Cheongho Nice, First to Receive $20 Million Export Tower, Strengthens European Market Strategy

Awarded '20 Million Dollar Export Tower' This Year
Targeting Europe Based on North American Market Success

Chungho Nice has performed well in the global market this year. Overseas sales increased to the extent that it won the '20 Million Dollar Export Tower' for the first time. Based on clear achievements in the North American market, the company plans to further accelerate its strategy to target new markets such as Europe.

Chungho Nice announced on the 7th that it received the '20 Million Dollar Export Tower' at the 60th Trade Day ceremony recently held. Since Chungho Nice started exporting to overseas markets in 1994, the year after its establishment, this is the first time it has won the 20 Million Dollar Export Tower. Chungho Nice currently offers water purifiers in about 66 countries including North America, Asia, and Europe. This year, overseas sales as of the first half of the year showed a favorable trend, increasing by more than 70% compared to last year.

Espre Cafe

The market that accounts for the largest portion of Chungho Nice's overseas sales is North America. In the U.S. market, sales in the first half of this year surpassed the total sales of last year. The sales increase was led by 'Super Ice Tree,' a product that accounts for more than 60% of sales in the U.S. It has an ice production capacity of 18 kg per day, making it the most popular product in the local ice maker market, which is active. In particular, offices, hotels, and restaurants that want to equip coffee systems are seeking this product a lot. Chungho Nice analyzed that factors such as securing price competitiveness compared to existing product lines in the U.S. market contributed to its popularity. It is also evaluated that the technology recognized for stable quality based on capacity relative to size contributed to the increase in exports.

Just as Chungho Nice achieved results in the North American market by emphasizing the ice-making function, it plans to pioneer new markets with products tailored to local markets. A representative example is the launch of 'Esprecafe,' which combines a coffee machine and an ice water purifier, targeting the coffee-sensitive European market. Chungho Nice has continuously developed new technologies since it first introduced a coffee machine that produces ice in 2014. Esprecafe was launched as a new product in 2021 and has established itself as a bestseller in the domestic market. Based on this, it began local market penetration at 'IFA 2023,' the largest European electronics exhibition held in Germany in September this year, receiving favorable reviews from local consumers. Due to geographical characteristics, Europe has limestone bedrock, and groundwater contains dissolved limestone, leading to a culture of buying bottled water. In the case of Chungho Nice's Esprecafe, attention was focused on the fact that coffee can be brewed with clean water filtered by the purifier. Chungho Nice also participated last month in 'Aquatech Amsterdam 2023,' the world's largest water industry exhibition held in the Netherlands, showcasing water purifiers and component materials.

A Chungho Nice official said, "We will continue to promote the excellent technology of K-water purifiers in markets such as Europe," and added, "Based on the excellent technology and quality accumulated over 30 years, we will make further efforts to expand new business partners and target the global market."