Submitted by: Submitted by KONDAWG
Views: 370
Words: 1404
Pages: 6
Category: Business and Industry
Date Submitted: 04/16/2012 08:37 PM
1. What do you export?
Natural health supplements such as Omega-3 capsules, Propolis, Honey and also sheep skin accessories such as duvets and slippers.
2. What prompted your business to export, to which countries and why?
The demand for New Zealand made health supplements is very popular in South Korea. 10 years ago, my husband was a tour guide driving Korean tourists from Auckland to Rotorua twice a week. The tourists always wanted to be dropped off at a souvenir shop to buy huge amounts of lotions, sheep skin, and capsules as gifts for family and friends when they return.
With technology evolving rapidly over the past decade, we can now sell to customers in South Korea by just going onto the internet.
I believe the ‘Clean, Green’ image of New Zealand is very beneficial to this trade. I am now running an online shopping site targeted at Koreans, selling health supplements. More recently, we have received orders from China and Thailand.
3. How does the government affect your international business decisions?
There is a tariff for exporting most health supplements into South Korea which is 8% and also current Value Added Tax rate is 10%. The Value Added Tax is charged on most imported goods. More recently, there was a trade agreement signed between South Korea and New Zealand which will see cargo processed more swiftly by the Korean Customs Service but if I remember correctly, it won’t come into effect until next year.
4. How do you select which foreign countries you do business with?
New Zealand health supplements are very popular throughout Asia. My first language was Korean; I also studied a bit of Chinese in university. Most of our customers are in South Korea but we do occasionally get customers from China, Thailand, and Malaysia. Being able to speak more than one language helped a lot in diversifying our consumer base. I believe that the ageing population in South Korea is playing a significant part in the ‘well-being craze’,...