KITA survey finds buyer discovery biggest challenge for exporters at 70.3%

  • KITA found 70.3% of exporters cited overseas buyer discovery as their biggest challenge.
  • 71.2% prioritized securing buyers with strong purchasing power and transaction potential.
  • The United States led three-year expansion targets, while UAE and Saudi Arabia ranked fifth and tenth.

Finding overseas buyers and trading partners was the main obstacle for South Korean small and mid-sized exporters, cited by 70.3% of respondents in a Korea International Trade Association (KITA) survey of 1,090 companies released on the 20th. Small businesses made up 93.2% of respondents, compared with 5.6% for mid-sized companies and 1.2% for large corporations. Respondents also identified limited overseas marketing capabilities at 56.5%, funding and financing difficulties at 39.3%, and regulatory requirements such as overseas certification and customs clearance at 32.5%. The most requested support was identifying and vetting promising buyers at 54.3%, followed by connections with local distributors and agents at 41.2%, one-on-one buyer consultations and matching at 39.8%, and overseas trade-show participation at 34.9%. A larger 71.2% said marketing programs should prioritize buyers with strong purchasing power and high transaction potential, reflecting demand for counterparts screened beyond basic networking contacts. The United States was the leading target for market entry or export expansion over the next three years at 51.7%, followed by Japan, China and Vietnam. The United Arab Emirates ranked fifth at 19.3% and Saudi Arabia 10th at 15.0%, well above their positions in South Korea's January-through-August export rankings of 26th and 32nd, respectively. KITA plans to incorporate the findings into regional programs and connect exhibitions and business-matching events with TradeKorea and the Global Matching Center.

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