KITA, Online Matching Service for Small Exporting Companies Grow Rapidly
- Q1 Performance on Export Contract, 323% Increase from the Previous Year -
- Try to Achieve More than 10,000 Matching between Korean Small-and-Medium-Sized Companies and Overseas Buyers through B2B and B2C Linkage –
'KITA(Korea International Trade Association) is a public-private organization that has developed tradeKorea.com. As a leader in advancing export strategies, trade systems and procedures, KITA supports SMEs to find new customers and secures a wide range of business connections through tradeKorea.com database. If you want to know more about KITA, please click here.
Korea International Trade Association (president Duck-soo Han) shows rapid increase in its performance on online trade matchmaking. As of the first quarter, the number of matchmaking between Korean small-and-medium-sized companies and overseas buyers through online trade matching was 3,489 cases, which is two times bigger than the previous year. A total of 131 export contracts were signed through trade matching service, which is 323% bigger than the previous period and value increased by 151% to 10 million dollars.
The online trade matching service by KITA is based on global e-market place ‘tradeKorea.com’ under which Korean small-and-medium-sized companies are linked to overseas buyers. The characteristic of the service is one-on-one online and offline support by responsible person by service and product.
Various success stories exist by item.
◆ Amazing Grace Co., Ltd had difficulties in securing export market even though it manufactures competitive idea products like portable USB humidifier. President of KITA Duck-soo Han saw the products of Amazing Grace at Seoul Living Design Fair and introduced the matching service to the company. The KITA matching service team provided full support to find a buyer online using tradeKorea.com and finally deal was made with a buyer, who is a good vendor in Amazon this year.
◆ Curaco Co., Ltd successfully exported its product using KITA matching service with its unique product of auto feces handler. Curaco gained good response in domestic market after it developed its product for 4 years but had difficulties in finding overseas buyer as it had no experience of overseas marketing. The company requested matchmaking to KITA and KITA could help in signing a contract with European buyer by utilizing DB and overseas branches.
Consumer goods are not alone in finding buyer online successfully.
◆ Global Business Matching Service (GBMS) of KITA checked the request from a buyer in Southeast Asia looking for refrigerator conditioner manufacturer and responsible team member of KITA arranged a deal with Weltem Co., Ltd. After the export contract was made, person responsible for matching played a significant role in exporting of goods by being involved in problems including clearance issue in the Southeast Asian Country.
In addition, many success stories are written based on KITA online business matching service for many industries including chemical products, auto parts, industrial machine line, spice and seaweed.
In the meantime, KITA will identify new export opportunities for domestic small-and-medium-sized companies by linking overseas direct sales online shopping mall ‘Kmall24.com’ which will be launched in June to existing business. If overseas consumers, who directly purchased Korean products through Kmall24, want large-scale distribution or large-scale purchase, the consumers are linked to tradeKorea.com.
Sohn Tae-kyu, head of e-Biz Services Group of KITA said “Korean small-and-medium-sized companies still have difficulties in securing sales channel even though they have competitive products”. “We will support those companies to export their products utilizing online business matching service, which is based on low-cost and high-efficiency model.
