Dongbang B&H &nbsp; Signed an MOU to establish a joint venture in Uzbekistan <br>"Industry attention as a case of overcoming the crisis through bold investment and direct entry into the local market" <br>Founded in 1986, Dongbang B&H (co-presidents Kim Tae-hee and Lee Sang-up) has been making bold investments and aggressive management to launch about 10 cosmetics-grade premium eco-friendly detergents through ODM over the past year, despite the deterioration of various economic indicators. In March this year, the company upgraded its quality management system by obtaining ISO cGMP (22716) certification, and it has continued its aggressive management by more than doubling its production facilities. <br> <br>★Aggressive strategy to overcome the crisis by developing overseas markets for small and medium-sized enterprises in the midst of economic crisis <br>&nbsp;On July 13, Dongbang B&H signed an MOU with LEE BUILD TRADING (an overseas private network in Uzbekistan designated as a medium-sized enterprise, representative: Lee Chung-koo) and VOKHIDJON (a local joint venture in Uzbekistan) to establish a joint venture to operate cosmetics (hair care, body care) and household products (soap, detergent, toothbrush). <br>&nbsp;This was made possible through the active initiative of Mr. Lee Chung-koo, representative of the Overseas Private Network of the Korea Small and Medium Business Corporation. According to the MOU, Dongbang B&H will build production facilities in Uzbekistan under the leadership of Dongbang B&H and transfer the production technology and know-how of Dongbang B&H to produce excellent products and attack the local market. This will secure excellent production bases in Central Asia such as Uzbekistan and Kazakhstan, CIS countries such as Ukraine and Azerbaijan, and Russia, and is expected to become an exemplary model of export strategy in the economic crisis. <br> <br>★Customized entry strategy to CIS countries emerging as a new market ensures high probability of success <br> <br>In September 2017, Dongbang B&H conducted detailed market research for over a week with Lee Chung-koo, CEO of the Korea Overseas Private Network. Before the trip, they prepared a basic business plan, and based on the data, they went to the local market to check the investment risk by meeting with investors, embassies, and Kotra, and then conducted market research and seller meetings in every corner. <br>As a result of the research, we saw the growth potential of the CIS countries with an annual economic growth rate of more than 6%, and considering the positive aspects of economic policies such as high tariffs on imports and foreign exchange liberalization by the new government, we established a strategy to maintain price and quality competitiveness by establishing a local factory instead of exporting finished products, securing a factory site in line with the new government's policy to encourage foreign invested companies, developing products with high cost-effectiveness, and using an export strategy through a favorable logistics environment in neighboring Russia and the CIS countries. <br>The industry is paying attention to whether this project will be a success story of a small and medium-sized company in the midst of the economic crisis.