Overseas Market Research Case 8: Korea International Trading Bangladesh Industrial Chemical Importer Discovery
Korea International Trading (formerly 코리아디스플레이 International) is one of South Korea's largest general trading companies, sourcing chemicals, energy, and raw materials across global markets. Overseas Market Research Case 8, commissioned to the KOTRA Dhaka Trade Office in March 2025, was a project to identify contact information for importers of industrial chemical raw materials (HS 2901–2942) in Bangladesh. Given the nature of a general trading company, verifying each importer's transaction capability and track record was more critical than simply compiling a contact list.
Bangladesh's chemical raw material import market is valued at approximately USD 1.5 billion annually, dominated by dyestuffs and processing chemicals for the RMG garment industry, along with plastics, paints, and pharmaceutical precursors. Korean-origin chemicals hold roughly 5–8% of total chemical imports into Bangladesh, benefiting from a strong quality reputation.
Research Background and the Bangladesh Chemical Raw Material Market
Bangladesh's chemical raw material market has expanded in tandem with the explosive growth of the RMG industry. Key import categories include dyestuffs and finishing chemicals for garment processing, plastics (PE, PP, PET), coatings, and adhesives. Bangladesh sources the majority of these chemicals from China (40%), India (25%), and South Korea (8%), with Korean-origin products maintaining a quality-premium position.
| Item | Details |
|---|---|
| Client | Korea International Trading (formerly 코리아디스플레이 International), Chemical Division |
| Target Products | Industrial organic chemicals (HS Chapter 29, HS 2901–2942) |
| Required Firms | 10–20 importers; priority on annual imports above USD 1 million |
| Required Information | Company name, CEO, phone, email, key products, annual import value |
| Special Requirements | Prior Korean-origin experience; credit rating if available |
| Research Lead | Rahman (KOTRA Dhaka Trade Office local marketer) |
| Deadline | Within 21 days from 17 March 2025 |
Three-Phase Verification Methodology: DB → Phone → On-Site
Research Results and Follow-up Outcomes
KOTRA Overseas Market Research Service Overview (2025)
The KOTRA Dhaka Trade Office conducted more than 31 overseas market research projects in 2025 alone. The service falls into five main types: potential buyer discovery, importer contact identification, unpaid receivables investigation, item-specific market analysis, and customized support services. Clients range from SMEs to large corporations such as Korea International Trading.
| Type | Description | Timeline | Cost Level | Typical Clients |
|---|---|---|---|---|
| Potential Buyer Discovery | Identify local buyers for a specific product category | 14–21 days | Moderate | SME exporters |
| Importer Contact Identification | Compile importers by HS code with contact details | 21 days | Moderate | Trading companies / manufacturers |
| Unpaid Receivables Investigation | Locate buyers, verify status, assess repayment intent | 14 days | High | Firms with unrecovered receivables |
| Item-Specific Market Analysis | Market size, competitors, distribution structure | 30–45 days | High | New market entrants |
| Customized Support | OEM partner search, tariff response, special mandates | Negotiable | Premium | Strategic research needs |
Korea International Trading Case 8 is a successful example of a general trading company's systematic buyer discovery needs combined with the KOTRA Dhaka Trade Office's three-phase verification methodology. The process — narrowing 50 initial candidates to 15 verified firms and converting the output into 5 buyer meetings — serves as a reference model for any company evaluating entry into the Bangladesh industrial chemical market. The true value lies not in the contact list itself, but in the rigorous process that identifies "transaction-ready" counterparts.
Overseas market research for a general trading company is fundamentally different from a simple contact directory. As Korea International Trading Case 8 demonstrates, the real value is in the verification process that filters for "transaction-ready counterparts." The three-phase model — database screening, phone confirmation, and on-site visits — is especially critical in markets like Bangladesh, where the informal economy is significant. Failing to screen out fictitious addresses, shell companies, and small-scale middlemen compounds downstream costs and risks. This is precisely why the KOTRA Dhaka Trade Office's three-phase verification delivers value not just for trading companies but for SME exporters as well. If you are evaluating entry into the Bangladesh industrial chemical market, the KOTRA Dhaka overseas market research service is a practical first step.