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 South Korea

As they say, “the smallest peppers are the spiciest.” Although it doesn’t have as enticing a market size as neighbors in the region, South Korea is an ideal test bed and launch pad for Asian markets thanks to cultural nuances — a top notch early adapter culture combined with high population densities and homogenous consumer behavior. The country also happens to be a leader in certain industries thanks to the government’s strong emphasis and backing on innovation in the STEM fields. If you’re interested in bringing your company to South Korea, make sure to let us know.

 

Industry Overview

Hot Markets: Beauty & cosmetics, bioengineering, gaming, e-sports, plastic surgery, medical tourism

Big Industries: Electronics, telecommunications, automobile production, chemicals, shipbuilding, steel,

Quick Stats

Population: 51 Million

GDP: US$ 1.619 Trillion

GDP/Capita: US$ 35,938  (ppp log scale)

FTAs: 38+

Import: US$ 478,469,167,570

Export: US$ 573,627,368,940