Rencol Tolerance Rings appoints Korean agent

31st October 2007
Source: Rencol
Posted By : ES Admin
Rencol Tolerance Rings appoints Korean agent
Rencol has appointed DAERYUK CORPORATION as its Korean agent. The appointment, which was made on July 1st supports the fact that tolerance rings are fast becoming an established technology in markets around the globe.
Commenting on the appointment Alan Holcombe, Sales and Marketing Director at Rencol said, “South Korea has many well known manufacturers in the automotive, domestic appliance and Hard Disk Drive (HDD) markets. The market is very sophisticated and is similar to a Western market where the value of a high quality product and particularly the benefits of the tolerance ring are appreciated.”

Rencol had been handling its business in South Korea through its Singapore office but recognized the need to build on the success it had achieved in the country through direct representation. DAERYUK was introduced to Rencol through the OMIS (Overseas Market Introductory Service) which, working with the British Embassy in Korea, produced a short list of four possible agents.

The main reasons for DAERYUK’s appointment was the fact that they offer a broad range of coverage and are familiar with the role of an agent working with overseas partners. The company is well-established and can boast names such as Hyundai, KIA and Daewoo amongst its existing customers.

When announcing the appointment Alan Holcombe stated, “We are really looking forward to working with DAERYUK as we have a similar company culture to them and are impressed with both their professionalism and their ambition. The process of appointing a Korean agent has taken eight months but the negotiations were fun and conducted in a friendly manner.”

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