Over the course of this two-part mission qualified Top of New England aerospace & defense companies will be introduced to acquisition officials from South Korea, potential industrial partners in South Korea and US government officials who can offer assistance in the sales process. Delegates will first meet publicly with these officials who will explain their plans, priorities and procurement process to the full group.

Why Aerospace & Defense in South Korea?

According to trade figures announced by the Korea International Trade Association, Korea was the 15th largest market for U.S. aerospace exports in 2019. In 2019, total U.S. aerospace exports to Korea exceeded 2.5 billion USD (including aerospace products in the defense sector).

Over 98 percent of the total aerospace imports into Korea are commercial & defense aircraft and their parts and components. Of this, 69 percent of Korea’s aircraft, parts and component imports were from the U.S. in 2019.

FMS (Foreign Military Sales) in the defense industry account for 69 percent of DAPA procurement from 2014 to 2018 due to major U.S. strategic asset purchases such as F-35, Global Hawk, etc. Recently the ROK government has shown a preference for DCS (Direct Commercial Sales) over FMS on some programs in an effort to reduce purchase prices, and work with a faster and simpler process.

  

Step-by-step Session Format

1) Upon registration, companies must complete a short form to provide information necessary to ensure company suitability for the mission and appropriate arrangement of one-on-one meetings. Further information may be requested prior to the mission.

2) You will be provided briefing materials to assure a common foundation and up-to-date summary of the program.

3) In advance of the live interactive online event each company’s profile including product information, web links and video messaging (if provided) will be circulated to the panel of foreign presenters/participants.

4) Group Session(s): Presentations by vetted buying authorities who have expressed interest in the products and services provided by the delegation. Each presentation culminates in Q&A opportunities for the delegates.

5) 1-on-1 Meetings: With the information provided by each delegate, we request that our presenter(s) recommend a specific individual/office with relevant interest and management responsibility to meet with the delegates one-on-one. Depending on availability, the meetings will take place the latter-part of Day 2 and/or Day 3. If required, the meetings may be scheduled for a later, mutually-agreed, time and date.

 

Participation Benefits

·    Access into the combined global connections of the U.S. Department of Commerce and Kallman Worldwide

·    Gather firsthand action-oriented market intelligence, and stay a step ahead of your competitors

·    Learn how and where to focus your export sales and marketing efforts

·    Be introduced to sources of ongoing advice /assistance / representation in the markets with the most potential for you

·    Receive pre-event briefing materials to lay a solid foundation and let you “hit the ground running” on game day

·    Promote your innovations and products by submitting a company description that will be shared with the content provider(s) in advance of the event

·    Experience greater personalized attention since there will be only 10-12 other companies per event, fostering an intimate experience and increased dialogue

·    Build on the discussions initiated during our introductory session with one-on-one conversations with interested buying authorities

 

COST

$3,000 per company & Digital Trade Mission

Qualified Small Businesses are eligible for STEP reimbursement

Price includes Spanish/English translation of the Day 1 presentations and the Q&A's. Additional translation services (1 on 1 meetings, sales material translation and website translation) are offered on a fee basis.

Contact Mike Petrassi to discuss your needs and receive a quote. These services may be reimbursable through your state's STEP program.

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