Making an international partnership work

The video discusses a business venture in Korea, focusing on the importance of having a physical presence in a saturated market like mobile phone accessories. It highlights the formation of a joint venture, owning 75% of the business, and achieving a turnover of $3 million. The speaker emphasizes the need for trust and authenticity in business relationships, which are crucial for addressing challenges. Regular visits to Korea help maintain these relationships and transfer the core business culture. The venture has enabled the company to explore new technologies like the Internet of Things, Wi-Fi, and Bluetooth.

What was the primary reason for establishing a presence in Korea?

How did the business manage to penetrate the saturated mobile phone accessories market?

What percentage of the business do they own?

What role does trust play in business relationships according to the text?

Describe the importance of maintaining relationships in the context of the business discussed.