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India-Korea signed an MOU with Jeonbuk Business Centre's Help to further Trade Relations

IBEF:  June 22, 2021

Jeonbuk Business Centre (JBC), a business-to-business platform, helped Navis Aroma (a Korean trader), to sign an MOU of US$ 600,000 with an Indian trader earlier this month.

The partnership between the two traders took place via Global Partner Business Meet, a virtual event, in which ~ 6 Korean Producers and 16 buyers from India participated.

The worldwide event observed a massive interest from the traders of both countries. The display items included Cosmetics, Electronic components (Opto Sensor Battery), Oil filter, Dust filter, Aroma bedding, etc. The online meet followed a wonderful business prospect and facilitated the deal closing for aroma bedding worth US$ 600,000.

JBC also leveraged this collaboration to attract more interest among other Indo-Korean traders. GOES, a Korean children clothes producer is in the initial phase of discussion with a buyer in India to expand its footprint in the country. JBC is further assisting GOES to Import organic thread from India. Other traders such as AUE, Poochang and Hisol are also in the development of expanding trade affairs with India.

Seo Youngdoo, Spokesperson of Jeonbuk Business Centre (JBC), said, "We are thrilled about the Aroma bedding deal Navis Aroma has closed with the Indian buyer for US$ 600,000. This is a great prospect considering the market of both countries and also unlocks various entries for future partnerships. With this business meeting, we intend to bolster the relationship between Korea and India and offer better business prospects to both the countries."

JBC is a non-profit trade promoting organization and functions as a facilitator for India and Korea supporting and boosting trade relations between the two countries. The company aims to establish a growth conducive ecosystem for the shared growth and success of both the countries.

JBC with its vision to expand, would continue to run such global events to facilitate these countries uncover better business prospects via work projects, businesses, and assignments.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.