GWANGJU < invest Korea

(GWANGJU=NEWSIS) Gwangju announced December 3 that the Latin America delegation, which comprises nine regional small- and medium-sized companies, has reached an investment memorandum of understanding (MOU) worth USD 12.5 million and export consulting worth USD 25.36 million from November 21 to December 2.

The delegation found the niche market in Venezuela and not only the buyers but also relevant staff at government investment promotion institutions visited the fair and showed great interest in the products of Gwangju.

Humanlitech, which manufactures LED landscape lights, reached an export MOU worth USD 5 million to enter the Brazilian market that is transforming to using LED lights.

SM Bure, which manufactures ultrafine spray sterilizer, reached an export MOU worth USD 1.7 million.

Myungshin Medical, which produces far infrared radiation heaters, reached export MOUs with two companies worth USD 3.7 million. The Latin American market that has high interest in beauty and health recognized the excellence of the company.

One Solution, which produces diagnostic X-ray imaging instruments, reached an export MOU worth USD 700,000 by recognizing the high price competitiveness compared to the products of the United States and Europe.

"We expected that entering the Latin American market would be difficult considering the location of the continent and high freight charges. Nonetheless, we have achieved more export MOUs than we had expected due to the high preference of our products," according to the Latin America delegation.

praxis@newsis.com