G. East Co., Ltd is a company exporting Korean agriproducts located in Andong-si in Gyeongsangbuk-do. Established in 2008, ‘G. East (Great East)’ means that it aspires to be the best in Asia.
Park Mun-su, the President of G. East Co., Ltd, said: “I established our company based on my experience of trading learned at the NH Trading Co., Ltd in the past. Fast forwarding to the present, now I’m proud to say that our export areas are increasing because the company has pulled out all the stops developing new items taking into account consumers’ preferences through consulting local buyers and displaying new packaging.”
The exporting products, numbering twenty, divide into a hundred sorts the main items of which are pine mushroom, enoki mushroom, kimchi, citron tea, Singo pear, and noodles. Among these numerous products those enjoying high exports include Bulgogi sauce, dried laver, Chinese cabbage, green pumpkin, Samgyetang (ginseng chicken soup), and frozen-cooked rice. The company also distributes Tteokguk (sliced rice cake soup), Tangs (stew), Juk (porridge), soups, and red pepper powder. It buys these products from thirty companies across the whole country, thirty three percent of these being Nonghyup brands that enjoy the confidence of local buyers.
In the case of exporting kimchi, the company mainly distributes Pungsan-kimchi produced by West-Andong Nonghyup and Namdo-kimchi produced by Suncheon Nonghyup. The company also exports fruits such as pears produced by the Cheonan Pear Association (CPA) and Iksan Pear Association (IPA), persimmon produced by Changwon Dongeup Nonghyup, and citrus produced by Seogwipo Nonghyup. The exported marine products include anchovy, seaweed, kelp and squid slices produced by Busan Dongbu Suhyup. Enjoying high popularity are citron tea, Sikhye (rice punch) and citrus juice produced by North Andong Nonghyup. Pine mushroom, produced by Hamyang Jirisan Nonghyup, is a best exporting item.
The competitiveness of G. East Co., Ltd is due to three factors: following market trends, producing packaging that considers consumers’ preferences and active marketing overseas. An example of success in this regard is the company’s development of Bulgogi sauce and kimchi sauce fitting foreigners’ tastes in the United States, Hong Kong, and Indonesia. Crab stick for Gimbap (dried seaweed rolls) will be exported to North America.
The company developed custom-made packaging such as four Singo pear-pack and tailor-made boxes. The four Singo pear-pack exported to America was originally 5kg (for 7~8 units), but now it’s down to 2.5kg (for 4 units) because the company considered local consumer’s buying behavior.
The exporting markets of G. East are North America, China (including Hong Kong), Japan, and Germany, the main export market of which is the United States which takes 40%. This year the company plans to export largely to Japan and China and also to actively target Taiwan. The company will export Samgyetang and kimchi in addition to noodles such as Naengmyeon (buckwheat noodle soup) and Jajangmyeon, (black-bean-sauce noodles) to Japan. The company is going to export Samgyetang and citron tea to Taiwan.
The record of export increased remarkably through these overseas sales efforts. It was USD$ 1.7m in 2008 rising to USD$ 7m last year. This year the company will participate in famous food fairs around the world with the aim of exporting USD$ 10m. Last year the company took part in Tokyo FOODEX, the Jakarta fair, Shanghai fair, and Las Vegas Cisco. This year it is going to participate in many fairs around the world such as in Tokyo, Dubai, Guangzhou, Taipei, Australia, Shanghai, and Las Vegas.
Mr. Park said: “Our company is focused on broadening export markets through increasing our customers load and through participating in many fairs to win new buyers.”
Inquiries Park Mun-su Tel +82-2-711-2134 Fax +82-2-711-2135
Park Sung Eun firstname.lastname@example.org
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