A delegation of Chinese business leaders attends the 2024 Busan Overseas Buyer Trade Conference, hosted on Tuesday by Busan Economic Promotion Agency. Korea Times photo by Luna Sun By Luna Sun A delegation of Chinese business leaders arrived in Busan earlier this week to explore new procurement opportunities with local suppliers, amid fluctuating Sino-Korean trade relations. Their visit followed the meeting between the leaders of the two countries, underscoring the strategic efforts to navigate the challenges posed by current geopolitical tensions and the ever changing trade landscapes.
Although Korean products are losing some competitiveness to increasingly cost-effective and high-quality Chinese goods, their distinctive qualities still appeal to Chinese customers, said the companies, who also urged greater government support to enhance trade opportunities. The 2024 Busan Overseas Buyer Trade Conference was hosted on Tuesday by Busan Economic Promotion Agency, a government funded non-profit foundation to provide services needed by micro enterprise and small and medium-sized enterprises (SMEs) in Busan. A total of 37 companies from seven countries, a third from China, had one-on-one business consultations with 128 small and medium sized local businesses in Busan.
Japanese buyers accounted for another third of the visitors, while other companies were from the United States and Vietnam among others. Bai Kefu, from one of the 12 companies of the Chinese delegation, runs a hotel .