Despite the economic challenges presented by the COVID pandemic, there are still plenty of opportunities for start-up companies in South Korea. Many of the long-term foreign attorneys in Korea shall advise that South Korea remains a perfect testbed for foreign companies in the East Asian marketplace. Local and national governments remain committed to fostering long-term partnerships with foreign start-ups within Korea. The attorneys at IPG Legal have put together a list of their top tips to help your start-up succeed in Korea. Take advantage of start-up programs
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Korean Smart City Opportunities for Foreign and Domestic Companies Doing Business in Korea
The Korean government’s “2020 Smart Challenge” is officially rolling out with the Act on the Promotion of Smart City Development and Industry of Korea. The Act is coming into effect on Feb. 27, 2020. The Korean government is, specifically, launching three separate projects called: Korean City Challenge Open to large, SMEs and startup companies. Intended to encourage creative and technological solutions to problems in cities. Smart-mobility may be a large focus of the governments initiative. Korean Town Challenge Open to large, SMEs and startup companies. Intended to
Continue readingSelling in South Korea: For your Sales & Marketing in Korea – Distributor Needed? by Tom Coyner
Indirect selling can be one of the least expensive and lowest-risk strategies. Among American firms selling into Korea are offshore companies that use local distributors. Often, foreign companies organically grow their operations throughout Asia by contracting local companies before setting up a representative office and hiring their own local staff. This approach offers obvious advantages, but also contains many hidden pitfalls. Before entering into any kind of international distribution agreement with a Korean distributor, for example, it may be wise to ask oneself just why one is
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