Establishing and maintaining a strong business relationship is critical to succeeding in Korea. Companies hoping to enter the Korean market should visit the country frequently to cultivate contacts and to better anticipate business conditions.
A local presence is essential for success. U.S. companies should retain a manufacturer’s representative or distributor, name a registered trading company as an agent, or establish a branch sales office.
Regionally, U.S. companies should be aware of some trends that are happening or have happened when planning their marketing strategy in Asia. Some business trends to keep in mind are:
- CONVENIENCE - ONLINE: Convenience shopping is big in Asia. Online shopping has shown significant increase in the past several years, as it proved safe and easy to purchase goods without leaving the safety of their home. Offline strategy alone is no longer a strong marketing strategy. Having a strong online presence (social media using cross-border apps) to reach Asian consumers is a strong marketing strategy for the region. It is recommended to do pre-market research to see if your company is ready for Asia.
- GOING OUT: Asians like to go out and are looking to travel overseas, travel domestically, eat out and have unique and exciting experiences.
- UNIQUENESS: Asian consumers are more willing to spend money on premium and luxury goods, with an eye for uniqueness and exclusivity, new products/brands have an opportunity in the market with a good marketing strategy.
- “HEALTHY” AS A MARKETING PARADIGM: “Healthy” has become a top priority for many Asian consumers. They are looking for more natural alternatives in both food and body-care. Asian consumers are attracted to aesthetically pleasing packaging, with clean labels and positive nutritional claims.
The Commercial Service in Korea (CS Korea) is eager to assist U.S. companies in developing connections by identifying and introducing potential buyers, distributors, and importers. Please consult https://www.trade.gov/find-buyers-and-partners.
For support relating to U.S. agricultural commodities and processed foods, please consult the Exporter Guide.