South Korea
Business Expansion
made easy.

A hi-tech, cultural juggernaut, South Korea is home to 50 million people and rests between the two Asian giants of China and Japan. Although these two powers often overshadow South Korea as a business destination, the country features a sophisticated and affluent populace, world-leading infrastructure, and a plethora of business opportunities for companies involved in industries like electronic manufacturing and shipbuilding.

The economy of South Korea is the 4th largest in Asia and the 11th largest in the world. It is a mixed economy dominated by family-owned conglomerates called chaebols. South Korea tackled a tough economic crisis in the late 1990’s with landmark economic reforms, including restructuring some chaebols, increasing labor market flexibility and opening up to more foreign investment and imports. These steps led to a relatively rapid economic recovery.

South Korea has also expanded its network of free trade agreements to help bolster exports and has implemented 16 free trade agreements covering 58 countries, including the United States and China, that have galvanised its international reach.

With the strong and diverse purchasing power of more than 50 million consumers, South Korea is an ideal testbed for global markets and a laboratory in which to explore future markets.

Reasons to do business in South Korea include:

• Business-friendly environment
• Educated, skilled labor force
• Strong and stable economy

South Korea has unique business and cultural considerations that shape a company’s experience and impact operations in the country. To make business expansion easier, here is a list of important aspects about doing business in the world's 11th largest economy:

• Tax guidelines
• Work permit requirement
• Employment considerations
• Business etiquette

Planning to set up or further expand in South Korea? Download our South Korea business expansion guide to learn more.