KUALA LUMPUR (Oct 9): The Malaysia External Trade Development Corporation (MATRADE) has urged Malaysian furniture companies to explore business opportunities in South Korea.
Its trade commissioner in Seoul, Norharliza Yunos, said many Korean buyers were fascinated with Malaysian furniture products due to their high quality, modern design as well as unique craftsmanship.
“Malaysia is well known for its wooden and rubberwood furniture and these are considered our competitive advantage,” she said in a statement today.
MATRADE spearheaded the participation of 10 Malaysian companies in the Korea International Furniture and Woodworking Fair (KOFURN) in Seoul from Aug 27 to Sept 2.
The Malaysian companies were matched by MATRADE with 24 Korean buyers through 72 business meetings at the Malaysia Pavilion.
“A lot of potential buyers were impressed with our products and Malaysian companies should capitalise on this positive perception among the Korean buyers,” Norharliza said.
South Korea is ranked 15th as Malaysia's furniture export destination, with an export value of RM102.4 million last year.
For the first half of 2019, Malaysia’s furniture exports to South Korea totalled RM47.8 million, with a significant growth of 28 percent being registered for wooden kitchen furniture in the same period.
Norharliza said the growth of Malaysian furniture export was in line with Malaysia’s National Timber Policy (NATIP) target of achieving RM12 billion worth of furniture exports by the year 2020.
According to her, the MATRADE office in South Korea has insights and connection to facilitate the matching of Malaysian furniture manufacturers with buyers in that country.