To operate PR Pavilion at Future Forces International Exhibition on October 16-18
Support to discover partners in central European defense market through B2B, B2G business meetings

The Ministry of Trade, Industry and Energy (Minister Ahn Duk-geun) and KOTRA (President Yu Jeoung-yeol) will operate a PR pavilion at the Future Forces International Exhibition held in Prague, Czech Republic on October 16-18 to expand exports of Korea's defense industry in the central and eastern European market. Companies wishing to participate should apply on KOTRA's website (www.kotra.or.kr ) by July 24.

This exhibition is one of the leading defense exhibitions in Central Europe, which will have 10 PR centers and 200 booths of Czech and global defense companies in three halls of the Prague Letnany Exhibition Centre (PVA). The Korea PR Pavilion is located in the center of the exhibition hall that borders the NATO Pavilion and British Pavilion. Companies can participate either directly, through booth marketing and B2B consultations, or indirectly through exhibition of product models or catalogue if not able to make business trips.

Meanwhile, the Czech Republic has been scaling up its defense industry by doubling its defense budget this year from 2020 in accordance with its defense modernization plan. The Czech Republic, where the defense industry developed early on due to geopolitical factors, has about 140 member companies registered with the Association of Defense and Security Industry (AOBP), and about 5,000 companies with defense trade licenses are active. As Czech defense companies are expanding production facilities; expanding outsourcing of materials, parts, and equipment; and conducting joint development and investment with foreign companies, they are expected to give a partnering opportunities for Korean materials, parts, and equipment companies in the defense sector.

Lim Sung-ju, head of KOTRA's Prague Trade Center, said that "Considering the rapidly rising local demand in the defense sector, the potential for cooperation with Czech companies, and the rising awareness of K-defense industry, it deems the right time to enter the Central European defense market through partnerships with Czech companies," adding that "we will provide participating companies with various benefits and opportunities through pre- and post- marketing, as well as on-site support."

Source: Invest KOREA (2024.07.17.)