Do I Need a Sourcing Agency to Find Korean Suppliers? A Detailed Answer
Updated: Feb 15
Business is not the easiest thing to do on the face of the Earth. It is a never-ending quest for improving profits and decreasing costs.
As a business person, you want to do everything in your power to get ahead. And one of the best things when it comes to reducing the costs is getting your product from the Asian markets.
Asian markets like China and Korea have highly skilled labour that is immensely good at what they do and provide quality work at a reasonable price in an unbeatable time frame.
Hundreds of the top companies are transitioning to sourcing their products from China, India, Vietnam, and Korea. And while China is the enormous economy that everyone seems to be targeting when looking for a supplier, there are other economies that are growing on the global manufacturing scene. There are a few products that Korea is simply better at producing.
Why should I source my product from Korea?
There are many benefits of sourcing your product from South Korea. First and foremost, if you are sourcing from the United States, the trade relations of South Korea and the United States are optimum with no duties or MPF (Merchandise Processing Fees) on more than 95% of products. There is also no tax on exports by Korea, which is another plus.
Secondly, many Korean products are not available in the same quality elsewhere, the first name that comes to mind is of course K-Beauty.
Korea is the leader in producing quality beauty products. There has always been an emphasis on beauty in the Korean culture, and the cosmetics industry reflects that.
There is also an increasing trend in Korea of ”cosmeceuticals” that also are a major export from the country. Other industries like Vehicles, Plastics, Electric Equipment, Textiles are also significant exports that Korean suppliers are adept at.
When do you need to hire a sourcing agency?
When you decide to procure wholesale products from Korea or any other region whose dynamics you are not aware of, it becomes a separate challenge altogether.
You will have to find the suppliers, verify if they are real or not, assess whether they can do the job, compare their quotes with the market, ensure the perfect quality, all while making sure that the product reaches you in time.
Now there are directories with data of all the major suppliers of South Korea and many suppliers are also available on AliBaba and other E-Commerce platforms. Still, the fact is these suppliers often make you sceptical.
Moreover, some of the quality suppliers are also sceptical of you sitting in another corner of the world. They also tend to work only with trusted companies so if you are starting or have not outsourced from Korea before; it will be tough to get the best of the suppliers for your business.
That is why a renowned procurement service can be your business best friend. They help you get to the talking table with the supplier that you need and want, and get the best deal possible for you as well as the supplier.
The thing that needs to be remembered with sourcing agencies is that their customer is the manufacturer. And so their main concern is to protect the interests of their customer. That is why having a sourcing agency to protect your interests for the procurement of the Korean product of your desire is vital.
Now, if you are already sourcing from Korea, it is still advisable to talk to these sourcing agencies because, due to their diverse network, they can most probably get you the perfect supplier that can provide you with a quality product at a rate much lower than your existing supplier. Many of the top procurement services offer a free consultation so you should definitely make use of this offer and try to inquire if the agency has a supplier that makes your product specifically and give them a chance to impress.
If you have been in business for a significant amount of time, the importance of delegating tasks and trusting competent people would not be unknown to you. So finding a sourcing agency is an important step of getting the right wholesale product at the right price, of the right quality, and at the right time.
What is the benefit of hiring a Sourcing Agency in Korea?
The benefit of hiring a sourcing agency in Korea is that they know the ins and outs of the region.
When it comes to finding Suppliers in Korea, there is significant expertise required because, as an industrial nation; there are all kinds of suppliers and wholesale manufacturers, so a sourcing agency in Korea has to provide you accurate information. So a quality procurement service has to provide you with the following services
1. Help find you credible suppliers at the best price
Finding a supplier in a saturated market with hundreds of vendors can be incredibly tough. So a procurement service helps you out since they have a dynamic Korean manufacturers directory so they can pick and choose the right supplier for you.
Remember that not every supplier of a single product in Korean marketplaces can handle major demands. While others are not good at quality control. So the screening process can be tough for you to carry out alone.
Even if the procurement service does not know the exact service that offers the product you want, they have sufficient contacts and can conduct thorough research to get you to the ideal supplier of wholesale from Korea.
