Exporting to South Korea
Export opportunities for Spanish companies in South Korea
- Eighth country worldwide in international reserves and fourth economy in Asia.
- One of the main issuers of direct investment in the world.
- Quality receiver of direct foreign investment.
- South Korea is one of the main Asian investors in Spain.
- Very attractive domestic market for consumer goods.
- Stable, developed and reliable legal system.
- Open, liberal and solid economic and financial system.
- It is a country that promotes partnerships with foreign companies for R&D exchange.
- In certain areas, local companies have an advantage (civil engineering, infrastructures, etc.).
- System of doing business strongly linked with their idiosyncrasy.
- There are 27 sectors off limits to foreign investment.
- Consumer goods.
- Construction materials.
- Automotive components.
- Chemical/pharmaceutical sector.
- Tourism, leisure.
- Renewable energies.
- The South Korean GDP will grow at rates above 3% in the coming years and the country will be positioned as world leader in certain consumer electronics articles.
- Possible risk of a property bubble as a threat to the growth and stability of its financial sector.
- It is envisaged that relations between South Korea and North Korea will continue to be tense and unstable.
Nanjing West Road N1038
West Gate Mall 1605A, Jing’an district
Manager: Guillermo Díaz Sevilla
Tel.: (+86) 921 62718347
Form of government
South Korean won (KRW)
1 dollar = 1.060 KRW (January 2014)
1 euro = 1.449 KRW (January 2014)
- Buddhism (43%)
- Protestantism (35%)
- Catholicism (21%)
50.04 million (December 2013)
From April to September: +7 hours; from October to March: +8 hours
Banco Sabadell in South Korea
Since the year 2005, Banco Sabadell has been covering South Korea from its regional office for the north of Asia in Shanghai.
Banco Sabadell in Shanghai is a correspondent bank for the entire Korean banking system where, furthermore, it maintains excellent professional relations, currently being renowned as a leading bank regarding business management, and international trade linked with South Korea.
Banco Sabadell has lines of financing for medium and long-term projects granted to Korean banks, just as Korean banks have granted extensive lines of financing to Banco Sabadell.
- Advice on the establishment of Spanish companies in Korea, providing a specialised and individualised service.
- Monitoring of foreign trade operations with South Korea: imports and exports through the relationship developed with the local banking system.
- Support for projects and tenders through the issuing of references and guarantees issued to local banks.