Even with its troublesome neighbor, South Korea is a great choice for exporters. The country can rely on a rapid economic development, a strategic location between two important trading countries, China and Japan, and a specialization in new information and communication technologies. South Korea offers advanced R&D capabilities and high quality infrastructure, and South Koreans are savvy consumers of new technologies and they are willing to pay for quality products. They benefit from the fastest average Internet connection speed, in a country considered to be a leader in Internet connectivity.
Foreign investors interested in going business in South Korea will, however, face the challenge poses by unique industry standards, and thus a general lack of transparency. Its workforce is highly skilled, but also costly, and real estate is expensive. However, patient and committed investors find business to be rewarding, and the average South Korean’s consumer to be loyal.
South Korea is one of the most urbanized countries on the planet, and also one of the most populated, filled with potential consumers. In this Getting to Global guide, we will guide you through the process of reaching South Korea’s consumers, successfully making sales on e-commerce channels, and getting your products to reach the desired consumers.