Korean SMEs on course to bag export deals in Abu Dhabi

[Provided by Korea Federation of SMEs]

South Korea’s small- and medium-sized firms are expected to bag a slew of export deals after attending the world’s largest exhibition for the energy industry in Abu Dhabi, in which a Korean firms-dedicated special booth was set up by the Korea Federation of Small and Medium Business (KBA).

According to the KBA on Sunday, it operated a special booth, dubbed South Korea Pavilion, at the ADIPEC 2022, the world’s largest exhibition for the energy industry, held in Abu Dhabi, the capital of the United Arab Emirates (UAE), from Oct. 31 to Nov. 3. In partnership with the Korea Measuring Instruments Research Association (KMIRA), the KBA organized the event to help Korean SMEs make inroads into overseas markets, and around 30 Korean SMEs participated this year, up from 23 last year.

The participating Korean firms were mainly machinery, components, and engineering companies in the areas of oil and gas drilling to refining, processing, and transportation. They showcased their innovative technologies and products at the Korean booth and explored various deal opportunities with leading global companies including Abu Dhabi National Oil Company (ADNOC).

Flange manufacturer Samyang Metal Industry met with the UAE’s state-run National Petroleum Construction Company (NPCC) to negotiate a deal worth $780,000. Pump manufacturer CW-Hydro is in talks for a deal worth $700,000 to participate in the ADNOC’s project. Safety and relief valve manufacturer Prosave is also in talks with an Italian EPC company over a deal worth $300,000. Soo, fire suppression product manufacturer, also signed a $20,000 export deal to UAE.

By Ko Jae-man and Jenny Lee