Why participate in a Business Mission to Korea
- EU-Korea free trade agreement means increased trade opportunities, lowered market entry barriers, and support for business development
- Large, fast-growing economy, with average annual GDP growth of 5 percent
- Gateway to Northeast Asia- strategically poised between China and
Japan – two of the world’s largest markets (Kotra) - Broad base of sophisticated consumers with a strong purchasing power
- Presence of globally competitive firms with 17 Korean firms in fortune 500
Challenges to penetrating the Korean market?
- Language barrier
- Establishing contacts, connections, and network
- Business culture and practices
- Knowledge on specifics of market and industry
How does the EU Gateway ensure a successful business mission to overcome these challenges?
- Translation and interpretation services
- Pre-arranged contacts with local companies and meeting facilitation assistance
- Professional coaching on doing business in Korea
- Market studies and expert briefings
EU-Korean Economic Relations
The Free Trade Agreement (FTA) between the EU and the Republic of South Korea was initialled on 15 October 2009.
South Korea is the EU's eighth largest trade partner and the EU has become South Korea's second largest export destination. EU trade with South Korea exceeded €65 billion in 2008 and has enjoyed an annual average growth rate of 7.5% between 2004 and 2008.
Read more about EU-Korea Bilateral Relations ...
