The Daejeon Creative Economy Innovation Center (CEO Park Dae-hee, hereinafter referred to as the Daejeon Innovation Center) and the United Nations Industrial Development Organization Korea Investment Promotion Office (CEO Shin Maeng-ho) held the 'Distribution Company Buyer Consultation Meeting (SIW in Mongolia – Buyer Matching Event)' in Ulaanbaatar, Mongolia on the 4th.
This consultation meeting was held as part of the 'Mongolian Market Development Program' to connect 10 domestic food and biotech startups with Mongolian distributors and explore market entry opportunities.
Daejeon Innovation Center, in collaboration with the Science Park Administration (SPA) under the Mongolian Ministry of Education and Science and investment firms Socratus Startup Studio and INNOhub, invited distributor buyers to discuss the product competitiveness and localization potential of domestic startups.
On this day, Mongolian distributors such as MONOS Group (cosmetic, drugstore, foods), Monchemo LLC, ORGIL Mart, CU, Asar Urguu LLC, and Happy city construction LLC participated and showed great interest in domestic startup products.
The participating startups are ▲C&R Cosmetics Co., Ltd. (CEO Seung-chan Ok), ▲Content Group Abeque Co., Ltd. (CEO Su-hee Kang), ▲Freshjoy Co., Ltd. (CEO Dae-kyung Jeon), ▲Tipping Co., Ltd. (CEO Min-goo Yoo), ▲MS Cosmetics Co., Ltd. (CEO Chi-young Yoon), ▲Novalacto Co., Ltd. (CEO Yong-jin Hwang), ▲Golden Crow Co., Ltd. (CEO Eui-soon Jang), ▲Globegate (CEO NATSAGDORJ ENKHTUNGALAG), ▲Lee Yoon Bio Co., Ltd. (CEO Jin-hee Lee), ▲Squizine (CEO Da-som Jeong), for a total of 10 companies.
They introduced products such as K-food, K-beauty, and health functional foods to Mongolian distributor buyers and discussed market entry strategies. They also conducted IR for entry into distribution channels such as pharmacies, beauty shops, marts, and convenience stores, thereby increasing the possibility of actual business cooperation.
Daejeon Innovation Center has been running a 'Mongolian Market Development Program' for 5 nights and 6 days since the 3rd, including a distributor buyer consultation, a Korea-Mongolia exchange meeting, and a pop-up store. In particular, the pop-up store will exhibit and sell products from domestic startups in conjunction with the 'Korea Week, 35th Anniversary of Korea-Mongolia Diplomatic Relations' hosted by the Embassy of the Republic of Korea in Mongolia.
Daejeon Innovation Center CEO Park Dae-hee said, “This distributor buyer consultation meeting has become a practical bridgehead for Korean startups to directly connect with local distribution networks,” and added, “As the market potential has been proven with Mongolia’s imports of Korean cosmetics, food, and health functional foods growing by an average of more than 20% over the past three years, we plan to expand various support for startups to advance into the global market.”
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