K’s own brand "Iricon"

K was founded under the philosophy of “People Are the Asset, Technology Is the Product!” The customized factory automation system it has introduced allows K to maintain a high level of customer satisfaction and confidence. K is constantly increasing its share in the global K-beauty market by developing OEM color contact lenses and highly hydrophilic transparent contact lenses that are designed to meet the needs of consumers.

Amid the new business environment that has emerged since the outbreak of the COVID-19 pandemic, the global contact lens market, estimated at USD 13.1 billion in 2022, is forecast to reach USD 20.1 billion by 2030, and the market is expected to grow at an annual average rate of 5.5% from 2022 to 2030. According to Euro Monitor, the demand for contact lens in Thailand is expected to continue increasing due to various reasons, including the introduction of new products, the growing middle-class population, and deteriorating eyesight due to increased exposure to computers, mobile electronic devices, TV, and other electronic media.
(Source: Global Industry Analysts, Inc.)

Upon receiving an inquiry from T of Thailand about contact lens, the matching manager of tradeKorea contacted K. T, a distributor that supplies products to different categories of market including household and beauty wanted to source high-quality contact lenses from Korea in response to the growing demand in Thailand. The matching manager confirmed that the two companies were a good match in terms of their needs and decided to go ahead and bring them together.

The matching manager acted promptly and arranged a meeting with K, at which an advisor from KITA was also present, to discuss an export deal. With the active response and cooperation of the Korean company, the meeting proceeded smoothly and quickly and the Thai buyer ended up placing a sample order. Soon after the meeting, the two companies agreed to an initial sample order worth USD 90,000 on T/T in advance. The Thai buyer expressed its wish to stay in contact and continue working with K, and said that it is considering ordering other items from K, after testing the initial order.

The matching manager arranged meetings with ten more companies that participated in the Boom Up Korea, and free samples were sent to eight of them. Impressed by the advanced technology and quality of K’s products, the buyer is currently in talks on main orders. Both the buyer and K expressed sincere thanks to the manager and KITA for their role in promoting seamless communication and making a successful deal possible.