This was announced by the South Korean International Trade Association (KITA) and added that more than 1,000 business meetings were held with 139 companies in Colombia and 78 distributors from 16 Latin American countries.
The Korea Product Roadshow Colombia 2021 business roundtable, an event that sought to strengthen alliances between South Korea, Colombia and other Latin American countries, left short and medium-term business opportunities exceeding US $ 74.6 million, according to spokespersons for the South Korean International Trade Association (KITA).
KITA and the South Korean Ministry of SMEs and Startups (MSS) were the organizers of the event, which was held in Corferias, in Bogotá, and which was focused on beauty, design, quality and innovation.
According to the organizers, between June 1 and 2, the business event held more than 1,000 business meetings with 139 companies in Colombia and 78 distributors from 16 Latin American countries.
In addition to the face-to-face event, virtual activities were held. “An e-commerce for buyers and participants was prepared using a live broadcast with social media influencers. We hope to compensate for the potential shortcomings that video conferencing may pose and maximize the result with various options, ”said Kwan-Sup Lee, Executive Vice President of KITA.
“Colombia is the country with the highest economic growth rate for 2025 and is among the five main GDP budgets of Latin America. The e-commerce market in the continent is growing and KITA will actively support Korean companies to enter the Latin American arena by seeking cooperation with the main e-commerce platforms in the region, ”said Kim Hyun-chul, CEO of KITA.
In 2016, when the FTA came into force, trade between South Korea and Colombia amounted to US $ 1,300 million and increased by 44.7%, since for 2019 it closed at US $ 1,900 million, according to figures from the association.
