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Korea - A profitable business hub for Northeast Asia
If you haven't looked at Korea recently as a strategic
business location in Asia, look again. Sweeping changes have improved
the Korean market as consensus grew rapidly after 1998 to give high priority
to the attraction of foreign investment projects, and in particular high
technology industries with sophisticated R&D requirements. It enjoys a
reputation as one of the most "wired" (or rather, wireless) countries, with
97% of the labor force having college or vocational training.
Korea already enjoyed rapid development as it became a global
economic leader, while retaining lower costs than the US or Japan, but with
China developing rapidly next door, Korea is obviously not competing as the
lowest labor cost market in the region.
Korea enjoys strong business and cultural connections into
China, without some of the uncertainties which face investors seeking
profits in that fast-changing market or other parts of Asia. It isn't
the cheapest labor market in Asia, but it's a predictably profitable place
to do business, with a strong support infrastructure.
In short, Korea is growing as a democratic, capitalist
society with a large domestic and Asian market, despite the economic and
other challenges of recent years. It is becoming an easier, although
competitive and challenging, place to do business. |
Korea is already the sixth largest US export market,
exceeding China, Taiwan, Australia, France and the Netherlands.
Korea's potential has also not escaped the notice of European firms, which
have invested in a steadily growing presence.
There may not be as many M&A bargains as in the wake of the
economic crisis a few years ago, and China has diverted attention from
Korea, but the level of foreign investment into Korea remains high.
Meanwhile, the flow of direct investment from Korea into China has climbed
dramatically as companies seize this opportunity.
The billions of dollars in infrastructure investment projects
in progress combine with development policies which favor high-technology
industries, including major R&D initiatives, improved intellectual property
protection and various business incentives. Many top companies are
well-established and growing profitably in Korea, and the government is
committed to making Korea a very profitable business hub for Asia.
Highlights :
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www.investkorea.org
Link to simple
maps of Korea Tokyo, Beijing,
Osaka, Shanghai and Hong Kong are within a 3 hour flight |
Promotional
materials - list >
Invest Korea Journal
Official overview of the Korean economy,
investment climate, and society in general for business leaders.
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| Executive Summary
Invest Korea
formerly known as the Korea Investment Service Center (KISC)
and KOTRA |
Contact information
Website :
www.investkorea.org |
THIS SECTION REMAINS INCOMPLETE
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Jang Hee Lee
or Timothy Newman
Invest Korea (KOTRA
- Korea Trade Center)
4801 Wilshire
Blvd., Suite 104
Los Angeles, CA
90010
TEL
(323)954-9500
FAX
(323)954-1707
e-mail :
to Jang Hee Lee (Los Angeles)
Alternate
contacts :
Invest Korea,
Seoul
www.investkorea.org
300-9, Yomgok-dong
Seocho-gu, Seoul
Korea
TEL (822) 3460
7543 FAX (822) 3460-7946
super@investkorea.org
82 is the country
code, 2 is the city code for Seoul
Invest Korea
operates through the Korea Trade Center (KTC-KOTRA) offices in the US and
many other major cities worldwide :
Korea Trade Center
- KOTRA New York
Mr. Jae Hyo Kim,
President TEL (212) 826-0900
kotrany@ix.netcom.com
Washington DC
TEL (202) 857-7919
Chicago
TEL (312) 644-4323
info@kotrachicago.com
Detroit
TEL (248) 355-4911
San Francisco
TEL (415) 434-8400
Dallas
TEL (972) 934-8644
Miami
TEL (305) 374-4648
Atlanta
TEL (770) 508-0808
Toronto
TEL (416) 368-3399
Vancouver
TEL (604) 683-1820
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List of available sites or facilities :
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Examples For example, the
DMC - Digital Media City
development could be highlighted, among others |
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Service Provider Relationships
Professional
service providers reported to be very familiar with direct investment
considerations in this area from previous work on major investment projects
or among leading investors there:
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Other Resources
Other suggested contacts for investment planning in this
area:
Invest Korea
Journal :
www.ikjournal.com published by Invest Korea
formerly known as
the Korea Trade & Investment Journal (KT&I)
Korea : A World
of Potential - detailed 160 pg guide to doing business in Korea,
available through Invest Korea
Building Korea
: Policy, Players and Opportunity in the Korean Infra Market - brochure
from Invest Korea about investing in social infrastructure projects such as
light transit systems, subways, airports, ports, bridges, roads, etc.
Provincial or
local contacts who work with Invest Korea to support foreign investors
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Article Archives
The Financial
Times
The Economist -
subscribers only
Korean or
regional business media |
GIS Map Makers NOT YET
COMPLETE
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Data Pointers - see also
Consultant Tips
Suggested
sources of timely statistical data for location selection issues
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Sponsored articles, PR
Invest Korea Journal
News and newsletters
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Companies in
Korea - list >
The directory is limited to major parent companies and
known subsidiaries to highlight a sample of the many foreign investors in
Korea.
This makes it easier to recognize where major investors
have clustered, and to identify the local area representatives.
It is not intended to be a comprehensive directory of all
foreign investments. Website links are provided to facilitate research
about companies of interest.
Other resources :
The
Invest Korea website lists many foreign investors by showing their logos,
but provides no further details.
Chambers of
Commerce or associations
Invest Korea also publishes a CD-ROM, "Promising
Investment Partners in Korea", listing several hundred Korean firms by
industry, with website links, for exploring potential business alliances.
Most are small or mid-sized firms. |
Past Projects
- list >
NOT YET COMPLETE
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Testimonials
- list >
NOT YET COMPLETE -
The Invest Korea website lists some
success stories among foreign investors.
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| Relationship Disclosure
We had a short-term contract with Invest Korea in 2004 for our
independent service (SICR) to support their US promotional activities by
contacting and
introducing executives with potential interests in South Korea. We do
not function as their employee or agent.
Our role was to help them to meet more potential investors
who might welcome their assistance. Such introductions are driven by the
interests and instructions of such executives, including respect for project
confidentiality.
It is not our role to "push" investment in Korea, but rather
to know how to assist executives who may have potential investment interests
there, and to introduce them to the relevant contacts so that projects in
Korea can be developed faster, better, and more easily. |
Relationship leader at GDI Solutions for potential
investors
:
Bruce Donnelly
Please advise regarding any necessary corrections to this
Area Profile.
As relationship leader, Bruce is responsible for maintaining
contacts and market knowledge at GDI Solutions about Korea, and also serves
as an initial contact point for any investors who may choose not to
contact Invest Korea representatives directly yet about their interests, for
whatever reason. If you contact Invest Korea directly, please let them
know how you found them.
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| Investment Incentives Available in
Korea
NOT YET COMPLETE
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Other
contacts which may interest some potential investors:
NOT YET COMPLETE
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