Success Stories

Contracts that were about to be suspended...Taking a step forward with the COVID-19 crisis as an opportunity.
  • SELLER Date2022-07-18 17:30:09
    ITPS_Intelligent Tablet Packing System_
    • Product Name

      ITPS(Intelligent Tablet Packing System)

    • Product Category

      Equipment & Packaging > Packaging > Pharmaceutical Packaging

    • Company Name

      CRETEM CO., LTD

 

 

                                                                     

                            CRETEM AP heavy equipment                                        Domestic company - CRETEM CO., LTD.

 

 

 

In May 2019, Hong Kong-based buyer TeraMed asked the tradeKorea matchmaker to introduce a related manufacturer in order to purchase a fully automatic packaging management equipment that allows pharmacists to dispense medicines without touching them. The matchmaker introduced various domestic companies to the buyer after asking the Korea Medical Device Industry Association for a list of manufacturers of fully automatic packaging management equipment so that the buyer could select the right company for the Hong Kong market. The matchmaker received a list of three manufacturers and contacted each company to obtain a catalog of the equipment and delivered it to the buyer. After reviewing the relevant materials, the buyer decided to have a more in-depth discussion with CRETEM among the three domestic companies.

 

 

 

 

CRETEM is a Korean manufacturer of small, fully automatic tablet packaging management system that can be dispensed at high speed without going through the hands of pharmacists. This company's equipment has the advantage of being easy to manage, such as replenishing medicine and cleaning, unlike other manufacturers' equipment. The buyer was very interested in the Company's products, even signing a non-disclosure agreement (NDA) with the Company. It seemed that this contract was going on, but the buyer decided that the demand in the Hong Kong market would not be adequate and the supply price would not be appropriate, so the conclusion of this contract was temporarily suspended around October 2019.

 

 

 

 

 

Since then, “distancing in daily life” has become commonplace due to the sudden outbreak of COVID-19 in 2020, and contactless products and daily quarantine supplies have been in the spotlight. Currently, there are many products that have evolved from simply avoiding face-to-face contact with people to minimize infection by keeping people out of touch. In Hong Kong, as daily lives are changed due to the spread of COVID-19, the buyer judged that the demand for small, fully automatic tablet packaging management system in Hong Kong would increase significantly due to sudden market change and once again contacted CRETEM through the tradeKorea matchmaker.

 

 

 

 

                              

CRETEM Tablet Packaging Management System (1)                          CRETEM Tablet Packaging Management System (2)

 

 

 

 

The buyer wanted to visit Korea to see the product in person and sign a contract, but COVID-19 made it difficult to visit, so the buyer could hardly handle the business quickly. The tradeKorea matchmaker suggested a video meeting to the buyer and the Company; after that, all consultations and contracts were conducted online, and the buyer purchased a machine from the Company as an initial order. After exporting the product, CRETEM has dispatched its employees to the local area to provide training on how to use it and also taught the buyer how to use it through video materials as it was difficult to enter and exit the country. CRETEM still provides technical support by answering various inquiries through video meetings with the buyer from time to time. CRETEM plans to extend its contract with an existing Chinese agency at the end of this year and, after renewing the contract, sell fully automatic tablet packaging equipment to Hong Kong in earnest through said Chinese agency.

 

 

 

 

 

The contract, which was close to being suspended due to lack of demand, has changed the way of life of people around the world due to the onset of COVID-19. Taking this opportunity as a steppingstone, however, CRETEM has succeeded in exporting its product to various countries, and the Company is cooperating to end COVID-19. The buyer expressed its gratitude to both the tradeKorea matchmaker for introducing a good Korean manufacturer and CRETEM for making and selling a good product.