Success Story

Step into the world of Juan Juwon Sul, the visionary CEO driving the success of LATIDA,
a fruit and food importing and distributing powerhouse in Korea.

With roots tracing back to his upbringing in Chile,
Juan brings a unique perspective and a wealth of experience to the table.

Juan unveils the journey that led him to the forefront of Korea's import industry,
offering invaluable lessons for aspiring entrepreneurs.

Q. Please introduce your company.

LATIDA, short for La Tierra Prometida (The Promised Land), is committed to building a sustainable trading system that benefits growers, exporters, and importers alike. Rather than simply facilitating transactions, we empower our exporters with market insights and years of sales data for the target product, ensuring a shared understanding and seamless collaboration.

Recognizing the untapped potential in importing fruits and vegetables from Latin America, LATIDA saw an opportunity in bridging the gap between the limited number of ROK importers and the strong interest from LAC exporters in entering the ROK market.

Since its inception in 2021, LATIDA has forged strategic partnerships with key players in Korea, including Starbucks, Coupang, and Baemin.

Q. How has your company’s trade experience with Central America been?

LATIDA has been importing a diverse range of fruit, animal, and vegetable products from Latin America and the Caribbean, with a particular emphasis on fruits such as bananas and pineapples.

Regarding bananas, the ROK market had traditionally been dominated by products from the Philippines, which accounted for 99% of the market share until recently. However, ROK consumers have increasingly recognized the exceptional quality of bananas from the LAC region. This shift has allowed Latin America and the Caribbean to establish a strong foothold, capturing approximately 30% of the market. Many clients now exclusively seek bananas from LAC, citing their superior taste—sweeter and less bitter when not fully ripened.

In 2022 and 2023, LATIDA successfully imported a total of 300 containers of bananas, primarily sourced from Colombia. Additionally, LATIDA imported 4 containers of pineapples from Panama in 2022.

Q. What are the factors you consider important when identifying potential suppliers or exporters?

The creditworthiness of a supplier and the reliability of their product quality are the foremost criteria when selecting a partner. At LATIDA, we prefer to be introduced to new suppliers through trusted existing partners and conduct thorough due diligence to assess the reputation and credibility of potential suppliers. Moreover, we recognize that international business thrives on strong relationships, and fostering genuine connections and trust is essential for establishing long-term, successful partnerships.

Q. Have you received any external support when exporting Central American products?

From trade promotion agencies in Latin America, such as Embassy of Guatemala, ProColombia, PromPeru, LATIDA received budgetary support for the trips to the region, particularly for flights and accommodations costs. Also, LATIDA received invitations to participate in their online and offline trade expo and exhibition events.

Q. What challenges have you faced when importing products from Central America to Korea?

The most significant challenge in importing fruit lies in the long transit time from Central America to the Republic of Korea. Even the shortest route takes at least 23 days, with potential delays due to various factors, such as extreme drought in Panama and the reduced number of daily ship transits through the Panama Canal.

Given that quality inspections typically occur about a month after shipment, any issues that arise can take a considerable amount of time to resolve. Therefore, it is crucial to work with the right partner who can ensure the integrity of the entire export process and maintain consistent product quality.

Q. Given the current banana and pineapple market situation in Korea and Central America, how do you foresee supply and demand trends in the short term?

Bananas from Latin America are anticipated to gradually increase in volume, despite a potential dip in 2024 due to the reduced transit times at the Panama Canal. In early 2024, shipping lines such as Maersk temporarily suspended routes passing through the canal, causing producers on the Atlantic side to miss the peak consumption season in Korea, which runs from February to May. However, if the upcoming rainy season can restore conditions to pre-drought levels, it is expected that imports from Latin America to Korea will steadily rise in the near future.

Regarding pineapples, one of the main challenges lies in the rotting of the crown area, which remains a significant risk when importing pineapples from Central America. Unless a new product or packaging solution is developed to extend the shelf life of pineapples, it may become increasingly difficult to maintain a steady supply of pineapples from Latin America to Korea due to the long distance and potential spoilage.

