Trade and Business in South Korea, Seoul

The objectives of the subject “Foreign Trade and Business in the Republic of Korea” are the following:

1. To analyse the South Korean Economy and Foreign Trade (Import, Export, FDI)
2. To know the business opportunities in South Korea
3. To explore the South Korean trade relations with the country of the student
4. To know the South Korean Free Trade Agreements (FTAs)
5. To examine the profile of South Korean businesspeople and companies
6. To develop a business plan for the South Korean Market

South Korean Free Trade Agreements (FTA).

1. South Korea and the Buddhist Economic Area
2. Asia-Pacific Economic Cooperation (APEC)
3. Asia-Pacific Trade Agreement (APTA)
4. Peru-South Korea Free Trade Agreement
5. Singapore-Korea Free Trade Agreement
6. ASEAN-South Korea Free-Trade Area
7. South Korea-Australia Free Trade Agreement (FTA)
8. South Korea-Vietnam Free Trade Agreement (FTA)
9. South Korea-New Zealand Free Trade Agreement (FTA)
10. Canada-South Korea Free Trade Agreement (FTA)
11. South Korea-Chile Free Trade Agreement (FTA)
12. United States-South Korea Free Trade Agreement (FTA)
13. Regional Comprehensive Economic Association (RCEP)
14. Global System of Trade Preferences among Developing Countries (GSTP)
15. Protocol Relating to Trade Negotiations Among Developing Countries (PTN)
16. South Korea-India Economic Partnership Agreement
17. European Union-South Korea Free Trade Agreement
18. Free Trade Agreements with the European Free Trade Association (EFTA), Colombia, China, Central America, United Kingdom, Turkey, and Southern African Customs Union (SACU)
19. FTAs under negotiation: Mexico, Gulf Cooperation Council (GCC), Colombia
20. Indian-Ocean Rim Association (IORA) (dialogue partner)
21. Latin American Integration Association (ALADI) (observer)
22. South Asian Association for Regional Cooperation (Observer)
23. Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) - Candidate Country

Trade Facilitation Programs

1. World Trade Organisation (WTO)
   1. WTO General Agreement on Trade in Services (GATS)
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS)
   3. WTO Agreement on Technical Barriers to Trade (TBT)
   4. WTO Agreement on Preshipment Inspection (PSI)
   5. WTO Agreement on Safeguards (SG)
   6. WTO Trade Facilitation Agreement (TFA)
2. World Customs Organisation (WCO)
   1. Revised Kyoto Convention (RKC)
3. International Road Transport Union (IRU)
   1. TIR Convention
   2. Guidelines on Safe Load Securing for Road Transport
4. International Bureau of Containers and Intermodal Transport (BIC)
5. International Civil Aviation Organisation (ICAO, Chicago Convention)
6. International Maritime Organisation (IMO)
   1. Customs Convention on Containers (CCC, UN) - not a member
   2. Convention Relating to Temporary Admission (Istanbul Convention) - not a member
7. Organisation for Cooperation between Railways (OSJD)
8. International Chamber of Shipping (ICS)

Asian Trade and Economic Organisations

1. Economic and Social Commission for Asia and the Pacific (ESCAP)
2. Asian Development Bank (ADB)
3. Asia-Middle East Dialogue (AMED)
4. Colombo Plan
5. Asia Cooperation Dialogue
6. Boao Forum for Asia

Global Organisations

1. Pacific Economic Cooperation Council
2. Organisation for Economic Cooperation and Development (OECD)
   1. OECD anti-corruption measures
3. Forum for East Asia-Latin America Cooperation (FEALAC)
4. Asia-Europe Meeting (ASEM)
5. African Development Bank (AfDB)
6. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD)
   2. International Trade Centre (INTRACEN)
   3. Commission on International Trade Law (UNCITRAL)
   4. World Intellectual Property Organisation (WIPO)
7. World Bank (WB)
8. World Trade Organisation (WTO)
9. International Monetary Fund (IMF)
10. Pacific Economic Cooperation Council (PEEC)

The Republic of Korea

1. South Korean population: 49 million people
2. Language of South Korea: Korean.
   1. There are about 75 million people in the World who speak Korean
   2. Korean is the 13th most spoken language in the World
3. Borders of South Korea: Japan, China, Russia, and North Korea
4. South Korean Capital: Seoul
5. South Korean Area: 100,210 square kilometres
6. South Korea is a Presidential Republic
7. Independence from Japan: 1945
8. Currency of South Korea: Won
9. Abolition of Slavery in Korea: 1894

Religion in South Korea.

