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Opportunities in South Korea

5 key resources and events to help you plan your 2016 export strategy for South Korea



 

Why South Korea?

U.S. exports to Korea totaled $44.5 billion in 2014, making up 8.6 percent of all Korean imports. Korea is the United States’ seventh-largest export market.

Analtech, a local Delaware business, had great success exporting to South Korea in recent years. Read about how it all started and the growth they’ve seen.

 

5 opportunities for your Delaware business in 2016: 

 

  1. Attend a roundtable discussion on doing business in South Korea: The Delaware State Chamber of Commerce and the World Trade Center Delaware are hosting Tami Overby, senior vice president for Asia at the U.S. Chamber of Commerce. Tami will discuss U.S. trade and investment in South Korea, and how Delaware businesses can get involved. Tuesday, January 12, 2016,  8:30 am – 10:30 am at the Diamond State Port Corporation. Register for the event today!
  2. Talk to your South Korea Trade Rep: Ken Yang connects Delaware businesses with South Korea. He is available to research and identify opportunities, potential partners, and distributors. Connect with him via Global Delaware.
  3. Join the South Korea Trade Mission: Global Delaware is leading a trade mission to South Korea in June. Companies will participate in business meetings with distributors, agents, or customers according to their specific needs in South Korea. An interpreter will accompany you on business meetings along with Global Delaware staff. Let us know you’re interested by filling out the application.
  4. Apply for Delaware STEP grant fundsFunding from the Delaware SBA  can be used to cover international marketing expenses. Whether it’s translation of marketing materials, international travel expenses, or trade show exhibits, you can apply for funding to help cover the cost.
  5. Understand the Korea-U.S. Free Trade Agreement (KORUS FTA): Enacted in 2012, the KORUS FTA allows 80 percent of U.S. industrial goods to be exported tariff-free. Exports are expected to expand to $52-52 billion annually in the next several years. This is a huge window of potential for your business! Read more about the agreement from the Korean Embassy’s Export Team, U.S. Korea Connect.

 

Make 2016 the year you expand your international marketplace. Contact us for assistance with planning, or for more info on any of the resources listed above!

 


Global Delaware: Your partner for export success #ExpandDE 

 

Photo by Kimmo Räisänen is licensed under CC BY 2.0

 


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Export Delaware
Delaware Department of State
820 N. French Street,
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Wilmington DE, 19801

P: +1 (302) 577-8464
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