{"id":7594,"date":"2017-12-22T16:58:01","date_gmt":"2017-12-22T07:58:01","guid":{"rendered":"https:\/\/news.samsungcnt.com\/en\/?p=7594"},"modified":"2023-02-28T14:19:34","modified_gmt":"2023-02-28T05:19:34","slug":"samsung-cts-riyadh-office-unearthing-new-opportunities","status":"publish","type":"post","link":"https:\/\/news.samsungcnt.com\/en\/features\/trading-investment\/2017-12-samsung-cts-riyadh-office-unearthing-new-opportunities\/","title":{"rendered":"Samsung C&T\u2019s Riyadh Office: Unearthing New Opportunities"},"content":{"rendered":"\t\t
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It may seem ironic that a city sitting in the middle of a country that\u2019s 95 percent desert would be called \u201cthe gardens.\u201d But if you look at present-day Riyadh, you\u2019ll realize the name befits its role as the political and financial capital of Saudi Arabia, teeming with energy and new opportunities.<\/p>

Samsung C&T\u2019s Trading and Investment Group has maintained its presence in this bustling metropolis now for nearly four decades. Its Riyadh office has witnessed many ebbs and flows in Saudi Arabia\u2019s local economy, and over the past few years has positioned itself as a strong strategic hub, connecting the Middle East and Africa through its office in Jeddah and the Cairo office in Egypt.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Strong as Steel<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The main driver of recent growth for the Riyadh office has been steel.<\/p>

Performance in this sector over the past three years speaks for itself, with the overall sales volume and revenue jumping 19-fold and 8-fold, respectively. Current office head Pan-rok Lee has witnessed this growth firsthand, having joined the Riyadh operation in 2014 as a steel expert and assumed his more recent post as office head in April 2016.<\/p>

The Riyadh office is also looking to expand its presence in the trade of chemicals and commodities like electrolytic copper, but steel is by far its most prominent trading item.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Identifying Different Needs<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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While no one can deny that market conditions were ripe for business to expand, there were multiple factors that contributed to the Riyadh office\u2019s robust growth. Manager Lee believes much of the office\u2019s strength lies in its diversity, with members coming from many different parts of the world such as Pakistan, India, and Egypt.<\/p>

\u201cWe\u2019re almost like family. We all help each other out and ask for help if there are any problems. By proactively doing so, I think the office as a whole is able to grow,\u201d Assistant Manager Syed Saim Ali said.<\/p>

There\u2019s also a healthy balance between employees who have been with the Riyadh office for many years and those who are relatively new.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Building Ties<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Riyadh office looks to extend this tight network to its clients as well.<\/p>

\u201cWhen it comes to clients, you need to make continual efforts to build up trust. Here, people share important information and tell us when they want us to buy goods from them, once they feel they\u2019ve established a good relationship,\u201d Senior Manager Mohammed Bazara, who oversees steel sales, explained.<\/p>

This kind of effort is not limited to daily interactions like placing calls and sending emails. It\u2019s also about visiting them in person. Lee and his team often order lunch in advance and take it with them when meeting clients. This allows them to discuss business in a more relaxed environment over lunch \u2013 something that\u2019s virtually impossible because of heavy traffic in the city.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Unearthing New Opportunities<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Maintaining such relationships through constant communication is a sizeable challenge that never gets easier, but securing new business altogether requires a different level of dedication and relentlessness.<\/p>

Back when Manager Lee first visited Cairo in search of new business opportunities, he found himself wandering around a local hardware store district. With no existing network he could rely on, he thought he might be able to gain some insight from tool vendors. It\u2019s hard to say whether it was luck or fate, but one thing that\u2019s certain is that Lee\u2019s entrepreneurial thinking paved the way for business in Egypt.<\/p>

The experience eventually led to new contracts in the country and the potential to expand into markets elsewhere.<\/p>

But Manager Lee believes unearthing new opportunities is not just about being driven and passionate. He says being a pioneer is all about having the right amount of \u201crational optimism.\u201d In other words, you have to be willing to take on a challenge, but also have the right tools to calculate risk and quickly take action.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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More Potential Ahead<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Samsung C&T T&I Group\u2019s rapid growth in the Middle East took place at a time when a lot of changes were underway. Despite this, the Riyadh office was able to capitalize on this with the expertise of its staff members, their willingness to venture into unknown territory, and the spirit of collaboration with others.<\/p>

\u201cI think if we look hard enough at the desert in front of us, we\u2019ll see a market in which we might dig up pearls,\u201d Lee said, adding that he believes there\u2019s still endless potential ahead.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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It may seem ironic that a city sitting in the middle of a country that\u2019s 95 percent desert would be called \u201cthe gardens.\u201d But if you look at present-day Riyadh, you\u2019ll realize the name befits its role as the political and financial capital of Saudi Arabia, teeming with energy and new opportunities. Samsung C&T\u2019s Trading […]<\/p>\n","protected":false},"author":1,"featured_media":7611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[2103,2346,1805,2347,2324,2348,2349,2285,2350,2351,2286,90,354,1814,342,163,2352,1888,95,166,2353,2287,2288,2354,187,1818,1683,2290],"class_list":["post-7594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading-investment","tag-africa","tag-cairo","tag-chemicals","tag-egypt","tag-global-shipping","tag-jeddah","tag-middle-east","tag-natural-resources","tag-opportunities","tag-optimism","tag-riyadh","tag-samsung-ct","tag-samsung-ct-ti-group","tag-samsung-ct-trading-and-investment-group","tag-samsung-ct-trading-group","tag-samsung-trading","tag-saudi-arabia","tag-shipping","tag-smart-technology","tag-steel","tag-subsidiary","tag-ti","tag-ti-group","tag-teamwork","tag-trading","tag-trading-and-investment-group","tag-trading-group","tag-world-trade"],"acf":[],"yoast_head":"\nSamsung C&T\u2019s Riyadh Office: Unearthing New Opportunities - Samsung C&T Newsroom<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.samsungcnt.com\/en\/features\/trading-investment\/2017-12-samsung-cts-riyadh-office-unearthing-new-opportunities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Samsung C&T\u2019s Riyadh Office: Unearthing New Opportunities - Samsung C&T Newsroom\" \/>\n<meta property=\"og:description\" content=\"It may seem ironic that a city sitting in the middle of a country that\u2019s 95 percent desert would be called \u201cthe gardens.\u201d But if you look at present-day Riyadh, you\u2019ll realize the name befits its role as the political and financial capital of Saudi Arabia, teeming with energy and new opportunities. 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