Success Stories

Success Stories
Business Type Seller
Subject Successfully exporting to an Australian vendor specializing in supplies to hotels and restaurants thanks to the support of tradeKorea matching agent.
Product Name KISP Series (Portable high-output type) View Product Detail >
Product Category

Home Appliances > Gas Cooker, Range, Stove

Home Appliances > Induction Cooker

Company Name INSTEM Minisite >
Summary Founded in 2010, Instem is a manufacturer and distributor of eco-friendly, high-efficiency induction ranges for various hotels and restaurants and, despite the potential suspensions of transactions with the buyer due to low sales in domestic market and language communication issues, successfully exported to an Australian vendor specializing in supplies to hotels and restaurants thanks to the support of tradeKorea.
Contents

KISP Series (Portable high-output type)


There are many companies that prematurely chose to assess that their “products will not succeed globally” due to a lack of experience in exporting. There are other companies that knock on the door of tradeKorea’s online trading agency service, feeling like they have nothing to lose. In response, tradeKorea’s matching team not only facilitates online transactions but also provides essential insight throughout the export trading process in association with the service to support inexperienced export corporations.


In July 2017, an Australian buyer asked tradeKorea if “it is possible to connect with a representative of a company that can resolve the issue of difficult communication due to language barriers.”
Founded over 30 years ago and headquartered in Melbourne, Australia, the buyer is a supplier of commercial cooking equipment to restaurants and hotels that are rated 5 stars or higher. After a number of email exchanges with the buyer, the tradeKorea matching agent concluded that the buyer is genuine and sincere.


Based on the buyer’s request, tradeKorea recommended two companies whose built-in induction highlight products are KC-certified and, after an internal review, the buyer expressed their preference for Instem’s products for businesses and, as a result, requested details about product catalogs and features.
However, a communication issue arose; Instem did not have any personnel capable of not only working on trading tasks but also communicating properly in English. Feeling stuck, the buyer asked for the help of tradeKorea’s matching team while Instem did not want to proceed further based on their fear of international transactions.


The tradeKorea matching agent received detailed model information and functional and technical documentation from Instem, all written in Korea, and translated and delivered them to help the buyer better understand the contents. The buyer replied immediately and expressed their interest in two of the product models. As they had been exclusively used in the domestic market, the buyer inquired about the possibility of adding touch controls and additionally requested smart griddle products in line with the current trends of the Australian market. As these were technically difficult aspects, the agent presented many mockups to the buyer to continuously confirm if it matches what the buyer wanted, to ensure an accurate understanding and delivery of information.


Based on the determination that it was a transaction that had a great potential to succeed, the tradeKorea matching agent not only listened to Instem’s explanation on everything from the products’ details, buyer’s request for revision and replies to product-related inquiries to sample production and shipments, but also independently studied the products to be able to conduct negotiations with the buyer. After quickly reaching an agreement, they assisted Instem with actual tasks by helping to adjust the price level requested by the buyer, write various trading documents and communicate with the buyer.


Despite the potential suspension of a deal with the buyer due to low domestic sales and communication issues, tradeKorea patiently kept the negotiations going, which has led Instem to be able to enter a broader market with a greater caliber of potential users. The buyer and seller alike expressed their gratitude towards tradeKorea that has provided its utmost support throughout the tough process from the initial matching to the final export dealmaking.


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