An Israeli importer of industrial goods and machinery sought to expand its business activities and explore the possibility of importing and installing passenger and cargo elevators manufactured by a leading Korean corporation, aiming to become the official representative of the Korean company in Israel.

TARGET: TO BECOME THE REPRESENTATIVE OF THE KOREAN CORPORATION
The client had previous contact with the Korean manufacturer, yet it did not develop into significant strategic business relations. Consequently, KOISRA was requested to assist in this matter.

CHALLENGE: OVERCOMING LACK OF TRUST AND PRODUCT STANDARDIZATION ISSUES
The Korean corporation, a prominent elevator and lift manufacturer in Korea and Asia, has been hesitant to enter the European and Israeli markets due to business considerations and stringent standardization requirements. Therefore, the client found it challenging to convince the Korean corporation of the promising business potential in the Israeli market. A lack of trust and deficient communication between the parties led to the Korean corporation's reluctance to make the necessary adjustments and modifications to its products to meet local standards.

WORK PRACTICE: ESTABLISHING DIRECT COMMUNICATION AND STRATEGIC MEETINGS
The client planned to broaden their business to include elevators, facing business and technical challenges from the Korean manufacturer. To overcome these challenges, the KOISRA team reviewed the client's business plan in the elevator sector, potential projects, and expectations from working with the Korean corporation. Additionally, previous communications between the parties were examined.

The review revealed that the client's business plan was not aligned with the Korean manufacturer's plans for the Israeli market, and numerous technical barriers existed due to the incompatibility of the Korean manufacturer's products with Israeli standards. Therefore, the KOISRA team devised a strategy to develop a direct communication channel with relevant contacts in the Korean corporation who could instigate a policy change regarding market activity in Israel.

While identifying relevant contacts at the corporation's offices in Seoul, South Korea, the KOISRA team refined the client's business plan to present it professionally and in the local language to the senior management of the Korean corporation.

Subsequently, several meetings were arranged with the Korean corporation, during which KOISRA highlighted the client's profile and business plan in the elevator sector, emphasizing the significant business potential of the proposed cooperation. To address technical issues related to Israeli standardization, a joint work team comprising representatives from the client and the Korean corporation was established and supported by KOISRA, including meeting facilitation in Seoul and Tel Aviv, communication management, negotiations, and problem-solving.