Client Overview
Our client is a group of eight European companies specialising in shipbuilding and ship interior design. They were interested in expanding their business in South Korea and establishing partnerships with local companies in the industry. As consultants, we were tasked with organising a business delegation visit programme to South Korea for the client in October 2022.
Market Research and Planning
To create a successful visit programme, we conducted extensive market research to identify potential partners, competitors along with current market trends in the South Korean shipbuilding and ship interior industry. We used this information to develop a customised programme that included visits to key locations such as Daewoo Shipbuilding & Marine Engineering (DSME), Busan, and the Offshore Korea exhibition.
We also scheduled forty B2B meetings for the client with potential partners and industry leaders to help them establish valuable connections and explore business opportunities in South Korea.
Program Execution and Results
Our program ran for four days, and we were alongside the client group throughout the visit. During the programme, the client group had the opportunity to meet with a wide range of stakeholders, including top executives from shipbuilding companies, interior designers and distributors. They also had the chance to visit key locations such as the DSME shipyard, where they observed cutting-edge shipbuilding technology and techniques in action.
The client was extremely satisfied with the programme’s success, citing the high level of organisation, strategic planning and the quality of the B2B meetings as key factors in their positive experience. Thanks to our efforts the client was able to establish valuable connections with local companies and stakeholders in the South Korean shipbuilding and ship interior industry.
Key Takeaways
Our successful delegation visit programme to South Korea highlights the importance of extensive market research and strategic planning when entering a new market. By leveraging our expertise in market research and planning, we were able to help the client establish valuable connections and explore new business opportunities in South Korea.
Our programme also underscores the importance of face-to-face meetings and personal connections in building business relationships in a new market. Thanks to our programme’s carefully planned B2B meetings and site visits, the client was able to establish meaningful relationships with key stakeholders and set the foundation for their long-term success in the South Korean market.