2. Help Create Realistic Expectations and Reduce the Cultural Gap
What often tends to happen with buyers engaging with Korean suppliers is that there are unrealistic expectations and unclear communication between the parties. Although both the parties have the best of intentions, too much is lost in translation. That is where a procurement service becomes effective.
They have the necessary local expertise so that even the supplier can trust their intentions but they also keep the concerns of the manufacturers in mind.
A quality agency ensures all the requirements are written by the buyer and then fulfilled by the supplier. This alone creates the right mindset for both parties.
3.Lower the Overall Risk of Business
When you choose to outsource a product from the Korean market, it is no doubt a risk. There is the risk of whether it would be of the quality you want, would it be at the right price and most importantly would it be of the perfect quality.
A sourcing agency does the heavy lifting when it comes to ensuring these qualities for your business. They save you all the expensive trips as you visit all the factories and try to ensure that the quality is up to the mark. And they often have hundreds of testimonials of similar clients like you that show their quality.
Finding a quality sourcing agency for any Korean product is in itself a task. There are many names on the market and as it stands there is no sourcing agent to find sourcing agents! So most of the research has to be done by you. Having said all that, one name that you will hear frequently KR SOURCING.
KR SOURCING is one of the best sourcing agencies in Korea and provides quality procurement services at an exceptional price.
For finding the best manufacturer of a particular brand or product, KR sourcing is your best fit. We will help you find the supplier that makes your product in the quality of your choice while getting you the price that you want for it too.
Besides this, if there are multiple suppliers on the market, we make your life easier by listing, distinguishing, and screening all the suppliers involved to find the correct one for you that matches your needs.
Why Choose KR SOURCING?
Here are a few of the reasons why you should choose KRSourcing whenever you need procurement services in Korea.
If you pick KRSourcing, you can get a free consultation for our product sourcing service. It will help you find the one and the only best manufacturer for your product and with the best quality and price.
Follow up after production:
Once you have found the product of your choice, we will not leave you unattended. For making sure that everything is produced up to the mark, KRSourcing offers you the services of sourcing agents that can connect with the manufacturers with only a minimal service fee. These sourcing agents will be your eyes and ears on sites so that you can rest with ease, knowing someone is looking out for your interests.
We are well recited when it comes to the Korean marketplace. We know all about the top products produced here and their suppliers. So when you talk to us, we try to instill in you our knowledge regarding the Korean market so that you can understand it and then implement it in your business. So even before you outsource your task to a Korean supplier, you can talk to us to research the market for you and we will be happy to help.
Our agent will collect the samples from various suppliers that you may like, and then you can make the right decision by choosing the product that best fulfils your requirements. This helps you filter all the suppliers without having to handle all the logistics of visiting every single supplier separately at times convenient to them.
For any competent provider of procurement services in Korea or any Asian Market, local influence is of paramount importance. It gives you an edge over your competitors if you know the best suppliers for each product. That is exactly what KR Sourcing offers you as we are always maintaining the best of relationships with suppliers that matter in the products that our customers need.
We will be in constant communication with you throughout the whole process of screening the supplier, placing the order, tracking the progress and then following up. Every step of the way you will be provided with updates as though you are present on site.
Quality check and inspection:
If any problem occurs, you can negotiate with the supplier as we will send you inspection feedback.
How do we work?
Our entire process is extremely smooth. First and foremost, we find prospective suppliers for you based on the free consultation we have with you.
After that, we screen those suppliers by contacting them and finding all the relevant information. This includes their products, logistics information, prices, and other certificates and licenses.
We also order samples and prototypes that help us gauge the quality of the product. We also send you the samples so that you can make the final call.
Once the decision is made, we run background checks and visit the premises of the supplier, meet with them face to face and establish a rapport that can be central to a quality business relationship.
When the production finally begins we keep both parties in touch by keeping an eye on the supplier and informing the manufacturers regularly regarding the status of the product.
This two-way communication is why we are successful and have allowed us to develop a footprint with quality suppliers in Korea and medium-sized companies and startups all across the world.
It is a wise step to get quality products sourced from reasonably priced markets in order to grow your business. But to combat trust deficit and finding the best supplier, you need a quality procurement service to help you out.
That is what KR Sourcing provides you. We have a complete understanding of the Korean market and will always get you the best supplier for your needs so that you get the Korean product that can make your business flourish.