Posco Daewoo, a trading firm dealing with a range of products including steel, automotive components and machinery, has signed a memorandum of understanding with Incheon Metropolitan City and the city’s commerce body to expand distribution platforms for small and mid-sized exporters, the firm said Sunday.

By opening the second showroom for Korean products in Chengdu, China, Posco Daewoo will present, promote and support exports of products manufactured by SMEs based in Incheon, the company said. 

Incheon City will be subsidizing the budget and seeking out companies with potential, while Incheon Chamber of Commerce and Industry will be in charge of collecting and managing applicants.

Posco Daewoo has been operating the first showroom in China located in Yiwu city since June last year in collaboration with Incheon City.

Currently there are some 60 SMEs featured in the showroom.

The company aims to open additional showrooms in other regions of China as well as in Southeast Asia to help SMEs advance overseas, while also seeking ways to cooperate in global exhibitions.

“We are seeing tangible results of mutual growth with companies from Incheon through the Korean showroom model. We will continue to seek for more ways to cooperate with promising companies,” said Posco Daewoo President and CEO Kim Young-sang. 

By Kim Bo-gyung (lisakim425@heraldcorp.com)