Nigerian grows SME in Seoul, links Korean technology with local market
Text by A Nigerian, Eedee Saro Goneh from Ogoniland in Rivers State has developed a business, K-Trader where he links up market opportunities in Nigeria to advanced technologies and expertise in South Korea. Upon graduating from the University of Port Harcourt, where he read Human Physiology, Goneh moved to Korea Republic through a Korean university scholarship and underwent another degree programme in Global Business in Hannam University. 27-year old Goneh, who is now moving unto to a Master’s degree in Technology Management told
in Seoul that he co-founded the Koraen-based enterprise to identify market opportunities and large development projects in Nigeria. Excerpts: ow did you come to Korea, was it for business purpose?
I was curious about the Korean education system and their emergence onto the global scene. I read some articles about Korea and I was really impressed with the country’s literacy levels and University participation rate, which is the highest in the world. Then, I saw that University scholarship opportunities were available in Korea so I applied for a place at the Linton School of Global Business in Hannam University.
How long have you been in Korea and what is the experience like with regards to integration?
I have been in Korea for some years now. Initially living in Korea was difficult because the food is very different, I missed my family and I had to try and learn the local language quickly. However, Korean people are curious about Nigeria so I was able to explain about our country and what we have to offer the world and this helped me to make friends and adapt to life in Korea.
What motivated you to venture into the Korean business?
While working and studying in Korea, I was impressed with the technology and business approaches used in Korea and I thought that their products and services could be exported and used in Nigeria to support our country’s accelerating commercial development.
How did you establish your K-trader company in Korea?
At the moment, the Korean government is offering a lot of incentives and support for those wishing to start enterprises for International Trade. I was already in the process of starting my own company when I caught sight of these programmes and then I was able to leverage them to accelerate the growth of our operations.
What is your mission to improving Korea-Nigeria business deals?
We felt that now is Nigeria’s time to lead the West Africa region towards greater prosperity and that we could contribute to that using the experience Korean companies have from working on big projects in the Middle East, South East Asia and the U.S. For example, most people are unaware that the tallest building in the world in Dubai, the iconic
HIBRAHIM KABIRU SULE, SEOUL @ikabirsule Petronas Towers in Malaysia and other skyscrapers were all built by Korean companies. So, I believe that Korea has the ability to also deliver and participate in large-scale energy, construction and infrastructure projects here in Nigeria.
Is your business enterprise a registered entity with Korean government?
In order to ensure we did not hit any administrative barriers we made sure to register with all the Government bodies in Korea. So, we started off by getting an official tax registration number and Local Government operation approval. Then, we registered with The Korean Trade-Investment Promotion Agency (KOTRA). This will allow us to participate in International Trade Fairs and Government Trade Missions to increase our profile further.
How long has the company been in existence?
Our company has only been operating for a few years now so we are still in the early stages. We are growing fast so we hope we can continue on this path successfully. I co-founded the company with my former University Professor, Dr. Nigel Callinan, from Ireland. We were chosen by the Korean Government as a high potential enterprise and we were awarded office space in the International Finance Centre in Seoul’s business hub.
What is the staff strength of the company and how many nationals?
We have seven (7) people at the moment including Nigerians, Koreans, U.S and Irish nationals.
Do you think Nigerians are utilizing the economic prospect of Korea?
Yes, we have a network of successful Nigerians here in Korea now working for big multinational corporations like Samsung, Hyundai and LG. Some of them are working directly with us and others provide us with consulting and networking services.
Were you involved in the execution of any project in Nigeria so far?
Yes, for example we provided consulting services to the Enugu State Government when they were working on a solar plant project and also when they wanted to find a Korean steel company who were interested in a joint venture.
How do you intend to link Nigerian We started off by getting an official tax registration
number and Local Government operation approval. Then, we registered with The Korean Trade-Investment Promotion Agency (KOTRA). This will allow us to participate in International Trade Fairs and Government Trade Missions to increase
our profile further. market with Korea?
We think that the key sector in Nigeria is infrastructure. When Nigeria has excellent Internet connections, efficient power production to meet growing demand and transport connections, our excellent businesses will be able to find new opportunities. Korea has the fastest Internet connections, the best mobile technology and world- class transport systems. We believe we can transfer this technology initially to Nigeria and then to the greater West African region.
What is your advice to Nigerian youth about exploring foreign countries?
I would advise Nigerian youth to study and learn about countries in East Asia and South America and to watch out for scholarship and study abroad opportunities. New regional powerhouses are emerging outside of Europe and North America and we Nigerians need to partner with them to find new markets for our businesses and use the excellent human capital we have at our disposal all over Nigeria. In our country, we have young people with the talent, vision, work ethic and determination to make great things happen.