Q. Do you have any advice for Central American companies looking to export to Korea?

Korea is a very picky market with a strict quality standard, where maintaining consistent product quality is of paramount importance. Although it presents challenges for businesses, it also offers substantial rewards for those who succeed in building a strong brand reputation. Companies that can meet these high expectations are well-positioned to thrive in this competitive market.

Contact Information

Explore the journey of Kyu-chin An, a trailblazer in the coffee import industry
and a key figure in fostering Korea-Guatemala trade relations.

As the CEO of EREZ Corporation, An brings a wealth of experience shaped
by 23 years of living in Guatemala as a coffee farm owner and cupper & roaster.

His commitment to introduce the quality and authenticity in Guatemalan coffee led him
to become the first Korean member of ANACAFÉ, the Guatemalan National Coffee Association,
where he earned a coffee cupping certification and honed his skills in coffee roasting.

Q. Please introduce your company.

EREZ Corporation has been connecting Korean buyers with exporters and suppliers of the high-quality green coffee beans from Guatemala since 2013. Every year, EREZ collects green beans samples from Guatemala’s major coffee farms and host public cupping sessions with five to nine Korean importers to ensure that only the best beans make their way to the ROK market. Generally, 5 to 9 importers jointly make purchases to transport the coffee beans in a container.

Q. Please introduce your company's trade experience with CA.

EREZ Corporation currently deals with green coffee beans from Guatemala only. The primary motivation for starting imports from Central America was the exceptional quality of Guatemalan coffee. Guatemala exclusively cultivates Arabica beans, and its coffee production history spans over 100 years. In contrast, Korea’s coffee culture is still relatively young, having developed over the past 20-30 years. I recognized a gap in the market for defining high-quality coffee in Korea, which led me to establish my company in 2013. By importing Guatemalan coffee, I aimed to introduce Korea to the rich, high-quality coffee that Guatemala is known for.

As green beans are an agricultural product, their taste can fluctuate from month to month. As a result, maintaining long-term contracts with the same suppliers is uncommon. Each transaction requires meticulous verification, involving coffee hunting and cupping. Given my coffee cupping certification from ANACAFÉ, I personally oversee the coffee hunting process to ensure quality.

In 2022, we imported three containers, one container in 2023, and plan to import five containers in 2024. Typically, a 20ft container holds 250 bags, valued at around 100 million KRW or about $76,000 USD.

Q. What are the factors you consider important when identifying potential suppliers or exporters?

I believe the most crucial aspect of identifying suppliers is having a local network. I usually get introduced to potential suppliers through associations like the Coffee Farmers Association. If there is an existing trusted relationship, it is relatively easy to get introductions; otherwise, finding new suppliers without connections can be challenging.

Q. What challenges have you faced when importing products from Central America to Korea?

Like all international trade, dealing with volatile foreign exchange rate is challenging as profits are affected by exchange rates. Sometimes, delayed payments can prevent the release of bills of lading. Additionally, the risk varies depending on whether the letter of credit is payable at sight or usance. Moreover, the distance between Korea and Central America make frequent visits difficult.

Q. Given the current coffee market situation in Korea and Central America, how do you foresee supply and demand trend in the short term?

I expect that the supply from Guatemala and the other five Central American countries will increase due to better pricing conditions following the K-CAFTA agreement. However, coffee prices are generally expected to rise for lack of supply. In Guatemala, for example, avocado farming is more profitable than coffee, leading some farmers to switch crops. Coffee cultivation is also highly sensitive to climate, requiring specific conditions. Thus, climate change is likely to impact the supply.

On the other hand, the demand for coffee in Korea is rapidly growing, with significant potential for further development. I personally predict a greater increase in demand for specialty coffee compared to regular coffee.

Contact Information

  • Company :  EREZ Corporation
  • Name :  Kyu-Chin An (CEO)
  • Email :  comoestaan@naver.com

Explore the journey of Angélica de Leon, the founder of Baretec Guatemala,
a company specializing in the responsible collection
and export of used lead-acid vehicle batteries.

