By Tessa de Weerd 

Today, to mark the day of the entrepreneur, the embassy of the Kingdom of the Netherlands in Seoul interviewed two Dutch entrepreneurs entrepreneurs, Daniela Sordi founder of CarbonX and Soufiane el Khinifri founder of Spatialise, who are exploring the Korean market. Click on the link below to learn more about their motivations, their first insights into the cultural and business differences, and the exciting opportunities they see in Korea as they embark on their entrepreneurial journeys.

Daniela Sordi, Co-founder and Chief Technology Officer CarbonX 

Our first entrepreneur is Daniela Sordi, Co-founder and Chief Technology Officer CarbonX. After doing a PhD in chemistry at the University of Rom Tor Vergata and Delft University she began her entrepreneurial journey in 2014, when CarbonX was created as a spin off from the Delft University. In the 10 years after she has been dedicated to advance the technology and its applications, particularly 
scaling up to mass production, with a strong focus on the automotive industry. CarbonX is the first company to supply a graphite equivalent suitable for use as an anode active material in electric vehicle battery applications. In other words, the company develops and sells an alternative for graphite, but more sustainable and locally produced. The company is proud to have a very diverse team (12 employees, 7 nationalities and a 50/50 gender balance) with deep experience in battery technology, carbon nanostructures, carbon black production, business development, and sales. 

What was the main motivation for starting your own company?

I have multiple reasons, my entrepreneurial journey is fueled by a passion for innovation and sustainability. I aim to address market gaps with solutions that promote a sustainable future, like in the automotive industry. I view entrepreneurship as a chance to solve real societal challenges by improving processes and adopting sustainable methods. Financial potential also drives me, as a viable business model allows for personal growth and community reinvestment. I am committed to making a positive impact through technology and sustainability, creating a legacy for future generations. I would like to leave the world a better place.

Why did you choose South Korea?

Right now 95% of all graphite originates from China. The US and the EU are trying to develop their own supply chains. We work with China, the US and the EU! South Korea is an intriguing market with top cell manufacturers headquartered here. Our clients are there, which makes it an interesting new partner for us. 

As of now, we took our first steps to enter the market. First we got engaged with our clients and supply chain at events and via our network, we have met most of these companies at conferences. We also joined the Dutch trade mission to Korea, organized by the Netherlands Enterprises Agency (RVO) and the embassy. We recently visited South Korea again to establish and strengthen our relations. 

What are the biggest challenges and differences for a Dutch company doing business in South Korea?

I have to say, our last trip went smoother than expected. In Seoul, you can travel around easily and safely. But there are some challenges. For instance, communication can be challenging due to language differences. Also, if you get into business you need to know locals, we know that we would need a Korean agent now. Next to this, establishing effective distribution channels can be difficult. Understanding logistics and local supply chain dynamics is essential for timely delivery and product availability. While many South Koreans speak English, having local language support can enhance business relationships and marketing efforts. Luckily, the Embassy in Seoul is actively helping us with expanding our local networks, market dynamic knowledge, distribution and sales channels. 

What are the main lessons you have learned as an entrepreneur and what advice would you give aspiring entrepreneurs who are interested in South Korea?

I have learned the importance of adaptability in a constantly changing business landscape. You need to listen to your clients. Building strong relationships with customers, the supply chain, and the team is vital, you have to be there to build trust. And I think every entrepreneur would say this: “failure is not the end; it offers valuable insights for growth”. Finally, maintaining a clear vision while welcoming feedback fosters innovation while staying true to our mission. Visit South Korea and establish the network. Get support by the Dutch Embassy and local agents who are familiar with the business.

How does your business contribute to a sustainable future?

CarbonX has a much lower carbon footprint compared to synthetic graphite which uses high temperature, lengthy production process or natural graphite, which is mined -causing additional environmental and societal damage. Additionally, we assess the environmental impact of our business on a regular basis. It is very important to keep innovating. This is also something which is very important in South Korea. We have seen that our Korean clients are very interested in sustainability.

