JD.com, KITA to promote Korean brands in China
[THE INVESTOR] China’s No. 2 e-commerce firm JD.com and the Korea International Trade Association jointly offered business consultations on Sept. 12 in Seoul to Korean companies aspiring to enter the Chinese online market.
The event was attended by around 200 business people despite an ongoing political dispute over Korea’s deployment of a US missile defense system here that has led many Korean companies to suspend or completely shut down their businesses in China.
The two sides also signed a memorandum of understanding to cooperate in promoting Korean brands on JD.com’s platform. JD.com is listed on the NASDAQ and is one of the two largest B2C online retailers in China by transaction volume and revenue. It’s listed in the Fortune Global 500.
“With this business agreement, we hope to see an increase in economic exchanges between the two countries, which have been shrinking recently, and to provide an alternative channel for introducing quality Korean brands to Chinese customers,” Kim Jung-kwan, vice chairman of KITA said.
At the event, JD.com cited seven brands including Nongshim, Orion and AHC as top Korean brands.
By Park Ga-young (firstname.lastname@example.org)