Busan targets Azerbaijan in bid to break into new regional markets

Busan is targeting the Caucasus as a new export market as trade uncertainties increase, including US tariff policies, instability in the Middle East and protectionism in Europe.

The Busan Metropolitan Government will send the 2026 Caucasus Consumer Goods Trade Mission to Baku, Azerbaijan, and Tbilisi, Georgia, from November 8 to 14, Seoul Economic Daily reports.

Ten local companies will take part, holding export consultations with local buyers and seeking new trading partners.

Busan views the Caucasus as a strategically important market because of its location between Europe, Asia and the Middle East. Georgia is seen as a gateway linking the European Union and the Commonwealth of Independent States, while Azerbaijan offers access to neighbouring markets including Türkiye, Georgia and the Middle East.

The city also sees growing interest in Korean products, driven in part by the spread of K-dramas and K-pop. It said demand was increasing for consumer goods such as cosmetics, food and household products.

Busan's exports have risen for six consecutive months. The city said it aims to sustain that growth by diversifying markets and reducing exposure to external shocks.

Participating companies will receive support covering 50% of round-trip airfares, as well as local transport and interpretation costs for export consultations. Applications will be accepted through the Busan Export Platform until September 28.

"At a time when the trade environment is changing rapidly, we will expand effective support for entering overseas markets and broadening sales channels," Kim Ki-hwan, head of the city's Digital Economy Bureau, said.

By Aghakazim Guliyev