GTEP project team signs MOU on export support with 71 small and medium businesses
Participate in overseas exhibits to work on the front lines of small and medium businesses such as consulting and interpretation
High rating in last year's annual evaluations, 20 million won additional project budget
[April 26, 2017]
<YU GTEP project team students providing consultations with buyers at the '2017 Dubai Gulfood Exhibition'>
With YU students successfully landing export contracts for small and medium businesses one after the other, they are playing a key role for companies to plunge into overseas markets. Just last year, they recorded a total of two million USD in export contracts.
The team was comprised of 30 students who are active as part of the 10th YU Global Trade Experts Incubating Program (hereinafter 'GTEP'). They signed export support MOUs with 71 small and medium companies and were dispatched to domestic and foreign exhibits to promote products and provide consulting for buyers. Last year alone, they were dispatched to 64 foreign exhibits in a total of 14 countries including the 'Dubai AgraME' and 'Dubai Gulfood Exhibition'.
Yoon Seok-hee (24, YU Department of International Trade, senior, 10th GTEP project team) who participated in the 'Dubai Auto Mechanica' together with Kyungdong Industries, which is a company specializing in automobile parts, said, "This was a great opportunity to learn about practical knowledge related to overseas sales by collaborating with professionals at overseas exhibits." He added, "It was a fulfilling experience as I was able to enhance my capacities as a trade expert and contribute in leading to actual contracts being signed."
Thanks to such achievements, the YU GTEP project team recently received high scores among the 24 GTEP project teams in the annual evaluations by the Korea International Trade Association, and thus procured an additional 20 million won in project budgets. This year, 33 students were selected as the 11th agents and are traveling around the world to help companies tap into foreign markets. As of current, a total of 43 students were dispatched to a total of 25 overseas exhibits such as the Dubai Food Expo, Tokyo Food Expo in Japan, and Festival Evolution Exhibit in the Czech Republic.
Professor of International Trade Sohn Sang-beom, who is in charge of the YU GTEP project team said, "Companies are showing high degrees of satisfaction as the students in the project team are working hard in the front lines of exports such as participating in exhibits, and since their efforts are leading to actual contracts." He added, "The students have been displaying abilities similar to that of corporate professionals by analyzing overseas markets and providing consulting for buyers. In particular, by engaging in actual work at overseas exhibits, they are improving their employment competitiveness by gaining experience and expertise and trade experts."
Meanwhile, YU has continuously pursued projects to foster young trade experts since 2001 with the support of the government. Starting with the TI (Trade Incubator) project overseen by the Ministry of Trade, Industry and Energy in September of 2001, YU has been carrying out young trade expert fostering projects for the past 17 years. YU has currently trained a total of more than 500 trade experts who are acting as the spearhead for exports by small and medium companies. In particular, YU is the only university selected for specialization in the Middle East among the 24 universities selected for the project nationwide. The YU GTEP project team is expected to play a huge role for local small and medium businesses to enter the global market by fostering trade experts who are equipped with language skills and knowledge in trading.
<YU GTEP project team students helped companies carry out export operations by participating in the '2017 Dubai Gulfood Exhibit'.>