Doing business in South Korea. Korean economy. Foreign trade export

Course summary (Doing business in South Korea)

Business in Seoul Korea ROC. Shipbuilding, semiconductors, construction, digital electronics and automobile. FDI

South Korea: the 13th largest economy in the world (by GDP)

Korea successfully transformed itself from a war-torn country to the world's 13th largest economy, backed by its leading industries and exports. Today, Korea is the Asia’s fourth-largest economy.

Korea has shown excellence in several noted industries: shipbuilding, semiconductors, construction, digital electronics and automobiles. Korean builders also shine in the international arena, specially in the construction market in Asia and the Middle East.

Fourteen Korean firms made the 2007 Fortune Magazine's Global 500: Samsung Electronics, LG, Hyundai-Kia Motors, SK, Samsung Life Insurance, POSCO, Korea Electric Power Corporation, Kookmin Bank, Hanwha, KT, Samsung, Hyundai Heavy Industries, SK Networks, and S-Oil.

Joint ventures between Samsung and SONY and LG and Philips are two excellent examples of productive industrial partnerships in the LCD sector, while the takeover of Daewoo Motors by GM and that of Samsung Motors by Renault represent success in the automotive sector. Korea produces over 3.8 million vehicles annually, led by the five Korean carmakers -- Hyundai Motor, GM Daewoo, Renault Samsung Motors, Ssangyong Motor, and Kia Motors.

Korea is home to seven of the world's top 10 shipbuilders, including Hyundai Heavy Industries, Samsung Heavy Industries Co., Daewoo Shipbuilding and Marine Engineering Co., STX Shipbuilding and Hanjin Heavy Industries and Construction. The port of Busan is the world's fifth largest container port, having handled a throughput of 13,450,000 TEU in 2008.

Korea has built its position as a powerhouse in terms of information technology, backed by its vast IT-related production and exports, development of world-leading technology, and also the wide use of Internet and mobile telecommunication devices within the country. Samsung Electronics is the world's biggest computer memory chip maker and Hynix Semiconductor is currently world's No.1 DRAM and No.3 NAND Flash Memory Producer.

From air conditioners, microwaves and computers to liquid crystal display screens, Korean firms have captured customers' hearts worldwide with better prices and advanced technology. Korea aims to increase its dominance in the global display market by controlling at least 45 percent market share in 2017.

International Economic Relations. Korea has been actively taking part in regional international gatherings: APEC©, ASEM and ASEAN. South Korea is member of: Asia-Pacific Economic Cooperation (APEC) ©, Asia-Pacific Trade Agreement (APTA). ASEAN Plus Three, Pacific Economic Cooperation Council (PECC), Boao Forum For Asia (BFA), Forum for East Asia-Latin America Cooperation (FEALAC), Asia Cooperation Dialogue (ACD), Asia - Middle East Dialogue (AMED), Asia-Europe Economic Meeting (ASEM), Asian Development Bank (ADB), Economic Commission for Latin America (ECLAC), Economic and Social Commission for Asia and the Pacific (ESCAP), Inter-American Development Bank (IDB), Colombo Plan ...

South Korea Free Trade Agreements (FTAs), European Free Trade Association (EFTA), US - Korea FTA, Singapore (KSFTA), ASEAN ROK Korea Free Trade Area (AKFTA), EU - South Korea FTA, ASEAN ROK Korea Free Trade Area (AKFTA), India - Korea CEPA, FTA Peru - South Korea, South Korea - Chile FTA

Korea has also been negotiating free trade deals with Canada, Mexico, the Gulf Cooperation Council (GCC), Australia, New Zealand, Peru, Colombia and Turkey.

The groundwork is being laid for FTA negotiations with China, Japan, MERCOSUR, Russia, Israel and the South African Customs Union.

Korea is the world's 11th largest trader with imports and exports accounting for nearly 90 percent of the country's GDP. Korea ranked 10th in the world in terms of global export market share based on cumulative export from January to April 2009.

Currently, Korea sells to and buys from over 220 countries around the globe with China, Japan, and the U.S. as its major trading partners.

Main export markets: United States, Canada, Brazil, Mexico, ASEAN, Japan, China, Singapore, India, Australia, European Union, United Kingdom, France, Germany, Russia and Saudi Arabia.

Foreign direct investment in Korea fell by 8.2% in the first quarter 2010 from the same period of the previous year. By industry, FDI in the manufacturing industry decreased, while FDI in the service industry rose during the same period. Investment from the EU has increased. (May 12, 2010)

Seoul, the capital of the Republic of Korea, is the center of the nation's economical, financial, logistical and business infrastructure. Seoul, is nearly equidistant from the southeastern port of Busan and the northwestern town of Sinuiju on the China-North Korea border. The city is also conveniently located in the middle of several major northeast Asian metropolises, such as Tokyo, Beijing, Shanghai and Taipei. At the end of 2006, Seoul's Gross Regional Domestic Product (GRDP) was US$ 193.7 billion, or 22.6% of the national GDP of US$ 856.1 billion. When the city’s metropolitan areas are included, the figure increases to US$ 408.59 billion, or 47.7% of the nation's GDP.

Business opportunities in the provinces of South Korea: Incheon, Gangwon, Gyeonggi, Chungbuk, Chungnam, Daejon, Gyeongbuk, Daegu, Jeonbuk, Gyeongsang, Ulsan, Gwangju, Busan, Jeonnam.

There are about 75 million people in the world who speak Korean, and according to a statistical ranking done in 2002, Korean is the 13th most spoken language in the world.

EENI in Korean Language 석사 무 역 및 국제 마케팅

Borders: China, Russia, Japan

Example of the course Free Trade Agreement (FTA) Peru - South Korea:

Free Trade Agreement (FTA) Chile - South Korea: