us$50m export contract performance on last day of world korean business conference

The Overseas Korean Administration said an additional $50 million export contract was signed on the last day of the 22nd World Korean Business Conference (24th).

The $50 million contract is the largest amount in the history of the Korean business competition in a single case, and the main characters of the contract are Punglim Pharmatech and Whale Enterprise.

Punglim Pharmatech is a company that manufactures and supplies medical devices and related products such as syringes and needles, and Weil Enterprises is a company based in Georgia, USA, and is a supplier of personal protective equipment for medical use.

Kim Kwan-young, governor of North Jeolla Province, Yoon Yeo-bong, president of the Korea Economic and Trade Promotion Agency, Cho Hee-min, chairman of Punglim Pharmatech, Lee Kyung-chul, chairman of Weil Enterprises, and key executives of the Korean Chamber of Commerce in the U.S., who participated in the signing ceremony, decided to discuss continuous exchanges and cooperation, leaving open the possibility of additional contracts in the future.

Chairman Lee Kyung-chul, the main character of the contract and president of the Federation of Korean Industries and Commerce in the U.S., said the Federation of American Industries is preparing to hold a Korean business competition in the U.S. next year.

Lee Sang-deok, head of the Overseas Koreans Agency, said he will try to track and manage a number of consultations through this competition and lead to contracts, and said he will further expand the Korean business network through regional competitions, online platforms, and overseas Koreans' business advisory groups.