Man international partnership work

The video discusses a business venture in Korea, focusing on the mobile phone accessories market. It highlights the importance of having a physical presence in a saturated market and forming a joint venture to transfer technology. The business now generates $3 million and employs a few people. Trust and authenticity are crucial for success, and maintaining relationships through regular visits is essential. The venture has enabled the company to explore new technologies like IoT, Wi-Fi, and Bluetooth.

What initial steps were taken to enter the Korean market?

• Opening a new office

• Hiring local employees

• Attending trade exhibitions and forming partnerships

• Launching a marketing campaign

What percentage of the joint venture does the company own?

• 50%

• 75%

• 60%

• 80%

What is the annual turnover of the business in Korea?

• 1 million USD

• 3 million USD

• 2 million USD

• 4 million USD

Why is frequent travel to Korea considered essential?

• To explore new markets

• To maintain relationships and transfer company culture

• To reduce operational costs

• To hire new employees

What technological advancements have been integrated into the product line?

• Augmented Reality

• Artificial Intelligence

• Blockchain

• Wi-Fi and Bluetooth technology