Lotte to host ‘Lotte·Korea Brand Expo’ in Mexico

[Courtesy of Lotte]

Lotte Group’s support program for South Korean small and medium-sized enterprises (SMEs) looking to expand overseas, with the ‘Lotte-Korea Brand Expo’ set to take place in Mexico. The program has facilitated over 10,000 export consultations for participating SMEs to date, with the total paper value discussed expected to top 1 trillion won ($730 million).

Lotte announced on Thursday that the ‘2024 Lotte-Korea Brand Expo’ will be held in Mexico City from June 13th to June 16th, 2024. In collaboration with KOTRA and the Korea Foundation for Cooperation, Lotte will assist Korean SMEs with export consultations and product exhibitions during the event.

Since its inception in Thailand in 2018, the Lotte-Korea Brand Expo has become a vital stepping stone for SMEs aiming to enter the global market. Over 1,300 companies had participated as of 2023, conducting about 9,000 export consultations with a cumulative unrealized transaction value of 960 billion won. Lotte’s logistics and food subsidiaries also take part in the expo, where they focus on discovering and importing local products and raw materials.

The event will be held in a Latin American country in 2024. Mexico was the first Latin American nation to establish a strategic partnership with Korea in 2005, and boasts a strong affinity for Korean brands. According to the Korea International Trade Association, Mexico has the second-largest Hallyu fan club membership in the world, with around 27 million members. Mexico’s population of 120 million ranks 10th globally, with more than half of the population between the ages of 15 and 49, a demographic known for its high purchasing power.

The expo will feature 100 SMEs from sectors such as beauty, fashion, food, and household goods. Forty-seven of these companies, offering products like face masks, cleansers, tteokbokki, and seaweed snacks, will hold one-on-one export consultations with local distributors. Mexican online retailer Mervado Libre will also be present at the consultations.

The event includes opportunities for general customers to experience and interact with the products firsthand. The promotional fair on June 15th and 16th will feature promotional booths, cultural shows demonstrating how to use the products, cooking classes, beauty consulting, and a Korean food experience zone.