Busan hosts trade fair, secures $55.3 million in export deals

Busan city and the Busan Economic Promotion Agency held the "2026 Overseas Buyer Invitation Trade Consultation" at Lotte Hotel Busan on Tuesday morning. The event, now in its 13th year, has been run annually since 2014 to help local companies expand into overseas markets.

The city announced Friday that it organized the event to give local businesses export consultation opportunities spanning both established and emerging markets, and to support market diversification and the development of new trading partners.

A total of 49 buyers from 10 countries took part, representing nations where Busan operates overseas trade offices — including the United States, China, Japan and Vietnam — as well as ASEAN member states, India and the United Arab Emirates. The buyers held 387 one-on-one business consultations with 124 local companies, covering industrial goods such as shipbuilding components, electrical and electronic products, and steel and machinery, as well as consumer goods including beauty products, food and beverages, and lifestyle items.

To ease the financial burden on participating companies, the city provided free interpretation and other consultation support, while export specialists from the Busan Export One-Stop Support Center offered on-site consulting at no charge. Also notable this year was the first-ever invitation of buyers from India — which has drawn attention for its high economic growth rate and vast domestic market — and from the UAE, a gateway to the Middle East, raising prospects for new market entry.

The event produced approximately $55.3 million in prospective export contracts and six MOUs — one with the United Kingdom, two with India, two with China and one with Indonesia. The Busan Export Companies Association signed an MOU with H Mart, a UK-based Asian food retail company, to expand into the European market, while Company D, a water treatment plant specialist, concluded an export contract agreement worth $14 million with Indonesia's Company M.

Busan also held an operational review meeting for its overseas trade offices that day, sharing performance results from each location. Going forward, the city plans to expand its overseas marketing activities through its trade offices in Los Angeles, Shanghai, Qingdao, Osaka and Ho Chi Minh City. Planned initiatives include export video consulting sessions connecting local companies with on-the-ground specialists in areas such as certification, customs clearance and local retail distribution, pop-up stores for consumer goods companies, support for entry into online retail platforms, and promotional campaigns for products in emerging growth industries.

"This overseas buyer trade consultation was a meaningful occasion for local companies to meet prominent foreign buyers directly, generate export results and explore new market opportunities," said Kim Bong-cheol, the city's director of digital economy. "We will support Busan companies' overseas expansion and export growth by strengthening our global network centered on the overseas trade offices."