MAS.K, a VCS(Video Calls Service) to Cope with COVID-19 for the Ultra-Speedy Conclusion of PDA via Video Negotiations
△ Goshen Korea and a buyer in a VCS meeting
△ A demonstration of an SNS marketing campaign for a buyer
The matching manager received an inquiry from KITA’s Beijing Office at the end of February amid the COVID-19 outbreak.
According to the inquiry, the buyer was looking for an OEM contractor that can manufacture health foods and cosmetic products. The manager constantly exchanged messages with the buyer via the messaging app WeChat and email and found out that the buyer wanted to work with a cosmetics OEM manufacturing company.
The manager provided 2 lists of cosmetics OEM companies -- totaling 26 -- on March 5 and 6, and the buyer expressed interest in
3 companies after reviewing the websites of the listed companies. Subsequently, the matching process began, and the buyer became interested specifically in the products and systematic OEM process of Goshen Korea after reviewing the Korean company’s website and catalogues. Goshen Korea is located in Mok-dong, Seoul, and the CEO and all of the executive members at the company have more
than 20 years' experience in the industry. Their combined extensive experiences provide the company with superior ability to select raw materials and propose products.
Myeong-gyu Song, director of Goshen Korea, contacted the buyer immediately after the matching manager informed him of the inquiry
and sent the OEM formulation for the five skincare products of the buyer. The manager and Director Song responded to the buyer in real time, and negotiations on the ingredients, ratios, and packaging proceeded smoothly. The two companies signed the Product Development Agreement on March 18, with the sample development for the five products currently underway.
As soon as Goshen Korea started developing the samples, the buyer paid the development cost of USD 500($100x5=$500). The matching manager suggested that meetings be held via MAS.K, a video call service that is widely used on Trade Korea. The staff of the two companies were able to discuss a plan for product development face-to-face on March 25 and exchange ideas on business projects
wherein the two companies can work together in the future.
△The 5 basic skincare products of Monsan Biotech Group Limited under development by Goshen Korea
The buyer suggested that Quret of Goshen Korea be presented as a high-quality cosmetics brand of Korea at the Import
Expo of China scheduled for November 2020. The buyer also expressed hope that Director Song will visit Pudong Beauty Expo to be held in May if the COVID-19 situation improves and meet the buyer for a face-to-face meeting.
Song said he can view this matching process from both buyer’s and seller’s perspectives because Goshen Korea is a trading company that is a member of KITA. According to him, KITA arranged for Goshen Korea to be matched with the buyer at a time when the pandemic of COVID-19 makes it very difficult for the company to contact buyers directly, and the matching manager had
engaged extensively in communication with the buyer before the company finally met the buyer for business meetings to talk about the products. Song expressed gratitude to KITA for its matching service, saying that it was highly effective and useful.