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

""Japan aims to transform into a digital society in the coming years. Digitization solutions such as autonomous buses, social robots and intelligent consumption management should help to tackle issues such as water and electricity shortages."

North East Asia

In times when economically established regions such as Europe and the USA are suffering from stagnation, pan-Asian business models become increasingly important.

And so, it is that South Korea and Japan are increasingly emerging as important markets for European high-tech goods, such as those produced by the photonics and automation industries. The fact that South Korea and Japan have many key industries in common with European industry leaders plays an important part in the demand for finished goods and components. Furthermore, both countries are currently intensifying their links with China and are focusing on sustainable improvement in trilateral cooperation. Besides economic aspects, a central feature of the dialogue will involve coming to terms with historical issues. It is important to bear in mind that besides the cultural differences, South Korea and Japan differ in other significant ways – not only from one another but also from China.

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.

„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.“

Daniel Berger