37 
Newsletter 04/02/13
Issue298 Vol.13 Number04
LATEST RESOURCES FOR INTERNATIONAL TRADE PROFESSIONALS
Featured Country
Market Studies
Tradeshows Events
Trade Associations
Marketplaces
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OUR FEATURED COUNTRY: South Korea
Just one year ago, on March 15th 2012, President Obama signed a free trade agreement with South Korea. Thanks to this agreement nearly 80% of customs duties applied to the trade of goods between the two countries has been eliminated and new business opportunities have been created, especially in the financial service sector. It is now time for a first assessment!

During the period from February 1st 2012 to January 31st 2013, U.S. exports to South Korea have decreased by 3% compared to the same period last year, while imports have increased by 4,3% over the same period. South Korea was therefore the United States’ 7th client in 2012 and its 6th supplier, a position unchanged compared to 2011. Korean car sales to the U.S. have reached record figures in 2012: they have increased by nearly 12% compared to 2011. Concerning U.S. exports, the aerospace sector is one of the most promising with more than 1.5 billion USD in sales in 2012 or 78% of total Korean imports in this sector. Another strong point that has come out of this free trade agreement has been the creation of thousands of jobs in the United States. The American administration has indicated that 5,000 jobs have been created for every billion dollars of exports.

Among the many challenges that the United States and South Korea will face in 2013, the repercussions of the ongoing discussions concerning the implementation of a free trade agreement between the European Union and the United States will be of great importance. Indeed, South Korea, that has also signed a free trade agreement with the E.U. in 2011, has everything to gain from the existing commercial barriers between the 2 economic giants staying in place.

> View our complete country profile for South Korea
> Browse 88 more country profiles
MORE USEFUL LINKS

Doing business with South Korea:
> Doing Business in South Korea: 2012 Country Commercial Guide
> South Korea highlights - Ernst & Young
> Embassy of the United States in Seoul
> Doing business in South Korea - PKF International
> Doing Business: data for South Korea

More information about relations between the U.S. and South Korea:
> U.S.-South Korea Trade Facts
> Trade in Goods with South Korea
> U.S. Korea Business Council
> The U.S.-Korea Free Trade Agreement
> The U.S.-South Korea Relations
Your partner for Korea

MARKET STUDIES
Packaged Food in South Korea

South Korea’s packaged food market is ranked 15th largest in the world, with a value of US$20.0 billion in 2010. Rising incomes have driven market growth and pushed consumer agri-food imports to US$5.7 billion. At the same time, consumer demand has evolved with recent socioeconomic changes.

MORE MARKET STUDIES

> Cosmetics, skincare and toiletries market in South Korea
> Quick Look: Renewable Energy Development in South Korea
> The rise of Korean automobile industry: analysis and suggestions

TRADESHOWS & EVENTS
International Green Energy Expo 2013

Green Energy Expo is the Korea's largest and Asia's leading renewables event. It will take place at Daegu Exhibition & Convention Center from April 3 to April 5, 2013.
MORE TRADESHOWS & EVENTS

> World IT Show Korea
> Korea Pack 2013
> Seoul Adex 2013
> Gwangju International Food Fair 2013
Partner

INTERNATIONAL TRADE ASSOCIATIONS
Korea International Trade Association

An association of more than 60,000 Korean companies that concentrates on expanding Korea's trade relations, developing the South Korean economy and integrating Korea more fully with the international business community.
MORE INTERNATIONAL TRADE ASSOCIATIONS

> Korea Federation of Small and Medium Sized Business
> Korea Association for Information & Communication
> World Trade Organization
> The Korea Chamber of Commerce and Industry

MARKETPLACES
Buy Korea

buyKOREA is a global B2B e-marketplace which supports product search, online transaction, EMS shipping etc. It is possible to check new Korean products which are registered daily and pay by credit cards easily. Real-time shipping status is available in buyKOREA when Korean seller is sending the products by EMS.
MORE MARKETPLACES

> Gobizkorea
> TradeKorea
> TradeKey South Korea
> ECKorea

FIND QUALIFIED SERVICE PROVIDERS
JPA International Korea

The concept of JPA International was developped by Jacques Potdevin and his vision became reality when, in 1987, the network was created in order to help professional accountants members to grow and develop internationally. Initially, the network was European, but it has rapidly spread worldwide.
MORE SERVICES PROVIDERS

> Jy Trading Corporation an expert in B2B Marketing in South Korea
> MNCS Korea an expert in Sourcing Services in South Korea
> Daesin International Transport Co Limited an expert in Freight Forwarder in South Korea
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