Writer 관리자 Date 2012-09-28
 Title Why Korea-Market of Opportunities
 Content 1.The Korean Market

With a population of about 50 million and GDP in the range of US$1.16 trillion as of 2011, Korea has a huge market. Its GDP per capita is $22,778, and the population has very strong purchasing power. In fact, the high-end Korean market is recognized as the global trend-setter. Its response to new products affects many companies' marketing strategies for not only China, Japan and ASEAN member nations, but also for Europe and other parts of the world.

2.Korea's Neighboring Markets

Northeast Asia has now become one of the three global economic pillars, along with the United States and Europe. Geographically, Korea is situated at the center of air and maritime transportation networks in Northeast Asia. There are 61 cities with a population of more than 1 million within a 3-hour flight from Seoul. Also, Korea, Japan and China boast a combined GDP of about $14 trillion. Their total population exceeds 1.52 billion, or 22% of the global population, and their trade volume is $5.32 trillion, or 17.6% of total world trade.

3. Korea's FTA Markets

Korea has signed free trade agreements with the EU and the U.S., and they went into effect in 2011 and 2012, respectively. As of June 2012, Korea has signed FTAs with 45 countries including ASEAN, the European Free Trade Association (EFTA), India and Peru, while FTA negotiations between Korea and China are underway. The economies of the countries with which Korea has signed FTAs account for 61% of the total global economy and are home to 36.2% of the world's population.

It is quoted from http://www.investkorea.org/