Business Development Services

IRC Consulting is a business development consultancy supporting global organizations to identify and capitalize on opportunities in the Korean market.

Opportunity Identification

  • IRC Consulting seeks out current and emerging opportunities on behalf of our clients
  • Clients can obtain a practical assessment of these opportunities to understand their feasibility, attractiveness and probability for success
  • An analysis of the market landscape is provided (size, growth, developments, degree of concentration, major players, unmet needs)
  • Alternative strategies for capitalizing on the opportunities are developed

Strategy Development

  • Opportunities and companies are all unique.  The market entry strategy in each situation must be customized for the specific circumstances based on the market needs and the client’s capabilities, financial, technically and often most critically, in terms of management resources.
  • Strategies are a trade-off among:

Arms-length trading through 3rd party importer / distributor    :      Invested sales and distribution entity
Greenfield – starting a new operation     :     Acquisition – acquiring ongoing operation
Joint venture – partnering     :     Independent – wholly owned operation

Partner Search

  • Potential partners are identified through a systematic search of companies that fit the target profile.  The target profile is based on the client’s needs and objectives blended with IRC’s knowledge of local culture and expectations.
  • Companies are carefully assessed and prioritized initially through secondary sources but ultimately by direct interaction with target company executives.  Company profiles are populated and refined continuously throughout the search process.
  • IRC partners with the client to promote the relationship and develop an outcome that is beneficial to all parties.

Market Entry Implementation

IRC supports its clients with the practicalities of becoming established in Korea.

  • Contracts: IRC works with designated attorneys to verify that contracts reflect the agreed terms of cooperation with local parties.
  • Incorporation & legal procedures:  Ensuring that the proper legal registration has been duly submitted and required reports submitted to the authorities.
  • Personnel:  Search firms are engaged and potential personnel screened to ensure that the core team of managers is in place.
  • Facilities: IRC liaises with local vendors to secure facilities that are required

Selected Projects References

  • Client: Cosmetics Ingredients Manufacturer
  • Project: Ongoing communication with Korean counterparts
  • Completion: October 2017
  • Client: Scottish Salmon supplier
  • Project: Market scan of the Korean market for chilled salmon
  • Completion: August 2017
  • Client: UNDP, USC
  • Project: Korea’s Waste Recycling Program and Lessons Learned
  • Completion: December 2016
  • Client: Dutch Pipe Trading company
  • Project: Establishing a branch in Korea
  • Completion: November 2016
  • Client: French beverage manufacturer
  • Project: Identification & negotiation manufacturing license of sports drink
  • Completion: October 2016
  • Client: US Consumer Credit Information company
  • Project: Investigating credit information opportunities, negotiating equity participation in local player Relations with Joint Venture partner
  • Completion: August 2016
  • Client: European Pizza dough and crust manufacturer
  • Project: investigating demand for frozen pizza dough and crusts
  • Completion: July 2016
  • Client: Canadian Embassy Seoul
  • Project: Clean Energy in Korea
  • Completion: March 2016
  • Client: Cosmetics Ingredients Manufacturer
  • Project: Due diligence of toll manufacturing partner
  • Completion: October 2015
  • Client: Web Accessibility Company
  • Project: Search for Representative to sell services in Korea
  • Completion: October 2015
  • Client: Deer velvet supplier
  • Project: Opportunities for deer velvet in functional foods
  • Completion: October 2013, June 2015
  • Client: European Greenhouse Equipment company
  • Project: Establishing a Branch in Korea
  • Completion: July 2015
  • Client: European Chemical company
  • Project: Distributor Search & Market Map for Nylon Compounds
  • Completion: March 2015
  • Client: Canadian Canola Council
  • Project: Consumer Usage and Attitudes Towards Cooking Oil
  • Completion: March 2015
  • Client: Swiss Business Hub Korea
  • Project: Potential for Swiss SMEs in the Korean Auto Parts Industry
  • Completion: October 2014
  • Client: UKTI
  • Project: Growth Engines for the Future
  • Completion: August 2014
  • Client: UK Multinational
  • Project: Feasibility Study, Demand for Shipbuilding / Offshore Services & Feasibility for Establishing an Office in Korea
  • Completion: May 2014
  • Client: Global HR Recruiting and Staffing Company
  • Project: Identification of Acquisition Targets in Korea
  • Completion: March 2014
  • Client: Medical Equipment material supplier
  • Project: Medical Devices and Materials in Korea
  • Completion: March 2014
  • Client: French industrial consumable manufacturer
  • Project: Commercial Due Diligence of Joint Venture Partner
  • Completion: August 2013, March 2014
  • Client: Semiconductor production equipment manufacturer
  • Project: Identification & evaluation of acquisition targets
  • Completion: November 2013
  • Client: Washington State Department of Agriculture
  • Project: Export promotion program
    • Preparing Washington SME exporters to export to Korea
    • Recruiting buying mission to Washington
  • Completion: September 2013
  • Client: UK Marine Equipment Supplier
  • Project: Negotiating Joint Venture for local Sales & Manufacturing
  • Completion: August 2013
  • Client: Scottish Development International
  • Project: Oil & Gas / Subsea Education and Training in Korea
  • Completion: August 2013
  • Client: Swiss supplier of current and voltage transducers
  • Project: Establishing a local entity & hiring a general manager
  • Completion: April 2013
  • Client: State of Georgia, Department of Economic Development
  • Project: Medical equipment focused trade mission to Korea, matchmaking with Korean companies
  • Completion: April 2013
  • Client: Agriculture & Agri-Foods Canada
  • Project: Korea Soy Bean Market Assessment
  • Completion: April 2013
  • Client: State of Washington, Department of Commerce
  • Project: Life Science focused trade mission to Korea, matchmaking with Korean companies
  • Completion: October 2012
  • Client: State of New York, Empire State Development
  • Project: Engineering construction trade mission to Korea, Introduction to EPCs
  • Completion: October 2012
  • Client: European Child Transport Equipment Company
  • Project: Market entry, Incorporation, Staff Search, Logistics Planning
  • Completion: June 2012
  • Client: Bangladesh & World Bank Infrastructure Development Consortium
  • Project: Mission to Korea to observe infrastructure projects, meet EPC companies and solicit investors
  • Completion: June 2012
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