South Korea has profiled itself as one of the most developed and influential countries in Asia. With smart and sustainable solutions, South Korea is at the forefront in many segments where Swedish companies can act as suppliers.

South Korea has been one of the fastest growing economies in the world for many years. A strong domestic industry and an attractive consumer base make it an interesting market for Swedish companies.

Attractive market for Swedish companies

Focusing on international trade, South Korea has profiled itself as one of the most developed and influential countries in Asia. The country has entered into free trade agreements that cover many countries of the world, including an agreement with the EU in 2011. Since then, many customs and trade barriers have disappeared. The size and level of development makes the South Korean market attractive for Swedish companies in various industrial sectors.

Potential for sales growth

Today, South Korea is the 11th largest economy in the world and Sweden’s third largest export market in Asia. Being one of the most industrialised countries in the world, South Korea is at the forefront in many industry segments where Swedish companies can act as suppliers. We see opportunities in a wide range of segments such as consumer goods, smart cities, smart industry, manufacturing, healthcare, transportation and sustainable energy solutions. Korea is a global leader in industries like automotive, maritime and offshore, semiconductors and memory chips, chemicals and EV batteries, ICT and consumer electronics. In recent years, the country has also emerged as a strong cultural influencer in the region, riding on the “K-wave”, exporting media content, food, healthcare and beauty products globally.

Tackle the competition

As a Swedish investor, it is good to be aware that South Korea has a well-developed domestic market with established products. Read our Trade & Invest commissioner Johan Chun’s tips on how to tackle the competition below.

How we can help

Business Sweden has been active in South Korea since 1997. Together with our offices in Sweden, we actively support market growth for Swedish companies in Korea and Korean business investments in Sweden. Our services include market analyses, strategic advice, partner search support and last but not least, helping you understand and navigate the local business culture.