Gangneung-si export company hosts $1 million export contract ceremony for Mongolia

**Gangneung-si, Gangwon Province strengthens export competitiveness by developing the Mongolian market**

While Gangneung-si, Gangwon Special Self-Governing Province (Mayor Kim Hong-gyu) is implementing various support measures to enhance the export competitiveness of local companies, it has recently successfully pioneered the Mongolian market and opened up new export routes for products produced in Gangneung City. As a result, Gangneung City is revitalizing the local economy and further strengthening its position on the international stage.

### Gangneung City's Continued Export Support Efforts

Gangneung City has been preparing various support measures to strengthen the export competitiveness of local companies. In particular, efforts have been made in various fields so that various products produced in the agriculture and fishery industry, manufacturing, and tourism industries, which are major industries in Gangneung, can gain competitiveness in the international market. As part of these efforts, the city has provided support for participation in overseas fairs, holding export conferences, local market research, and customized consulting, and has laid the foundation for companies in the Gangneung region to successfully enter overseas markets.

Gangneung Mayor Kim Hong-gyu said, “Gangneung City is generously supporting local companies to secure global competitiveness,” and “this development of the Mongolian market is the result of efforts that have paid off, and we will continue to develop more overseas markets in the future.”

### The potential of the Mongolian market and Gangneung City's strategy

Mongolia is one of the countries where demand for imports is increasing in various industries due to rapid economic growth in recent years. Growth is particularly prominent in the construction, agriculture, and energy sectors, and demand for related products and services is also increasing rapidly as a result. Gangneung City identified the Mongolian market potential early on and established an entry strategy through local market research.

Gangneung City's entry into the Mongolian market is based on a localized marketing strategy that goes beyond simply exporting products. The city thoroughly analyzes consumer preferences and market trends in Mongolia to support products produced in Gangneung to have a competitive edge locally. For example, Gangneung's agricultural and fishery products appeal to local consumers by applying processing and packaging methods tailored to Mongolia's climate and food culture, and manufacturing products are proposing customized solutions tailored to the characteristics of the Mongolian industry.

### A successful first step and future plans

Gangneung City recently participated in an international fair held in Mongolia and showcased various products produced by local companies. Gangneung products were well received by local buyers and consumers at this fair, and several export contracts were signed. In particular, agricultural and fishery products and eco-friendly products produced in Gangneung received high attention in the Mongolian market, and it is expected that this will be a springboard for Gangneung City to achieve greater results in the Mongolian market in the future.

Based on the success of developing the Mongolian market, Gangneung City plans to continue to pursue export expansion strategies for Asia and other emerging markets in the future. To this end, Gangneung City plans to develop customized support programs for each market through continuous research and analysis of local markets, and the plan is to make Gangneung regional companies more competitive in the global market through this.

In addition, Gangneung City is strengthening export strategies targeting various emerging markets in Southeast Asia, the Middle East, and Africa in addition to Mongolia. The city plans to carefully analyze the characteristics and demand of each market, develop products suitable for the region, and diversify Gangneung City's export market through this. This strategy is expected to contribute greatly to boosting Gangneung City's international status as well as revitalizing the local economy.

### Positive impact on local economies

The development of the Mongolian market is likely to have a very positive impact on the Gangneung region's economy. The expansion of exports leads to an increase in sales of companies in the region, which is directly linked to the creation of employment and the revitalization of the local economy. Furthermore, various overseas market development activities promoted by Gangneung City will enhance the brand value of the Gangneung region and further contribute to the growth of Gangneung as one of the pillars of the global economy.

Mayor Kim Hong-gyu said, “Gangneung City's export expansion will go beyond a simple economic achievement and will be an important opportunity to promote Gangneung internationally,” and “we will continue to support Gangneung City so that it can become competitive on the global stage.”

### Conclusions

Gangneung-si, Gangwon Special Self-Governing Province, has achieved great results in strengthening the export competitiveness of local companies and boosting the local economy through developing the Mongolian market. Going forward, Gangneung City plans to further expand its position in the global market through customized support for various overseas markets. These efforts will play an important role in Gangneung City's growth as an international economic hub, and are expected to bring various benefits to local residents.

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