This success story comes from providing the following service: Representation and Liaison Services in Korea
A South Korean conglomerate, having won a bid for several national energy and infrastructure projects in Israel, issued an internal public tender inviting relevant Israeli companies to provide services and works.
TARGET: WINNING THE PUBLISHED TENDER BY KOREAN CONGLOMERATE
Aiming to submit a competitive offer for the tender, our client — a leading Israeli metal industry company — appointed KOISRA as its official representative in Korea. This strategic move ensured seamless communication, negotiation in the local language, and the building of mutual trust with the Korean conglomerate.
CHALLENGE: REPLACEMENT OF THE PREVIOUS CONTRACTOR
The Korean conglomerate had prior experience with another Israeli company through previous projects, which seemingly gave the latter an edge due to established labor relations and business understandings. Our client, however, had no prior business relationships with the Korean conglomerate.
WORK PRACTICE: STUDYING THE BID, THE COMPETITORS, AND COMMUNICATION MANAGEMENT
To address the challenge of swaying the Korean company towards our client's offer, the KOISRA team embarked on a thorough analysis of the tender terms, our client's proposal, competitors' bids, and the history of the Korean conglomerate's projects with other Israeli companies.
The analysis revealed our client's strengths and weaknesses compared to other bidders, leading to the development of an appropriate communication and negotiation strategy. KOISRA identified and engaged with key contacts within the Korean conglomerate, facilitating any necessary clarifications or meetings in South Korea, thereby maximizing convenience and ensuring the prompt exchange of information.
An introductory meeting was arranged, where KOISRA introduced the client's extensive experience and capabilities. This meeting established a direct communication channel, fostering clear and efficient interactions. Furthermore, KOISRA carefully managed outgoing communications to avoid cultural misunderstandings, assisting in negotiations, including price discussions, to refine our client's offer for the tender.
RESULT: OUR CLIENT WON THE TENDER
Establishing a direct communication channel between the Korean conglomerate and KOISRA streamlined message exchange and negotiations, significantly easing the process. This efficient communication framework, coupled with strategic adjustments to our client's offer and the proactive management of cultural nuances, significantly enhanced the Korean company's confidence in our client. These efforts ultimately led to our client winning the tender, highlighting the importance of strategic representation and effective communication in international business engagements.
