In early 2017, CBT Matching Team at tradeKorea was searching for a promising company in tools manufacturing among its members, when it discovered the automatic tying machines for agriculture of Hana Corporation Inc. A tradeKorea representative visited the office of Hana Corporation Inc. in March 2017 to listen to the explanation of the products and discuss the means of assistance for export. Though it is a small company with only three employees, the tradeKorea representative saw that the passion for export was unequaled. Additionally, there are only about five companies in the world that manufacture and sell automatic tying machines for agriculture, leading to the decision to actively support Hana’s export marketing.

▲ Automatic Tying Machines for Agriculture

Hana Corporation Inc. was selected as a company to participate in the international promising exhibit, which is supported by tradeKorea for member companies of the trade association and tradeKorea, and given an opportunity to present its products at TOOL JAPAN, held from October 11th to 13th.

During the exhibit, a Japanese tool distribution buyer became interested in the automatic tying machines for agriculture that manufactured by Hana Corporation Inc. From the buyer’s side, six people, including the CEO, Managing Director in Marketing, local office directors in Kyushu and Hokkaido regions, and two presidents of affiliate companies visited the booth twice for a detailed discussion on the product and were considerably satisfied with the product’s performance and price. The buyer originally imported and sold the products of a French manufacturer, a competitor of Hana; however, due to issues of wire twisting control and wire removal after bundling, it had been holding inventory.

▲ 1st meeting with Japanese buyer LOI

Having thoroughly checked the products on the first day of the exhibit, the buyer revisited the booth on the following day and stated that Hana’s products satisfy the specifications desired by the buyer and, at the same time, maintain a competitive edge in cost to anticipate positive responses in the Japanese market. For a transaction with Hana, the buyer signed a letter of intent at the exhibit and also purchased samples.

▲ 2nd meeting with Japanese buyer LOI

Meanwhile, Hana Corporation Inc. only possessed UL and CE certifications of the product but no Japanese PSE certification. However, the buyer showed its intention to sign a large-volume purchase contract once Hana obtains the PSE certification, and, in return, the tradeKorea representative shared with Hana the news of the buyer and issues regarding the certification after the completion of the exhibit. Upon receiving the news, a Hana representative immediately applied for PSE certification.

Currently, Hana Corporation Inc. is applying for a government support project to acquire the PSE certification, and the buyer has ordered 20 additional sample machines. The product is under market testing through the buyer’s distribution lines.