South Korea has one of the fastest growing and most hi-tech economies in the world
South Korea has among the fastest-growing & most hi-tech companies on the planet. So it’s an incredibly attractive market for SMEs (small and medium-sized) European firms specialising within the newest technologies.
Because of their knowledge in ultrasonic suspension technology for non-contact handling of area- delicate and sensitive items, one German SME has become dealing with among the biggest hi-tech businesses in Korea.
The organization continued three business visits organized from the EU Gateway Program, planning that has served them well, to organize for creating their business below.
Josef Zimmermann, the managing director of ZS-Handling, defined: “It meant we’re able to improve our Japanese marketplace general return from zero to 25 percent within twelve months. Additionally, growing our team from 11 to 20. And we are able to tackle all our target sectors: system displays.”, semi-conductors and solar energy
“increase our Korean market general return from zero to 25 percent within one year”
Among the secrets to success was determining the best companion in South Korea. Therefore his group and Josef Zimmermann caused a company that has been proven in the united states for 55 years, and it has an in-depth understanding of the hi-tech field there.
Because 2009, 350 businesses, many of them SMEs, took part within the EU Entrance Program in Korea. Over these week-long business trips, members get financial aid, details about their goals about the Japanese marketplace, and undoubtedly prospective lovers were met by them. The outcomes are exceptional.
a local partner is found by “60 percent of participating businesses through the programme”
Among the designers of the task in Korea is Paolo Caridi, EU Delegation for the Republic of Korea, who stated: “For me you will find three important numbers: over 60 percent of participating businesses look for a local partner through the program, 1 / 2 of them choose to purchase targeting the Korean marketplace, and 25-percent of these improve their return because of the programme.”
Work at home opportunities in Korea are extremely appealing to European SMEs, and trading contracts will also be very useful based on Paolo Caridi: “We possess a free-trade arrangement – alone having an Asian nation. This contract has already established an enormous effect: from 2011 to 2013, exports increased by 24 percent, as well as for the very first time in 15 years we’ve a surplus trade balance with South Korea.”
Summing-up, Josef Zimmermann of ZS-Handling stated, “For me, you will find three secrets to success: become informed that it requires time for you to enter the market.”, find the correct companion that suits you correctly, and determine clients and your industry