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Busan to Dispatch 2025 ASEAN Trade Mission… Targeting Consumer Goods Markets in the Global South

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The Busan Metropolitan City (Mayor Park Heong-joon) and the Busan Economic Promotion Agency (President Song Bok-chul) announced that the “2025 ASEAN Trade Mission” will be dispatched to Kuala Lumpur, Malaysia and Jakarta, Indonesia for six days from July 28 to August 2.

○ This trade mission was developed based on the results of a field survey conducted by the City in April regarding corporate responses to U.S. tariff policies.

○ According to the survey, companies in the Busan area identified supply chain adjustment (ranked 1st) and new market development (ranked 3rd) as their top self-initiated response strategies. As a result, the City aims to support companies’ efforts by facilitating access to ASEAN markets—part of the Global South—to create synergy between corporate initiatives and public policy.

• ●Global South: A modern classification for countries previously referred to as the “Third World” or “developing nations.” The term contrasts with the “Global North,” which generally refers to developed nations located in the northern hemisphere.

<Overview of Field Survey on U.S. Tariff Policy Response> - (Survey Period) April 16–30, 2025 - (Sample Size) 93 exporting companies in Busan - (Survey Topics) Export challenges, policy needs, corporate response strategies

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The ASEAN Trade Mission is a strategic overseas marketing program designed to help small and medium-sized consumer goods companies in Busan expand exports and open new sales channels. This year’s focus is on Southeast Asia—particularly Malaysia and Indonesia—which are emerging as key markets in the Global South.

○ Malaysia, with a per capita GDP exceeding USD 13,000 (approx. KRW 18.2 million), serves as a testing ground for consumer goods covering Southeast Asia, South Asia, and the Middle East. The country offers an ideal environment for Korean consumer products thanks to the widespread popularity of Korean culture (Hallyu), a vibrant mobile payment ecosystem, and its role as a global halal certification hub.

○ Indonesia, with a population of 280 million, is one of the largest consumer markets in the Global South. It boasts growing demand for premium products among younger consumers and a rapidly developing e-commerce sector. The country also ranks first globally in preference for K-content, fueling steady demand for Korean food and cosmetics.

<2025 ASEAN Trade Mission Overview>

• ●(Period/Locations): July 28 (Mon) – August 2 (Sat), 2025 / Kuala Lumpur, Malaysia and Jakarta, Indonesia

• ●(Focus Products): Consumer goods

• ●(Activities): Local export consultation meetings, individual buyer consultations

• ●(Target Participants): 10 Busan-based SMEs dealing in consumer goods

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Eligible participants are 10 Busan-based small and medium-sized enterprises (SMEs) with export volumes under USD 30 million in the previous year. These companies will engage in buyer meetings and export consultations in both locations.

The City will invest a total of KRW 680 million to support 50% of round-trip airfare for one person per company, and fully cover all other consultation-related expenses including local transportation, venue setup, and interpretation services.

Companies wishing to participate must apply through the City’s Integrated Overseas Marketing System (trade.bepa.kr) by June 5.

Kim Bong-cheol, Director General of the City’s Digital Economy Bureau, stated,
“Malaysia and Indonesia present some of the highest growth potential for consumer markets within the Global South,” and added,
“We hope this trade mission will help Busan SMEs successfully enter these emerging markets and lay the groundwork for sustainable export channels.”

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Attachment: Program Overview

□ Background

• ●Provide regional SMEs with opportunities to enter ASEAN markets and establish local networks amid growing difficulties in overseas distribution channel expansion

• ●Support export revitalization and increase market share of promising local consumer goods through business consultations

□ Project Summary

• ●Project Name: 2025 ASEAN Trade Mission

• ●Period: July 28 (Mon) – August 2 (Sat), 2025 (6 days, 4 nights)

• ●Locations: Kuala Lumpur (Malaysia), Jakarta (Indonesia)

• ●Focus Products: Consumer goods

• ●Activities: Export consultation meetings, on-site buyer visits

• ●Method: Operated in collaboration with specialized local agencies with buyer networks and infrastructure

• ●Budget: KRW 680 million

□ Support Details

• ●Eligibility: Busan-based SMEs with exports under USD 30 million in the previous year

• ●Number of Companies Supported: 10

• ●Support Items:

• ○Airfare: 50% of round-trip airfare for one person per company

• ○Local transportation for official activities

• ○Full support for export consultation logistics (venue setup, interpretation, transport, etc.)