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Export Opportunities: South Korea
Key Facts to help your business benefit from the South Korea market
Country Profile
Why Export to South Korea?
Capital CitySeoul
• L arge trading opportunity – Currently the eighth largest
trading nation in the world (gov.uk)
• Business friendly – The EU-Korea Free Trade Agreement
was signed in 2011 making entering the South Korean market
relatively easy (gov.uk)
• Positive outlook for future trade – There are currently
11 more Free Trade Agreements in discussion (gov.uk)
• Few financial barriers – 97% of financial barriers between
Korea and the EU have been lifted meaning EU exporters have
saved a total of c1.6 billion in duties (gov.uk)
• High GDP – GDP is over 1 trillion USD which is equal to
2% of global GDP (gov.uk)
• A
ppetite for British goods – The South Korean public has
a taste for British culture and respect for UK goods (gov.uk)
Population
49.04 million (2014, CIA World Factbook)
Currency
South Korean Won
GDP
1.45 trillion USD (2014, IMF)
Official LanguageKorean
Seoul
Tips for Doing Business
in South Korea
• F ind a representative – The most common form of
operation is distribution via an agent so find a representative
office to begin communications (gov.uk)
• Adhere to etiquette – It is polite in a business
environment to dip your head and shake hands when
greeting a Korean (gov.uk)
• Understand the numbers – The numerical system is
different to the UK so it is advisable to write down figures
to ensure they are understood by all parties (gov.uk)
• Be organised – Business meetings are usually planned a
few weeks in advance with most scheduled for mid-morning or
mid-afternoon (korea4expats.com)
Shipping Services to South Korea
Your Shipment
URGENT
LESS
URGENT
Your Transit Time*
Your FedEx Service
For all your shipments containing packages
weighing up to 68kg
1-2 days to key business centres
FedEx International Priority®
For all your shipments containing packages
weighing between 68kg and 1,000kg
2-3 days
FedEx International Priority® Freight
For all your shipments containing packages
weighing up to 68kg
4-7 days
FedEx International Economy®
For all your shipments that include items
weighing between 68kg and 1,000kg
4-6 days
FedEx International Economy® Freight
* Transit times and delivery commitments may vary depending upon exact origin, destination and nature of goods carried. Visit fedex.com/gb for further details.
How to Get Started: talk to FedEx Express on 08456 016060 to learn how we can help
your business reach customers in South Korea.