R’s Skin Booster Wins a Contract Worth USD 700,000!

R – Wonju Factory

Contracted product - YOUTHEAL Skin Booster

R’s growth is driven by creative R&D and strict quality management. Headquartered in Wonju, Gangwon-do, the company has been developing innovative products in healthcare devices, healthcare products, and cosmetics. Guided by a pioneering spirit of a thirst for new challenges, the company aims to adapt to the fast-evolving market, touch the hearts of consumers with quality products, and create value for them. R won the Best Brand Award in the “filler” category at the Korea Customer Appraisal Awards for two consecutive years in 2021 and 2022, and it is also exporting its products to a growing number of countries based on its ever-increasing competitiveness in the global market.

The buyer came across Skin Booster at the online exhibition hall of tradeKorea Gunpo Expo 2023 in February and submitted an inquiry. Upon receiving the inquiry, the matching manager confirmed the product the buyer was looking for. The buyer was looking for a high-quality skin booster product, and was particularly interested in its stability and acquisition of global certifications. After carefully reviewing all of the buyer’s requirements, the matching manager came to the conclusion that R’s skin booster met the buyer’s conditions and hence matched R and the buyer, resulting in the first successful meeting. The buyer was deeply impressed by R‘s products, and the talks appeared to be on the fast track.

However, the negotiations encountered an unexpected stumbling block. The buyer expressed concerns over logistics and the supply schedule, slowing down the talks. In particular, the two parties became divided over price as the logistics cost exceeded expectations. The matching manager revised the terms of the contract and adjusted the size of the initial order accordingly. He also suggested a flexible contract scheme that allowed the two parties to renegotiate the price as the volume of orders increased. They agreed to the proposed scheme, and the negotiations proceeded smoothly afterwards.

Eventually, R and the buyer signed a 5-year contract worth USD 700,000. R thanked the matching manager for the successful matching with the buyer. The buyer was also pleased to secure a stable supply of a high-quality skin booster. Building upon this successful matching experience, KITA will renew its efforts to match more Korean sellers with overseas buyers.