the “TIPS Town World Show” export consultation event with the Pohang University of Science and Technology Holdings Co., Ltd. (hereinafter POSTECH Holdings) in Hanoi, Vietnam.
This collaboration event marks the first project by the two companies to establish a value-up ecosystem for promising small and medium-sized enterprises (SMEs) and venture companies in South Korea.
POSCO INTERNATIONAL selected 10 promising SMEs and venture companies, including EUCNC Co., Ltd., a manufacturer of environmentally friendly energy-saving thermal barrier paints, and Green Whale Global Co., Ltd., a manufacturer of biodegradable eco-friendly plastic. The 10 companies were chosen after comprehensive review of market demand, product competitiveness, and matching potential with buyers at this year’s “TIPS Town World Show.”
The selected SMEs and venture companies will receive various forms of support ranging from new business development to incubation. To facilitate this, POSTECH Holdings has pledged to provide R&D (research and development) support necessary for business development and to incubate startups through the operation of ChangeUp Ground, POSCO Group’s venture incubation facility. POSCO INTERNATIONAL plans to assist the SMEs and venture companies in expanding into overseas markets by leveraging its overseas branches and subsidiaries. The company will share operational know-how required for international business across all areas, from global promotion to buyer verification, contracts, logistics, and payment collection.
The 10 SMEs and venture companies participating in this event held one-on-one export consultations with more than 50 potential buyers in Vietnam, including AN PHAT HOLDINGS, a plastic manufacturing company, Techcons, a passive fire protection construction equipment company, and Son Hai Phong. Through these consultations, they assessed the feasibility of their businesses in Vietnam and explored opportunities for global expansion.
Choi Jang-Sik, CEO of EUCNC Co., Ltd., who participated in the export consultation, stated, “Since our first export to Indonesia last year, we’ve been seeking to expand overseas. We are grateful to have this opportunity to meet with blue-chip buyers in the market, thanks to POSCO INTERNATIONAL’s overseas network. We plan to discuss new business opportunities with the buyers connected through this export consultation event.”
Heo Sung-Hyung, Director of Corporate Citizenship at POSCO INTERNATIONAL, who organized this export consultation event, said, “Based on our global network, it is meaningful for us to explore overseas markets with competitive SMEs and venture companies and promote Korea’s excellent technology in order to secure our competitiveness in the long run. Moving forward, we will continue to support SMEs and venture companies struggling to expand abroad and contribute to strengthening national competitiveness by managing ongoing transactions.”
Meanwhile, POSCO INTERNATIONAL has been consistently conducting collaborative growth activities for SMEs and venture companies, based on its over 80 global networks across 45 countries. These activities include export consultation events, global market entry capacity enhancement consultations, and more. Particularly noteworthy is the company’s partnerships with eight external organizations, such as the Korea SMEs and Startups Agency, the Korea International Trade Association, and Incheon Startup Park, among others, aiming to assist over 80 Korean SMEs and venture companies in their overseas expansion efforts.