1. From the religious point of view, South Korea is more a “Western” than an Asian Country
2. About 50% of the Koreans have no religious preference
3. 30% are Christian (18.3% Protestant and 10.9% Catholic)
4. 23% are Buddhists (10 million)
5. Other minority religions are Islam, Chondogyo (mixture of Buddhism and Christianity), Taoism, and Confucianism

South Korea belongs to the Buddhist Civilisation / Sinic Civilisation

South Korean Economy.

The Republic of Korea (Asia) successfully transformed itself from a war-torn nation to the thirteenth largest economy in the World, backed by its leading industries and international trade.

South Korea is the fourth largest economy in Asia.

1. The Republic of Korea has shown excellence in several sectors: shipbuilding, semiconductors, construction, digital electronics, and cars
2. The nuilders of South Korea also shine in the international scenario, especially in the construction market in Asia and the Middle East
3. Fourteen firms of South Korea are in the Fortune Magazine's Global 500: Hyundai Heavy Industries, Samsung, Kookmin Bank LG, Hyundai-Kia Motors, SK, Samsung Life Insurance, Hanwha, POSCO, Korea Electric Power Corporation, KT, SK Networks and S-Oil
4. The Joint Ventures between Samsung and SONY and LG and Philips are two excellent examples of a productive industrial partnerships in the LCD sector, while the takeover of Daewoo Motors by GM and that of Samsung Motors by Renault stand for success in the automotive industry
5. South Korea produces over 3.8 million vehicles every year, led by the five car makers of South Korea: Hyundai Motor, GM Daewoo, Renault Samsung Motors, Ssangyong Motor, and Kia Motors
6. South Korea is home to seven of the top ten shipbuilders in the World, including Hyundai Heavy Industries, Samsung Heavy Industries Co., Daewoo Shipbuilding and Marine Engineering Co., STX Shipbuilding and Hanjin Heavy Industries and Construction
7. The Republic of Korea (ROK) has built its position as a powerhouse regarding the information technology (IT), backed by its large IT-related production and international trade, world-leading technology development
8. Samsung Electronics is the largest computer memory chipmaker in the World, and Hynix Semiconductor is No.1 DRAM and No.3 NAND Flash Memory Producer in the World
9. From air conditioners, microwaves, and computers to liquid crystal display screens, companies in South Korea have captured customers' hearts worldwide with better prices and advanced technology

Seoul, the capital of the Republic of Korea, is the economic, financial, and business centre.

1. The gross domestic product of Seoul: 193.7 billion dollars
2. If the metropolitan areas of the city are included, Seoul represents 47.7% of the Korean GDP

International Trade of Korea.

1. South Korea is the eleventh largest global trader in the World with imports and exports accounting for 90% of the gross domestic product of South Korea
2. The Republic of Korea ranked tenth in the World regarding the global export market share based on the cumulative export
3. South Korea export and import from 220 countries worldwide with the People's Republic of China, Japan, and the United States as its largest trade partners
4. The main South Korean export markets are the United States, Canada, Brazil, Mexico, the Association of Southeast Asian Nations (ASEAN), Japan, the People's Republic of China, Singapore, India, Australia, the European Union (EU), the United Kingdom, France, Germany, Russia, and Saudi Arabia
5. The Port of Busan is the fifth-largest container port in the World, having handled a throughput of 13,450,000 TEU (twenty-foot equivalent unit)

Korean language (석사 무 역 및 국제 마케팅)

(c) EENI Global Business School (1995-2022)
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