Story of the Month

Luxtech

  • Jeong-Hyun Hwang / CEO
    [ Korea ]
  • Categories: Musical Instrument

Success Story of Luxtech

[Please briefly introduce your company.]

Hello. I am Jeong-hyun Hwang, the CEO of LuxTech.
LuxTech is an educational musical instrument manufacturer. We have been providing our instruments, such as recorders, tambourines and xylophones, to major domestic companies for over 3 decades.
Although a specialized manufacturer, we haven’t sold overseas. Promotion was one of our major obstacles.

Then, one day in 2019, LuxTech was chosen to receive global e-commerce export support from the Chungcheongnam-do Economic Promotion Agency.
In 2019, we first registered our products at www.ec21.com and began sending business proposals to foreign buyers.


[Please let us know what kind of activities you have been implementing.]

In 2019, we first registered our products at www.ec21.com and began sending business proposals to foreign buyers.
Once products are registered in the online market place, they can be promoted to the entire world. That is why we registered and meticulously produced product information.
Based on such preparation, we began to close deals. Now, we're focusing on dispatching samples around the world.


[Can you share your company’s export and trade performances?]

In 2019, we focused on keeping in touch with existing foreign buyers, responding to their requests and inquiries. As a result, we were able to export approximately $100,000 to the UK and the US. We have also maintained active sales efforts by, for instance, sharing product samples based on catalogs and websites in which overseas buyers may be interested.

As a result, we exported $13,000 to the US and European countries in 2019 and $180,000 to the same regions in 2020. Initially, our marketing activities mainly focused on the US, then gradually expanded into Europe.
Additionally, we attracted a Spanish buyer at EC21 in November 2019 and have kept in touch with the company since. We are planning to export products to the Spanish buyer at the end of this year. Before closing the deal for export, we maintained our communication with the company for about a year.

I believe that it takes a lot of time and effort to export products to foreign buyers.
Also, actively responding to every inquiry of the buyers, large or small, was key to our success.


[What are your favorite features or functions of premium services?]

If you register your products at EC21.com, your products will feature at the top of the search list during the support period (about a year). Even after completion of the support period, your products can be searched online, which I found very useful.
If you want to search for a new buyer, you can use keywords in the menu of “Global Buyer Directory.” Then you can find buyers in a specific country that you want to look for.


[Do you have any comments that you would like to share with other exporting SMEs?]

I believe that building trust with potential buyers based on continuous communication is most important. Even if at first those buyers are not interested in your company, you need to persist in updating your products and sharing with potential buyers. For me, it took some time to earn buyers’ interests.
In short, you need patience if you wish to successfully export.

I hope all of you take time to respond to your potential buyers.
Also, a specialized team to rapidly responding to buyer inquires and continuous communication thereafter are essential.

I wish you success in all your future endeavors. Thank you.

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