Business opportunities in the Korean market

Business opportunities in the Korean market

 

Food and Agriculture

Opportunities exist for overseas companies in food and agriculture, such as wine, nuts, dairy, meat, and fresh fruits. Korea is highly dependent on food imports, and foreign food businesses are well regarded in Korea as suppliers of high-quality and safe food products. The Korean food market is also rapidly evolving, driven by changing consumer tastes and expanding distribution channels all around the world.

 

Financial & Investment services

Koreans are very interested in investment. They are particularly interested in real estate and stock investing. And they are still investing generally in domestic stocks and domestic real estate investments. However, since they are gradually showing a lot of interest in overseas stocks and overseas real estate investment, it will be a good opportunity to start a business that provides related investment products in Korea. The key will be, in particular, how reliable the overseas real estate investment product is.

 

Education

Korea is a stable and well-established market for foreign education providers. Korea is the fourth-largest country wishing to study abroad after China, India, and Vietnam. Thus, Korea is a good business country for companies that provide study abroad services.

 

Health, anti-aging care, and biotech

Korea’s population is aging rapidly, faster than most other OECD countries. This is the result of increased life expectancy and one of the lowest fertility rates in the OECD. Opportunities exist in areas including health and anti-aging care services, pharmaceuticals, and advanced medical equipment.

 

ICT digital content and services

Koreans are among the world’s biggest users of fast broadband and mobile phones. Korea was the first country to build a national, high-speed fiber broadband network (more than ten years ago), and has a mobile penetration rate of 1.1 mobile phones per person - which means there are more mobile phone accounts than people.

If there are overseas companies that make software such as good online games or other specific content well, the Korean market can be a good opportunity.