In-Market Insights - Republic of Korea June 2020

In-Market Insights is a series of videos presented by Global Victoria's team members from across its international network of 22 Victorian Government Trade and Investment offices (VGTIs). The series sheds light on the current state of play in key global markets and sectors.

Episode three features Global Victoria’s Executive Business Advisor, Haesook Chung. Based in our VGTI office in Seoul, South Korea, Haesook shares her expert knowledge about emerging opportunities in the region for Victorian businesses.

VIDEO: Global Victoria's In-market Insights - KOREA June 2020

In-Market Insgights - JAPAN June 2020

Episode four features Global Victoria’s Trade Development Manager, Grahame King from our Tokyo VGTI office in Japan. Grahame shares his expert knowledge on the emerging opportunities in Japan for Victorian businesses.

VIDEO: Global Victoria's In-market Insights - JAPAN June 2020

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Autumn 2020 Update

Horticulture Delegation from Korea

In early February, Global Victoria supported a delegation of South Korean horticulture buyers, food service and wholesale companies to visit Victoria and meet with growers in the Sunraysia and Loddon Mallee regions to potentially source table grapes and citrus produce. The delegation included representatives from Korea’s largest hypermart chain and one of the largest food service companies in Korea.

The delegation was an initiative to build on the growing trade between Victoria and Korea, particularly in the food sector. Victoria’s food and fibre exports to Korea registered 31 per cent growth on the previous year to a value of $479 million in 2018-19.

Victoria was the largest food and fibre exporter from Australia with 27 per cent of the value of exports from just 3 per cent of Australia’s land mass. Total food and fibre exports from Victoria were $7,257 million

South Korea is the fourth largest economy in Asia with a population of over 50 million. Increasing demand for high quality goods and services, together with a reduction in trade barriers, has provided key export opportunities for Victorian businesses. Export opportunities for Victorian agribusinesses continue to emerge for high-quality beef, dairy, horticulture and healthy functional foods.

Global Victoria's all-women's inbound summit, GVw 2020

Global Victoria was privileged to host a business roundtable on 27 February featuring a panel of Victorian women in the life sciences and medical technology sector who are undertaking business in Japan and/or South Korea.

This event was part of a wider, inaugural program called GVw 2020 that focussed on celebrating women in international business and supporting Victorian business leaders to develop global relationships with their international counterparts.

Guest speakers at the roundtable included prominent and highly successful business women:

  • Dr Jackie Fairley, CEO, Starpharma Holdings Limited
  • Angela Luttick, Executive Vice President Business Development, 360biolabs
  • Dr Anne- Laure Puaux, Head Biotechnology and Commercialisation, The Walter and Eliza Hall Institute of Medical Research (WEHI).

Each speaker shared their experiences and valuable insights about developing business in Japan and Korea.  Some of the key messages and advice shared included:

  • the benefit of government led trade missions to ease barriers for access to Japanese and Korean government and research facilities
  • the requirement for translators and interpreters for both the business/social aspects but also for specialist technical translations
  • the need for patience in business negotiations.

Our thanks to all the delegates that participated and to our guest speakers for the generosity of their time and insights.

As the COVID-19 outbreak continues to spread around the world, it highlights that commitment to continued collaboration in transnational research is paramount.

There are increasing opportunities for Victorian engagement with Japan and Korea in areas of digital health, early stage clinical trials and participation in open innovation programs for new drug discovery.

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