Steps to take before making
sales contract with a buyer:
(1) market research
(2) search for buyers
(3) business proposal
Items of Research
Items related with market • Distribution structure
• Effective approach to local market • Potential market
Items related with products
• Marketability, profitability, Competitiveness • Regulations on export/ import
• Use the Internet • Visit websites
On-line
• Use export-supporting organizations • Field SurveyOff-line
• Entrust professionals with surveyAgency
- Korea Small and Medium Business Administration (중소기업진흥공단) - KOTRA (대한무역투자진흥공사)
- Korea International Trade Association (한국무역협회)
■ Use domestic organizations
related with trade
■ Visit a target country ■ Use exhibition
Organizations you can use to seek for business connections
(in case of Korea)
The center for export support,
Korea Small and Medium Business Administration
Korea International Trade Association KOTRA
Korea Chamber of Commerce and Industry Foreign Embassies in Korea
Korea Foreign Company Association
(韓國外國企業協會)
Other ways to seek for business connections
Overseas advertising
Use newspapers or magazines that trade- related organizations publish so that
domestic manufacturers or suppliers can advertise their products or items.
You pay for the space in such mediums to put your ads.
Using sites on the Internet that provide
information on manufacturers, suppliers,
or exporters
Put your ads in the sites
Asian Sources
,
www.asiansources.com
Global Sources
, based in Hongkong
www.globalsources.com.hk
From: To: Date: Subject: Dear Sir/Madam, (double-spaced)
(body)
Best regards,
Jo, Heungcheol, GSIS
Pusan National University
33, Geumsam-Ro, 5 Gil, Geumjeong-Gu
Busan, South Korea
(1) Introductory part
Tell the receiver briefly about your company if it is your first email.
(2) Main part
•
Write what you want, or what you are planning, followed by making a request for theinformation on buyers.
•
Tell the receiver the bank to which he/ she can refer for your credit. (信用 照會處 明示)(3) Closing part
Close by saying
“looking forward to receiving a
reply soon”with words of thanks
▶ There should be double space
(double-spaced)
Best regards,
Jo, Heungcheol, GSIS
Pusan National University
33, Geumsam-Ro, 5 Gil, Geumjeong-Gu
Busan, South Korea
From: Jo, Heungcheol
To: The Chamber of Commerce of Bangkok
Date: March 27, 2017
Subject: Seeking for Business Connections Dear Sir/Madam,
We have been manufacturing and exporting various kinds of vacuum cleaners for more
than 10 years. Now we are planning to export
vacuum cleaners to Thailand.
However, unfortunately, we do not have any good connections in your country. We would appreciate it if you could
introduce to us some reliable importers who are interested in the business of
vacuum cleaners.
For any information as to our financial standing and reputation, please refer to Hana Bank, Jangjeon Branch, in Busan, Korea.
Thank you very much for your attention, and we look forward to receiving
your reply soon.
Best regards,
Jo, Heungcheol, overseas sales team
Hanguk Electronics Corp.
33, Geumsam-Ro, 5 Gil, Geumjeong-Gu
Busan, South Korea
A circular letter ⇒
A letter of business propos
alBasic format of a circular letter is the
same as that of a letter making a request for a buyer.
(1) Introductory part
•
source from which you obtainedinformation on the other party
•
purpose of writing a letter
(2) Main part
•
Introduction of your company- history
- production items/ scale
- existing business connections - status in the industry
► Make it appeal to the other party!
► Avoid making your company look
bigger than it really is!
•
State more clearly your desire toestablish a business relation with the other party.
•
Tell the receiver the bank towhich he/ she can refer for your credit. (信用 照會處 明示)
(3) Closing part
Close by saying “looking forward to receiving a reply soon” with words of thanks
From: Jo, Heungcheol
To: Sombun
Date: March 27, 2017
Subject: Business proposal Dear Sombun,
Having heard from the Chamber of Commerce of Bangkok that you are interested in the
business of vacuum cleaners, we are writing
to you with a keen desire to do business with you.
We have been established in Korea for over 10 years as vacuum cleaner maker and exporter. Our products are highly accepted by our business connections in Japan, Germany, Australia, etc.
In order to diversify our existing market,
we are interested in supplying our
products to you on favorable terms. Upon receipt of your request for our catalogues and price list, we can send our catalogues with competitive prices to you.
As to our credit standing, we refer you to Hana Bank, Geumjeong Branch, in Busan, Korea
We are looking forward to your favorable reply with thanks.
Best regards,
Jo, Heungcheol, overseas sales team Hanguk Electronics Corp.
33, Geumsam-Ro, 5 Gil, Geumjeong-Gu Busan, South Korea
Tel.: +82-10-5686-9302, e-mail: _______