Star Products
First, KOTRA selected five star products such as LED lighting, LED/LCD TV, fiber optic cables, smart phones and set-top boxes. These star products were chosen in consideration of market prospects, and the star products have two definite advantages in quality and price competitiveness. LED lighting is drawing attention as the next generation light by international green growth policy and spread of consumer awareness for saving power. In terms of LED/ LCD TV, because of customers demand for high definition TV and switching from analog TV to digital TV will increase. KOTRA added that fiber-optic cables is also selected as promising products because of demand for expansion of optical communications network and improvement of power network.
Flagship Products
Second, KOTRA chose auto parts, notebooks, valves and tires as flagship products. Even though the growth of the market was slow these flagship products were still drawing attention. Auto parts were selected, because Korean automobiles have advanced by leaps and bounds. And automakers around the world have been trying to increase outsourcing rate as a way of cost reduction. Under the substantial consumption condition, notebooks were selected because of its potable feature and price competitiveness, valves were caused by recovery of manufacturing industry and tires were caused by raising brand awareness.
Future Products
Third, KOTRA selected five future products such as parts for solar panels and wind power, medical equipment, navigation systems and power transformers. KOTRA explained that as many countries that have renewable energy obligation in public sector have increased, needs for solar panels and wind power generators are high. Although European, Japanese and U.S. companies capture most of the market share. Korean products are expected to increase the market share by having high quality products. KOTRA stated, "Because the demand for power transformers is very high particularly in The Mideast Africa and USA, we can expect that export of power transformers will increase rapidly."
Niche Products
Fourth, KOTRA chose air cleaners, cosmetics, heating-exchanges, security devices, digital door locks, and energy efficient cooking as promising export items. Air cleaners are drawing attention with spread of influenza A virus or sub typed H1N1 in many countries, particularly in China, Japan and Southeast Asia. Korean cosmetics are also spent more because of women's desire to beauty in recession. Central and South America have a poor public security and need to buy security devices and digital door locks. Cho Hwan-eik, President of KOTRA said, "Unlike last year that big enterprise led the export, this 2010 will be a year that is for small and medium enterprises." He continued to say, "KOTRA will make an effort for small and medium enterprises to find and develop optimum market."
