Korea Display Industry Association (KDIA) will help South Korean equipment and component companies enter the Chinese market.
KDIA will form an export consortium to take part in C-Touch & Display tradeshow taking place between November 19 to 21 at Shenzhen, China. The consortium will be part of the Korean exhibition in the event.
This is the second time KDIA is forming such a consortium. Due to the COVID-19 pandemic, the companies this time will show their goods online at the show.
KDIA is the organizer for South Korean companies designated by the Ministry of SMEs and Startups for the Shenzhen tradeshow.
Companies who take part can have one on one meetings with potential buyers. When the event actually take place, Korean companies will be able to talk one on one with their potential foreign buyers through remote conference calls.
There will be forums at the show that will also benefit the companies, KDIA said.
There will be a Korea Day in which online seminars will allow companies to find potential buyers and take part in matchmaking. In December, KDIA will provide support for followup meetings, supply of samples as well as advice on operating business in China.
Government will provide 74 million won in funding while 10 companies will need to come up with 33 million. The number of companies to take part are subject to change and the deadline to apply is September 22. Last year, six companies took part including display equipment maker Vessel.
KDIA’s move seem in reaction to the Chinese display industry expanding investments in recent years. More South Korean display equipment makers are relying on Chinese companies to buy their goods.
China’s TCL last month acquired Samsung Display’s Suzhou LCD factory. Visionox recently announced that it plans to add two lines at its OLED module factory at Guangzhou. The company said it will use 80% of the equipment by local manufacturers.