Business development in Korea for a supplier: successful

In today’s globalized world, successfully integrating the supply chain of major automakers is no mean feat, especially in markets as competitive and demanding as South Korea. SNECI, thanks to its expertise in business development and its local network, has enabled a European supplier specializing in automotive mechatronics to take this decisive step and become a supplier to an international manufacturer. Here’s a detailed overview of this successful mission.

Mission context: Business development in Korea

The supplier wanted to penetrate the Korean market, with the main aim of becoming a HYUNDAI reference. This world-renowned automaker is known for its stringent quality and safety requirements. The mission was therefore complex, requiring a methodical approach and in-depth knowledge of the local market.

Project milestones

1. Market Prospection and Analysis
   • Market research: Before taking the plunge, SNECI carried out an in-depth analysis of the Korean market to identify potential opportunities and challenges. This step was crucial in adapting the market penetration strategy.
   • Opportunity identification: We targeted specific sectors where the supplier’s products had a competitive advantage, with particular emphasis on HYUNDAI’s safety requirements.
2. Strategic approach to referencing at HYUNDAI.
   • Local collaboration: SNECI mobilized its local office in Korea to ensure smooth communication and cultural understanding, essential for business negotiations.
   • Coordination with HYUNDAI: In collaboration with HYUNDAI’s purchasing and development center, we set up an engagement strategy to meet the manufacturer’s specific expectations.
   • Demonstration of Reliability: SNECI played a key role in presenting the necessary guarantees to reassure the manufacturer of the supplier’s ability to meet high safety standards.
3. Quality and safety assurance.
   • Compliance with Standards: It was imperative to prove that the product met all safety standards. SNECI coordinated compliance testing and provided detailed guarantees to the end customer.
   • Cybersecurity and Operational: In addition to the mechanical and electronic aspects, we highlighted the product’s cybersecurity capabilities, a crucial element for the new connected vehicles.

Results and outlook

Thanks to our intervention, the supplier was successfully referenced for a mechatronics project at HYUNDAI. Series production is scheduled for 2025, with parts manufactured in Europe. This success has opened doors for the supplier in the Korean market. It has also strengthened SNECI’s credibility as a major player in international business development.

Conclusion

This success story perfectly illustrates SNECI’s expertise in business development and the management of complex international projects. Thanks to our network, in this case in Korea, our ability to understand local needs sets us apart. We also ensure compliance with strict safety standards. What’s more, we’ve built up trusted relationships with leading automotive manufacturers. As business development in Korea, we are also active in many other countries. For companies looking to expand into foreign markets, SNECI is the ideal partner. SNECI helps you navigate this complex environment and succeed.

To find out more about our services and how we can help you achieve your business goals, please contact us.