Also in the news...
Brilliant Borders: Kenya's Customs goes digital
A new app will save time and money for big businesses and small traders alike, as a longstanding Kenya-UK partnership further improves cross-border trade.
Yorkshire family brewery taps into new export opportunities with Government guarantee
UKEF support helps Wold Top brewery to expand its exports into new markets.
Bond Support Scheme
Find out about the Bond Support Scheme - how it works, its benefits and how to apply.
UK and African business leaders arrive in Togo to create trade and investment deals
The event brings together delegations from ten African nations alongside leading UK companies and investors to advance partnerships that promote economic growth and jobs.
Countering sanctions evasion: guidance for freight and shipping
For freight forwarders, carriers, hauliers, customs intermediaries, postal and express operators, and other companies facilitating the movement of goods.
Doing Business In South Korea
Nestled between two great powers, Japan and China, South Korea remains off the radar to most UK companies even though it is home to 50 million people generating GNP of US $1 trillion, making it the world’s 12th largest economy – just less than the size of the entire Association of Southeast Asian Nations (ASEAN) and equal to 2% of global GDP.
Sophisticated, affluent, globally aware consumers are eager to experience the latest fashions and products from around the world. Particularly, many South Koreans in their 20s and 30s have travelled internationally and have substantial disposable income. South Koreans are disciplined, hard-working, loyal, motivated, well-educated and eager to excel. Participating in this resilient and vibrant economy is about to become easier with the implementation of the EU-South Korea Free Trade Agreement.
Over the next five years, the South Korean economy is set to make the 10th-largest contribution to world growth. That’s as much as the UK and more than France or Italy. Despite the global economic slowdown, South Korea’s economy grew by 2.8% in 2013, and is predicted by the Bank of Koreato grow 3.8% in 2014.