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"To the World Stage through Overseas Exhibition as a Stepping Stone"
Recently many of small & medium business are advancing into the world stage by dreaming of global hidden champion. These export warriors overcome the limit of weak networks and capital, and are planting Korea brands all over the world. Here we introduce the challenge story of small & medium business that takes the first steps to enter into overseas market and displays the amazing marketing power in 4 series.
Kim Young-Jin, President of DKM, a small geared motor manufacturer located in Incheon, and all employees are very busy to meet the recently extended amount of export. Especially, since participating in the exhibition in Thailand and Vietnam in February and May with the support of SBC(Small and Medium Business Corporation), the export in this area is increasing. President Kim said “the export for Thailand that the monthly average was $3,000 last year has increased $8,000 more than double since the participation of exhibition” and added that “this is the result that we had participated in the exhibition and worked hard for a long time”.
DKM has recently accelerated for the attack of overseas market through the participation of overseas exhibition. The thinking of President Kim ‘securing the global competition is the only way to survive for small & medium business’ has returned with the result of the increase of overseas export recently.
DIM has concentrated only in the field of motor over 20 years and accumulated the awareness of brand very widely. In 1987, we localized the whole amount of small precision geared motor which relied on the manufacturer of Japan and since then, we developed the synchronous motor and the technical capability was acknowledged in the same industry. We produce now 5,000 kinds of motor and the product competitiveness of DKM stands the pace comparing to others.
It was since 1990 that DKM knocked the door of overseas market based on knowhow accumulated at home. Starting from China, DKM proceeded the export steadily to India, Indonesia, Malaysia etc. and recently we are turning away our eyes to European market. DKM has participated in overseas exhibition 3 times average in a year in China and East Asia and even Europe and recently exceeds 10 times in year.
The reason that DKM has involved in the export like this is based on the belief of President Kim, “the activities in overseas market are needed for sustainable growth.” He emphasized that ‘”if SMB continues to develop new product and compete with others, they should identify the status of overseas competitors and oversea market” and added “overseas exhibitions are not just the place to sell the product but an optimal opportunity to read the market and competitors.”
The problem was a cost. Whenever they participate lots of exhibition, the cost for exhibition is generated over 150 million KRW annually which was a great burden of DKM who recorded the sales of 4.5 billion KRW last year.
DKM decided to use overseas exhibition support program of SBC from this year. In the Incheon Seogu Bangkok World Best Product exhibition and Vietnam Industrial Machinery Exhibition where they participated in the beginning of this year, they accomplished the results of export business of total $40,000 due to hard race of having more than 10 meetings.
DKM is now preparing for another challenge. Since they moved in the export incubator in Frankfurt, Germany, operated by SBC, they are ready to attach the European market. President Kim has a special expectation for the office in Frankfurt as it is the first permanent staying office installed in Europe.
[Reported by Kim Heung-Rok, Journalist]
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