Lao and Korean officials gather with business operators from the two countries for a photo at the event in Vientiane.

Discovering Ulju K-Consumable Goods Showcase for Laos

The business relationship between Korean and Lao companies has been strengthened during the 1st Ulju K-Consumable Goods Showcase organised by the Korea Trade Investment Promotion Agency (KOTRA) Vientiane.
The event aimed to introduce and promote distinctive-quality Ulju K-Consumable goods to Lao people.
Held from June 16-18 at the kok kok Mega Mart in Vientiane, distinctive consumer goods, cosmetics, and other items from Ulju-gun in the Republic of Korea (ROK) were introduced through online and offline promotional activities.
The showcase was hosted by Ulju-gun and implemented by KOTRA Vientiane and kok kok Mega Mart, with support from the Department of Trade Promotion of Laos’ Ministry of Industry and Commerce.
Seventeen Korean companies headquartered in Ulju-gun came to Laos to present their products and offer diverse experiences, such as tasting, testing and smelling.
Ulju-gun is a county in Ulsan metropolitan city, ROK. Ulju is the second most populous county in the Republic of Korea and well known as the powerhouse for its manufacturing base. Scalable oil refineries are located in Ulju-gun, while S-Oil, SK Innovation, LG chemicals, and Samsung SDI have their manufacturing facilities in Ulju.

Ulju B2B Partnership Plaza for non-consumable items.

Ulju K-Consumer product showcase booths attract the interest of numerous visitors.

In Vientiane, a Memorandum of Understanding between the kok kok Mega Mart and the Ulsan Livestock Cooperative was signed on cooperation in the promotion of Hanwoo Beef products and to carry out a feasibility study on the opening of a franchise store in Laos.
Chairman of the KOLAO Group, Mr Oh Sei Young; President of the KOLAO Group, Mrs Thavone Vongsombath; President of the Business Operation and Growth of the KOLAO Group, Mr Kim Sang Guk; CEO of kok kok Mega Mart, Ms Prapavadee Kuwasarn; Director General of the Department of Trade Promotion, Ministry of Industry and Commerce, Mr Xaysomphet Norasingh; Director General of KOTRA Vientiane, Mr Kim Pil Seong; Director General of KOTRA Ulsan, Mr Yoon Yeopil; Representative of the Ulju Trade Mission Delegation, Mr Shin Hongsuk; and the Representative of Ulju-gun, Ms Kim Minseo, along with other officials from the KOLAO Group attended and celebrated the opening of the event.
Mr Kim Sang Guk thanked the Ulju business delegation for their innovative ideas and introducing their premium K-consumable goods to Lao people, gaining new customers and breaking into the Lao market.
He encouraged Lao companies to take the opportunity to become distributors, saying K-consumable goods are well-known worldwide.
The one-on-one business matching session between Korean and Lao companies was successful and more than 75 Lao companies gained valuable information. They engaged in 130 meetings and learnt about each Korean company’s products, technology, and business development.
Three Korean non-consumable product companies introduced their products and company portfolio to Lao company representatives and sought potential partnerships with Lao companies in the automotive industry.
On the second day, 14 companies from Ulsan displayed and explained their products while offering diverse and interesting experiences to audiences.
The 3-day event attracted over 3,000 visitors in total.
A premium Hanwoo beef supplier, the Ulsan Livestock Cooperative, was one of the companies showcased at the event.
The company has won a Presidential Award three times, most recently in 2022 at the Korea National Hanwoo Beef competition.
During the event, the Ulsan Livestock Cooperative offered tasting opportunities and all processed Hanwoo beef products were sold out on the first day.
Kweon Do Yeong Aloe is an organic Aloe Saponaria product specialised in premium organic Aloe Saponaria juice and jelly. The products attracted the interest of numerous customers and was the best-selling product at the event, especially among Koreans and foreigners living in Laos. Some top-tier Lao companies asked about possible co-investment in Laos.
From the Korean company representatives’ perspective, there are some products that will undoubtedly be successful in the Lao market and are must-try K-products such as Hanwood beef, organic Aloe Saponaria, red Ginseng mixed coffee, soybean paste, sesame oil, skincare products, and the Korean ramen noodle cooker venting machine. Some products are already available at the kok kok Mega Mart.
This is the right time for Lao companies to team up with Korean business partners, invest, promote and gain access to Korean products, and learn about the Korean market and market strategy.
Director General of KOTRA Vientiane, Mr Kim Pilseong, said “This event was inspired by the idea of linking Korean Ulju district and Laos to increase the direct partnership between two regions.”
“Although it is mainly supplying Korea consumable items to Laos, most Ulju companies are positive about creating not only partnerships but also potential co-investment in Laos. These days, trade and investment occur simultaneously or sequentially,” he added.
 “kok kok Mega Mart is likely to work as a hub to link both countries in the consumable product sector,” Mr Kim said.

By Advertorial Desk
 (Latest Update June 26, 2023)