What is the business environment in South Korea?

Benefits of investing in South Korea

  • It is rapidly growing when compared to other Asian countries. Based on market analysts, the South Korean economy can grow at more than 4% between 2015 and 2030. That is a very good percentage and if you are looking to start a business in the country with the help of a business partner, then you are making a right decision for profits.
  • The economy is pretty stable when compared to other Asian countries and their European counterparts who are in fact shrinking. It is a member of the G20 in the form of OEDC nation. The per capita income of the citizens of the country is more than $30,000 which is a good indicator that it is stable.
  • However, the geopolitical risk is always there in the form of an unstable neighbor in North Korea. But, with the American help, South Korea has always been able to protect its borders and is considered as one of the powerful super powers in the world. Thanks to technology they have been able to develop their nuclear capabilities and are well protected from all sides.
  • Apart from exports only in the automobile and electronic products sector, the country is quite dependent on exports of other items which are a good thing. As long as the people earn good and businesses are doing well, there is no problem. It ensures that the business minds keep coming up with different and innovative ideas and solutions.
  • The best way to invest in South Korea is making use of exchange-traded funds (ETFs) which can easily provide you with diversification in the U.S. stock exchange.

When the country is performing well, then you know that it is stable and growing.

Is communication going to be a problem in South Korea?

Communication plays a crucial and important role for any foreign investor or businessman planning to invest or start his/her own business in any country. In this country, foreigners do not face any communication problems because English is considered as a popular language. Not to mention, the country is already in partnership with the United States of America in the military front and communicating in English is not a problem.

However, when you are planning to settle down here or investing a large amount of your money, then you would be advised to learn the basics of Korean. That is because it is part of their culture. Only the upper and educated class knows how to communicate in English. For example, you will notice that most of the Koreans sharing the same family names.

Supposing you want to hire people for your business, then you are in a big soup, not knowing what to do.

How the people of South Korea are welcoming foreign investors?

South Korean people are smart and intelligent to know that when foreign money comes in to their country, it immensely helps their GDP. Hence they tend to go out of their way in providing whatever help they can to investors. Unlike their Asian counterparts who are very much to themselves, South Koreans are helpful and friendly, which has played a major role in development and attraction of money from other countries.

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