Australian Buyer Signs a Contract with Korean Premium Rice Cooker Company Cuchen
'e-Power 300' refers to 300 companies selected by the Korea International Trade Association, KOTRA and the Small and Medium Business Corporation after the three organizations signed a business agreement. The selected companies are deemed suitable for e-commerce export and will receive concentrated support in the future. Then, the Matching Manager at the Buyer Matching Team of tradeKorea selects ‘e-Power 300’ companies for each industrial sector and provides outbound marketing services and benefits to those chosen as premium support companies.
Cuchen, a leading kitchen appliance company in Korea, was selected as an ‘e-Power 300’ premium matching company and thus eligible to receive ample support in the procurement of new business partners.
Recently, Golden Hood, an Australian distributor of commercial kitchen supplies, requested a commercial rice cooker with a 9 liter capacity and an electricity supply rating of 2.4kW/hour that can be used in hotels and restaurants. The estimated order size was 200, quite large for a first order.
The Matching Manager at tradeKorea selected four Korean companies that meet the requirements set forth by Golden Hood and possess an adequate customer base among commercial rice cooker and kitchenware manufacturers and distributors. Cuchen, which was expected to focus on home appliances, actively promoted its commercial multi-cooker that fit the requirements.
The Matching Manager at tradeKorea told the Australian buyer to pay special attention to Cuchen, a leading rice cooker manufacturer in Korea. Within a week, the buyer received a list of the candidate companies and their specific product specifications and showed deep satisfaction in the product specifications provided by Cuchen. They decided to do business with Cuchen as recommended by the matching manager.
To further examine the product, the buyer requested a sample rice cooker. A month after the sample was sent, test results came in and the buyer was satisfied with the quality. They immediately placed a first order for 200 rice cookers. Considering the nature of the home appliance market, which operates through a status-oriented approach, exporting usually involves signing an exclusive contract with the client in a specific market. 200 units, however, is not a big enough order in the Australian market to sign an exclusive contract. As such, the manager at Cuchen was not able to sign the contract.
The Matching Manager at tradeKorea, kindly explained the situation to the buyer and negotiated a contract for 300 units that would completely fill up a 40 feet container. The Manager at Cuchen, in return, agreed to accommodate the buyer’s demands for price and packaging details. After some pulling and hauling, the buyer placed on order the300 rice cookers, concluding a satisfying outcome for both the buyer and supplier.
The Manager of Cuchen was grateful that the company could do business with a reputable buyer in Australia and expressed the will to actively participate in on and off-line marketing support projects hosted by tradeKorea in the future.