Opportunities to sell via Ecommerce to South Korea
Join DIT South West for our exciting new event to get you ready to export to South Korea. Learn about the opportunities the market could offer for your business and receive valuable insights on consumer behaviour and market entry strategies via Digital Commerce.
What will I learn?
During this free, online webinar you will learn about the ways in which DIT can support you in the pursuit of overseas opportunities in South Korea. Topics that will be covered include:
• Market size and potential
• Routes to market via marketplaces
• Website localisation through 3rd party providers which manage returns
• Fulfilment via 3PL (third party logistics) to South Korea and how to increase basket size
• Understanding the importance of digital contracts
Who is this event for?
This event is suitable for any companies interested in selling via Digital Commerce to South Korea.
Why export to South Korea?
South Korea’s economy has made a rapid recovery since the pandemic, and the thirst for luxury, prestige and premium brands is as strong as it was in 2019, making it a brilliant option for exporters.
South Korea is currently the tenth largest economy in the world with a GDP of $1,568,786 million (IMF estimates, 2020) and has been one of 10 fastest growing markets for UK exports of goods and services. In the four quarters to the end of Q3 2020, UK exports to South Korea amounted to £7.1 billion. The UK South Korea Continuity Free Trade Agreement became effective on 1st January 2020.
Demand for UK Goods
The South Korea public has a taste for British culture and a respect for UK goods. Many well-known UK brands like Standard Chartered, Jaguar Land Rover, Lush, and Burberry are already selling in South Korea.
The Korean New Deal, announced in 2020 plans to invest approximately £100 billion to create 1,901,000 jobs by 2025 based on two main policies, the Digital New Deal and Green New Deal. This presents opportunities in sectors of UK strength.