Bilans d’évènement • Secteurs & marchés • La Chambre
Webinar "Expand your business to Korea" with APEX
On May 25, experts from FKCCI were invited by APEX to present the opportunities of the Korean market to French exporters!
On May 25th, invited by APEX, a club for French companies from the PACA region in Southern France going international, our experts at the FKCCI Cedric LEGRAND (Managing Director) and Sonia Chaieb, (Sales Executive) covered a wide array of topics to present the opportunities of the Korean market and its promising sectors.
A positive context
With its growing influence in Asia, South Korea is an important crossroad between China and Japan. Therefore, Korea is the ideal market for businesses looking to expand in the region and test their products in Asia. Newly placed the 10th biggest economy in the world, with a GDP of 106 trillion USD in 2020, as well as its willingness to flourish economically through the massive economic recovery plan “New Deal”, it is a strategic move for foreign businesses to make Korea a regional basis. Especially in times of pandemic, as South Korea proves overall a great sanitary situation thanks to its reactive and pragmatic actions. Moreover, many of the reasons why Korea has a strong potential is thanks to the steady rise of optimism among Korean consumers, as consumption expenditures rose by 0.8% in the first quarter of 2021.
Sectoral focus
Promising sectors include the food and cosmetic industries. Both benefit from the positive image “Made In France” has on the Korean consumer, which proves to be efficient. As for the food industry, France is the 13th international provider and places 3rd amongst EU countries in supply. The biggest selection of imported products includes dairy, meat and wine. An increasing number of food companies settle or export in Korea because consumers are curious and open to trying new products, making Korea an attractive destination filled with business opportunities for foreign food companies.
Moreover, the cosmetic industry in Korea is ranked 8th in market share of global beauty industry and is steadily expanding. The aging population as well as the strongly embedded idea that one needs to take of oneself opens many doors for cosmetic brands to flourish in Korea.
Testimony of a French company established in Korea
To gain further insight on Korea and its market, watch the webinar featuring Barthélemy Gros, commercial representative of ECM Technologies in Korea, who shares his business experience in Korea. He explains what it is like to work with big Korean corporations like Hyundai Motors and gives practical advice for newcomer businesses. Other topics such as Korea’s population, society, labor trends, exports and consumption channels were explored during the webinar. Watch on YouTube :
The FKCCI is committed to developing and maintaining the thriving business relationships between France and Korea. For timely information and a personalized assistance to your business journey in Korea, do not hesitate to contact welcome(@)fkcci.com or fill in our contact form.
