2. Main Industry Sectors
Economic Overview
Foreign Direct Investment [FDI]
FDI Government Measures
Country Strong Points
Country Weak Points
Foreign Trade Overview

3. The primary sector in South Korea is weak, counting only with a negligible contribution to the
country's GNP.
Rice is the main agricultural crop.
Barley, wheat, corn, soybeans, and sorghum are also extensively cultivated. Likewise,
livestock farming is done on a large scale.
South Korea's mineral resources are limited to gold and silver.
South Korea's main sectors of activity are textile, the steel industry, car manufacturing,
shipbuilding and electronics.
South Korea is the largest producer of semiconductors in the world.
The manufacturing sector represents about 35% of the GNP, while the tertiary sector
accounts for more than 60%.

4. Ranking fifteenth in the list of the world's largest economic powers, South Korea has
shown a spectacular growth over the past thirty years.
Due to its strong incorporation into international trade and finance, South Korea was one
of the most affected countries in Asia by the international financial crisis.
South Korea’s GDP growth fell from 5.1% obtained in 2007 to 0.2% in 2009.
South Korea was, nevertheless, one of the first economies to get out of the crisis, its
recovery was strengthened by the dynamic growth in exports and an important
budgetary and currency stimulus plan.
Displaying a remarkable force, the country's growth attained 6.1% in 2010, according to
the estimations, and it should remain at a high level.
Once the economy started to grow again, the government has started to withdraw
progressively all the exceptional measures adopted during the crisis.
In order to reinforce the activity, the country must succeed in controlling the increment
of public expenditures to be able to balance the budget, following the fiscal reform
which intends to establish a system more favorable to the country's growth.

5. The authorities must also supervise that this negative impact of restructuring the
enterprises in the financial sector remains limited, continuing at the same time the
structural reform that aims to maintain the growth during an average period.
The government's fixed objective is to bring the budget deficit to 0.5% in 2013.
South Korea has to deal with the structural problems which are: an underdeveloped
financial market, the rising of household's debts and the ageing of the population.
The revenue per capita in South Korea increased from USD 100 in 1963 to almost USD
20,000 today.
The unemployment rate has noticeably increased during the crisis and the number of
irregular workers is very high.

6. Under the effect of the world's recession, the flows of foreign direct investment (FDI) have reduced in
2009; later on, they started to slowly increase again with the recovery, a trend that should be confirmed in
2011.
South Korea's appeal in terms of foreign direct investment (FDI) is the result of the country's fast
economic development and the specialization of its industry in new information and communication
technologies.
The lack of general transparency in regulations is a major concern to foreign investors.

7. Korea has implemented measures in order to protect Foreign Investment:
External Remittance guarantees;
Identical treatment to domestic firms with regard to business operations;
Tax deductions provisions.
South Korean restrictions or prohibitions in terms of foreign investment in sectors of
public administration, educational organizations, national defense, etc.

8. The Korean workforce is highly skilled. The R&D capabilities, as well as
the quality of the infrastructures are deciding strong points for investors.

9. The laws and national regulations are restrictive and the manpower cost
is high.
Private real estate, as well as renting office or shop premises is expensive.
Lastly, competitiveness is relatively restrained.

10. South Korea is the world's 15th trading nation, trade represents about 100% of the
country's GDP.
The trade balance of the country is on a high surplus and should remain so in the coming
years.
Despite the effects of the financial crisis, which have greatly reduced this surplus, the
weakness of the won (Korean currency) encourages exports.
The main trade partners of the country are China, Japan, the European Union and the
United States.

11. Visit us to download for related reports
Market Opportunities of products and Services in South Korea.
Export and investment sector opportunities in South Korea.
Overview of Trade Regulations, Customs and Standards South Korea.
South Korea Investment guide for beginners.
Business and Project Financing in South Korea.
Business Travel Advisory in South Korea.

12.  China  Australia
 Mexico  Germany
 United States  France
 India  Spain
 Canada  South Korea
 Russia  Vietnam
 Hong Kong  Saudi Arabia
 Colombia  Poland
 Brazil  South Africa
 Turkey  Nigeria
 Indonesia  Argentina
 Egypt  UAE
 Singapore  Netherland
 United Kingdom  Sweden
 Italy  Thailand
 Japan  Israel
and more….
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