 

Daniela Sordi LinkedIn page 

CarbonX LinkedIn page
 

 

 

Soufiane el Khinifri, Co-founder of Spatialise

Our second interviewee is Soufiane el Khinifri, a Dutch entrepreneur who just moved to Korea to explore the Korean market. After his master Geo-information Sciences he co-founded his business: Spatialise. This company aims to be the go-to platform for anyone wanting to know more about soil, using data to find out what nutrients can be found and where. “For the past 100 years you would typically need to 
take a sample, send it to lab and wait for analyses, we are essentially a kind of digital sampling lab”. The company was founded 4 years ago and has 9 employees, all based in the Netherlands. Soufiane moved to South Korea in September to join a Korean start-up Grand Challenge, where the Korean government helps him and 40 other companies to enter the Korean market through an accelerator program.

What was the main motivation for starting your own company? 

I guess it is freedom and flexibility, you are responsible for your own results. I feel more motivated because it is my own company. I have the freedom to decide on what days I work more than others, and for instance: what time I can work out. I have learned this at the Wageningen University, we had some student jobs and internships, during which I thought: there are so many smart and talented people, but in some companies this promising talent does not reach its full potential. 

Why did you choose South Korea?

You might not expect it, but I think Korea and the Netherlands are quite similar. Both countries are surrounded by bigger countries, have a strong and open economy and are very innovative. Also, both countries are ‘punching above their weight’. For us it is perfect place to start in a part of the world we are not active yet. Right now, we are already working in Kenya, South Africa, Chile, Brazil, India and many countries in Europe, but not in East-Asia. For us, the Dutch market is too small, we need to be worldwide and reach all billions of hectares of agricultural land.

What are the biggest challenges and differences for a Dutch company doing business in South Korea?

 

Mostly the language barrier, I have a translator, but things can get lost in translation. What is also new for me is another cultural aspect: You are expected to have dinner or drinks before you talk business. People are very polite, next to this, first impressions matter a lot, so you need to be very well prepared! Connections are important in doing business, you need to be here and take your time. Furthermore, in the Netherlands we like to sell things ‘cheap’, for instance: 2 euros for a hectare, but in Korea they prefer to immediately hear the real numbers for the total package, expensive ‘premiumship’ has the preference.

What really helped me is the startup programme of the Korean government. We get a lot of resources, sponsoring, a mentor, help for experts, an office and a translator. All of this really helps us a lot. Next to this, we got help from the embassy who made connections for us, I actually had my first meeting in Korea at the embassy. The Netherlands Enterprises Agency (RVO) had helped us in the past with trade missions to other countries as well, such as Slush in Helsinki. 

What are the main lessons you have learned as an entrepreneur and what advice would you give aspiring entrepreneurs who are interested in South Korea?

There are so many lessons, first of all, you learn the most of your own mistakes: it is mostly trial and error, there is no playbook. So, it is very important to actively listen to what your counterparty is saying. And once what’s said is said, keep in mind that only the written word counts! That is why you need to surround yourself with good people who want to help you. There are countless networking events and there is always someone who wants to help out. Specifically for Korea: make sure you speak the language, and be prepared for a lot of tasteful but quite sweet food.

Also, do not forget about the time difference, the rest of my company is still in the Netherlands. This means I work and live – in winter time – 8 hours later than my colleagues. 

How does your business contribute to a sustainable future?

We are able to make carbon in soil visible, and by doing so, we help other companies with their sustainability goals!

 

Soufiane el Khinifri LinkedIn

Spatialise LinkedIn

 

 

Are you a Dutch entrepreneur? Congratulations on the Day of the Entrepreneur! Did these interviews trigger your interest in South Korea and would you like to know more about doing business in South Korea? Take a look at the webpage of the Netherlands Enterprises Agency or contact the embassy of the Kingdom of the Netherlands in Seoul via e-mail.