In August 2019, tradeKorea received an inquiry for health-functional fermentation enzymes. Though written in the Vietnamese language, no obstacles were faced in communications with the buyer thanks to the presence of a Vietnamese-speaking matching team manager at tradeKorea.

After confirming what product the buyer was looking for and assuring that the Vietnamese counterparty was a genuine buyer, the matching manager started contacting relevant businesses in Korea. The product wanted by the buyer was once produced by a large enterprise in Korea, but the company ceased production due to poor local demands. The matching manager recommended another brand’s fermentation enzyme product, which at first was turned down by the buyer that wanted the exact product for import. However, the matching manager persistently persuaded the buyer to positively consider other makers’ products.

△ Product recommended by matching manager

The matching manager found a hidden champion, which was the leader in the fermentation enzyme product market in Korea but had never exported its products, and introduced the company to the Vietnamese buyer. The maker was willing to export its products but had no experience in that regard, hence needed a trade specialist. The matching manager connected that company with an experienced food exporter, Jeong Won FD, through   tradeKorea. Finally the Vietnamese buyer, the maker, and the trade company got together for one common goal: launching the Korean fermentation enzyme brand in Vietnam.

The buyer purchased samples and tested the matching manager’s recommendation for two months. Highly satisfied, she showed her intention to buy the product. The buyer initially planned to import the product through a corporation run by one of her acquaintances but later decided to establish her own corporation after confirming positive response from the market.

While the maker had no experience in export, the buyer did not have prior experience in direct import, either, hence lacked experience in incorporation and paperwork for food import. The matching manager served as another link between the importer and exporter by Vietnamese interpretation and translation to assist in the incorporation process. All import documents the buyer requested were delivered through the matching manager.

A load of documents were required, and there were challenges in coordinating between many parties involved, but they managed to establish a Vietnamese corporation. The maker had a foothold for international market development with the first overseas sales of the fermentation enzyme product, and Jeong Won FD found a new item to export. In addition to the fermentation enzymes, the buyer recently purchased samples of another product, which is likely to lead to additional export deals.

After having the official import approval, the Vietnamese buyer plans to buy 1,000 boxes monthly for the first six months, afterwards she would consider importing container-full quantities once she finds a sufficient number of customers. The buyer thanked tradeKorea for introducing a good partner and helping further developing her business.