Economy, Business And Markets

Dongbu Daewoo Strikes Electronics Supply Deal in Iran

Dongbu Daewoo Strikes Electronics Supply Deal in IranDongbu Daewoo Strikes Electronics Supply Deal in Iran

Seoul-based home electronics company Dongbu Daewoo Electronics said on Monday it would exclusively provide home appliances to Iran’s largest electronics firm, Entekhab.

The company hopes to pursue a more aggressive marketing strategy with the deal amid the expanding presence of South Korean enterprises in Iran after western sanctions imposed on the Middle Eastern country were recently lifted, The Korea Times reported.

“The exclusive supply deal has been made under the solid trust of Dongbu Daewoo Electronics’ products,” said Rhee Kyung-chul, chief of the firm’s Middle East and Africa business.

“We expect to release quality products to more Iranian customers by tapping into Entekhab’s distribution chain that has helped us successfully establish a foothold in the Iranian market.”

Entekhab Industrial Group was established in 1988 and operates more than 200 outlets in eight major cities. The Iranian electronics company has closely cooperated with Dongbu Daewoo Electronics since 2007.

Under their electronics product supply agreement, Dongbu Daewoo Electronics will exclusively supply its branded electronics products, including refrigerators, washing machines, ovens and wall-mounted air-conditioners.

“We have signed the sales contract under the belief that Dongbu Daewoo’s products are a good match for Iranian customers who care about reasonable spending,” Entekhab Group said.

“Beside expansion of our product lineup, we will also provide active promotions and after-sales services here.”