Korean Job Discussion Forums

[uberscheisse]

i want to pick a few peoples' brains about perhaps starting to export a few korean items to canada.

does anyone do this? i know there's a few people on this board that are not english teachers and know the ins/outs of korean business and perhaps its influence on my E2 status.

i think both jongnoguru and wangja have something to this effect in their sigs - knowing about bid-ness... anyone else?

[mindmetoo]

[Grotto]

Every year I go back to Canada I take with me a few thousand beads and baubles, tiger eyes, jade, onyx, carnelian etc. Once home I sell it for a markup of about 500- 2000%

For example I bought some cool buddhist rings for 2.40$ each...I sell them back in Canada for 25$ My net profit is 22$ shall we say. Last year I brought back 50 rings and sold them all in a week. Same for bracelets and whatnot. Cost here 4-10$ sell them in Canada for 35-60$ Last year I brought back 100 bracelets...sold them all for a little over 3500$ my cost about 700$. Every year I go home I take back some things that I know I cannot find back home and every year I make some nice pocket change.

As for an export licence...not a clue.

[poker player]

Importing products to Canada from any country is not an easy thing to do for the 1st timer. If you want to export products to canada, I'm assuming you are buying from an established Korean company(s). I'm also assuming you want to resell those products in Canada. Make them responsible for the export paperwork that is required for Korean govt agencies otherwise you will get yourself in a quagmire of red tape in a language and administrative system you don't understand. Also, make them responsible for shipping, once YOU have chosen the method of shipment (that way you can control costs but make them responsible for doing the heavy lifting of paaperwork). In order to do all this, you get the pricing FOB the Canadian port of entry. Depending upon the value of the shipment, they will want cash up front or more preferable for you, a letter of credit from your bank which basically guarantees payment to them once the products are shipped. You will also need to get a customs broker in Canada involved to accept shipment and hold the goods in bond if need be.
The biggest headaches will come once you get the products to Canada. There are numerous things you have to worry about there. The first thing is you must have a license that allows you to import products to Canada. Then they have to determine the category the product fits into so they can apply duties and /or taxes. Then you must comply with certain standards depending on the products. Eg-electrical or safety standards, health and food standards, labelling in French and English etc. Forget about importing anything that could be considered a pharmaceutical or alcohol. Then you have to decide how you are going to sell the products. If you do it yourself, it may be time consuming and costly and if you use a distributor, you have to worry about them going to the manufacturer and importing directly, bypassing you in future if it turns out to be a successful product.
You can get info on the canadian side of things on the internet by searching for govt of Canada import regulations and there are several links from there that will give you the info after you do some digging. I know this sounds pessimistic but I can tell you from first hand experience, it is a lot of work but the rewards may make it worthwhile.
Good luck

[poker player]

[Grotto]

I usually pick up the bracelets and rings at a buddhist supply store. These are the wholesalers who supply all the local temples and tourist traps.

A bracelet that costs 20,000 won at a temple or in Insadong usually goes there for about 4-8K. They also have gemstone quality at these stores and not the cheap knockoffs some of the touristy places have. My favorite place is out in Gangnueng...I go I hang out at the beach, go for a swim, have some fun and stock up.

when I go through customs I tell them that some are gifts for friends and family and that the jewelry makes a great pick up line in a bar

[uberscheisse]

hey guys, thanks for the tips. i shall take them under advisement.

the items i'm planning on exporting are a few suits.

i am not in a position to be going to hoi an, vietnam every other month... wanted to try and find a seamstress/seamster who would agree to make 10-20 suits for my friend's clothing company back home for a pittance.

in the end it'll probably be hella easier to do it through vietnam. my suits from hoi an were only 35 bucks. the seamstress he gets them from in vancouver charges 200.

it's pretty dastardly math and i like money.

[lunalilo]