How to do business with Korea

Export Channel
For your export marketing, you should deal with the following channels:

1. Local sales agent(Commission Agent)*in Korea.
   To find a suitable agent, you may contact the Association of Foreign Trading Agents of Korea(AFTAK, Also known as an "offer merchant" in Korea. Tel. 82-2-792-1581)
   
   
2. General Trading Companies(GTCs)
   There are 8 GTCs today in Korea, They are officially designated by the Ministry of Trade & Industry (MTI) based on certain criteria. These GTCs are owned by several internationally well-known conglomerates of Korea. These GTCs are fully-integrated and capable of handing any kind of product on a global basis.
   
   
3. Direct Contact
   You may choose to deal direct with certain manufacturers who are the end-users of your product. However, the customer has to be either a A class or B Class "registered foreign trader." Otherwise, you have to go through another registered trader who will import on behalf of your ultimate customer.
   
   
4. Government Procurement
   The Office of Supply, ROK(popularly known as OSROK) is the Korean government procurement agency. It purchases foreign and domestic supplies through open tender. Invitation for bids is provided to prospective bidders upon request.
   
   
5. Respective Associations
   Channels for buying such agricultural commodities as cotton, wheat, animal feed, corn, soybean and beef are exclusively managed by respective associations on behalf of respective industries.
   
   
6. Trade Shows & Fairs
   Korea Exhibition Center(KOEX), the unique exhibition facility in Korea, is able to accommodate most of trade shows in Korea and hosts over 80 international exhibitions and fairs annually.
   

4. How to Import from Korea

1. You may choose to appoint your own Buying Agent or set up a Liaison Office or a large scale Buying Office to look after your buying program for such goods as apparel, houseware, toys and so forth.
   
   
2. You may deal with GTCs as you do on exports. We suggest that you contact nearby branches of Korea's GTCs or other Korean companies there.
   
   
3. For the usual industrial products, one would deal directly with manufacturers who are "licensed" to export in most cases.
   

For any trade inquiry or further information, please write to: Trade Inquiry Office (Fax: 82-2-551-5100, Tel: 82-2-551-5267/8).

5. Korea's Global Trade

As her economy expanded, its import demand for foreign products also has increased steadily. Her import volume reached almost US$ 82 billion in 1991. South Korea accounts for about 2% of the world import market, being the 11th largest importer in the world.


For further information, please mail to stwheel@sol.nuri.net

159-1 Samsong-dong Kangnam-gu Seoul, Korea
zip code 158-729, phone 82-2-551-0114, fax 82-2-551-5161