With over a decade of experience in the industry,
she shares insights into her business journey,
trade experience with Korea, and the future of the market.

Q. Please introduce your company.

Baretec Guatemala specializes in the responsible collection of used lead-acid vehicle batteries. After inspection and packaging, we export these waste batteries to countries equipped with the appropriate technology for safe recycling, ensuring minimal environmental and health risks. This process not only contributes to the circular economy but also helps reduce environmental pollution in Guatemala.

Q. How did you start exporting this product to Korea?

While living in Korea with my husband, who is Korean, I became fascinated by the potential of the battery recycling business. We initially exported used lead-acid vehicle batteries from Korea to Guatemala. Initially, we exported used lead-acid batteries from Korea to Guatemala. However, unlike our current business, these batteries were not fully depleted; they had only been briefly used for testing.

When we returned to Guatemala, we imported them into Guatemala, but this business was short-lived due to high import tariffs and logistical costs, which made it financially unsustainable. Instead, I shifted my focus to exporting waste batteries to Korea. Since its founding in 2009, Baretec Guatemala has exported more than 65,000 tons of used lead-acid batteries for proper recycling in Korea.

Q. How has your company’s trade experience with Korea been? How did you find buyers and importers in Korea?

Korea has been our main trade partner for over a decade. Fortunately, even without an FTA, waste battery exports from Guatemala to Korea are tariff-free. However, I hope that the K-CAFTA agreement between Guatemala and Korea will soon be ratified so that exporters and importers from both countries can benefit from reduced tariffs.

Regarding buyers, I initially reached out to contacts I had established in Korea. Additionally, I conducted online research to expand our network and find more Korean buyers.

Q. Do you have any advice for Central American companies looking to export to Korea?

Korea is a promising market for waste exporters due to its advanced recycling technology. I believe there are still many business opportunities in the waste management sector.

From a cultural perspective, understanding Korean business customs, laws, and regulations is crucial. For instance, in Korea, honoring commitments—whether it’s a deadline or a meeting time—is highly valued and plays a key role in building trust.

Q. Have you received any external support when exporting Central American products?

Yes, we have received support from several Guatemalan organizations. When I first started exporting to Korea, CAMCOR, the Chamber of Commerce Guatemala-Korea, was in the process of being established. I am now a board member of CAMCOR. Additionally, AGEXPORT, the Guatemalan Exporters Association, provided valuable assistance, particularly with customs clearance. Other organizations, such as CIG (Cámara de Industria de Guatemala) and various environmental and regeneration associations, also support Guatemalan exporters.

Q. What challenges have you faced when exporting products from Central America to Korea?

Since used lead-acid batteries are considered hazardous waste, obtaining export permits is a complex process. According to Guatemalan legislation and the Basel Convention—an international treaty that regulates the transboundary movement of hazardous waste—it took Baretec Guatemala two years to obtain the necessary permits.

Another challenge is the lack of incentives and benefits for green businesses in Guatemala compared to countries like Colombia, Chile, and even Panama.

On a personal level, one of the biggest challenges in this industry is the illegal smuggling of batteries to other countries at lower prices. This creates intense price competition, making it difficult to maintain business profitability.

Q. Given the current market situation in Korea and Central America, how do you foresee supply and demand trends?

Overall, the demand for lead is gradually decreasing as the transition to electric vehicles progresses. However, I believe that the supply of used lead-acid batteries in Latin America will remain stable and sufficient for at least another decade, until most transportation becomes electric.

The market is also highly influenced by the global price of lead, which fluctuates based on supply chain conditions, industrial demand, and policy changes in major importing countries like Korea. For example, in 2023, our exports to Korea decreased significantly due to a drop in lead prices, which reduced demand.

Looking ahead, I believe Latin America’s waste recycling industry has significant untapped potential. Strengthening trade ties with Korea and other countries will be key to driving sustainable business opportunities in the years to come.

Contact Information

  • Company :  BARETEC Guatemala
  • Name :  Angélica de Leon (CEO)
  • Webpage :  https://baretecguatemala.com/
  • Email :  gerencia@baretecguatemala.com
Scroll to Top