Northeast Asia - EAC International Consulting

Korea and Japan are the sales markets of the future for high-tech goods

"Japan and South Korea are aiming for the transformation into digital societies in the coming years. By leveraging advanced technologies such as artificial intelligence, 5G networks, and smart infrastructure solutions, both countries aim to modernize their economies and enhance quality of life."

Daniel Berger

PARTNER EAC SHANGHAI

North East Asia

Japan and South Korea address demographic, geopolitical, and economic challenges through innovations in technology, sustainability, and strategic

Japan and South Korea are characterized by highly developed economies and continue to maintain a high level of innovation. For foreign companies, opportunities lie primarily in innovative sectors such as green technologies and digital business models. Both countries offer access to modern consumer markets and strategic partnerships in Asia. Key challenges for foreign companies remain bureaucratic hurdles, cultural differences, and intense competition.

South Korea is currently the 12th largest industrial nation in the world by GDP and has gone through an impressive economic transformation. Within only two generations, the country has transformed itself from one of the poorest nations in Asia into a flourishing economic powerhouse with the automotive, electronics and semiconductor industries at its core. South Korean companies such as Samsung, Hyundai and LG are world famous, and in some cases, global leaders. One of the fundamental characteristics of the South Korean market is its markedly pronounced protectionism, making a market entry for foreign companies considerably more complicated. For that reason, it is vitally important to develop a market strategy that is both appropriate and flexible in order to ensure lasting success in this up-and-coming country. Having successfully completed numerous projects in South Korea, EAC is highly familiar with market specifics of the country and can support its clients on a range of projects. The spectrum of subjects covered is, as in China, connected with our core competencies, and ranges from tailor-made market entry strategies to M&A activities. Furthermore, EAC has an extensive network of employees and partners in South Korea and therefore can offer flexible and direct support on the ground.

In contrast to South Korea, Japan has been a significant element of every corporate strategy covering Asia for many decades. Currently the third largest economy in the world, it still offers attractive opportunities for foreign investors. Particularly for the central European engineering and chemical industries, Japan is an attractive location to do business. As with South Korea, Japanese firms are among the world’s leading companies, particularly in technology industries such as the automotive sector and electronics. The Japanese vehicle manufacturer Toyota, for instance, is the world’s second largest carmaker and has only recently been surpassed by the German number one, Volkswagen. Although Japan’s economy is currently going through a phase of transition, there are still good reasons to have a presence in the land of the rising sun. Currently less important sectors of the Japanese economy will gain significant market opportunities and so create an environment conducive to further growth.

In order to be able to recognize at an early stage where there is potential for such growth, it is vital to identify the relevant market signals and interpret them correctly. Therefore, in-depth knowledge of the market and experience in dealing with Japanese businessmen are vital core competencies that contribute to overall success. Since 1998 EAC has been supporting its clients in Japan, and, over time, has gained an in-depth understanding of the complex Japanese market structures. The project tasks have ranged from individual evaluation of Japan as a company location to assessment of the strategic importance of the country in the context of an inter-regional Asian concept. Thanks to many years of project experience in the strategic and operational fields as well as in M&A, EAC can offer solutions for Japan as a business location that are both implementable and effective.

„Investitionen in IoT, 5G und intelligente Städte stehen in Südkorea ganz oben auf der Regierungsagenda und rechtfertigen die Position des Landes als eine der innovativsten Volkswirtschaften der Welt.“