Chungcheongnam-do

Chungnam Province opened its trade office in Sao Paulo, Brazil as Korea's first local government.

Being Brazil's No. 1 city in terms of economy, Sao Paulo is a mega city with a population of 40 million. There are about 60 companies doing business in the city that have some relations with Chungnam.

Attending the opening ceremony held at the KOTRA trade center in Sao Paulo on March 30, 2010 at Korean time were Lee Jae-gwan, head of Investment and Trade of Chungnam, Kim Sun-tae, consul general in Sao Paulo, and about 100 Koreans living in the country.

Chungnam will take advantage of its trade office in Sao Paulo, expanding its exchanges with the city and the country and focusing its supports on promising export items including construction materials and wires, which are needed in the inland development of Brazil, medical containers, batteries, glass lenses, and steamed red ginseng. Its goal is to export about 1 million dollars in 2010 and over 2 million dollars in 2011.

Brazil's exports experienced a 39.1% reduction at 289 million dollars in 2009 due to the global recession. But it doubled its exports before that every year until 2008 based on its rich resources. In fact, its exports recorded 441 million dollars, which increased by 192% from the previous year (2007), in 2008. It is part of the so-called BRICs, a country with great potential.