You are here: Home › South Korea 2018

South Korea: Persistent optimism over the economy

Despite the occasional outbreak of political turmoil, South Korea has displayed structural stability that allowed its admirable rise as a formidable economic power both in Asia and the world. And defying fears over the geopolitical situation on the Korean peninsula and the recent rise of protectionist rhetoric, the South Korean economy continues to provide new investment opportunities.

The Korean Electronics Association (KEA) can attest to this fact. Founded in 1976 to support the electronics and IT industries, KEA has worked closely with the government in promoting South Korea’s reputation as a leading manufacturers of consumer electronics and home appliances in the world.

Today, it plays a pivotal role in helping its members adapt to the growth of the Internet of Things, artificial intelligence, 3D printing, big data and supply chain. Aside from laying the foundation for investments in these new fields, KEA is also fostering research and specialization in universities to drive innovation.

With KOFIA Chairman Kwon Yong-won

“Conversations are getting important in terms of AI and IOT. KEA is cooperating with Samsung and LG, as well as with SMEs, and vehicle and telecommunication companies. This cannot be done by a single company, but we are trying to be the bridge,” KEA President and CEO, Nam In-sum said.

The financial sector is also experiencing a new period of growth. The Korean Financial Investment Association (KOFIA) is working together with the government and the private sector to create an environment that will bring in more foreign investment.

As the financial industry’s only self-regulatory group, KOFIA advocates for fair, market-friendly regulation, which will spur further growth in the industry. To complement KOFIA’s efforts, the government spurs innovation through subsidies and policy changes. As Korean firms pursue increased globalization and more modernization, securities firms have started licensing their trading systems to companies in Southeast Asia. These systems allow individual investors easy access and encourages fintech companies to pursue joint development with financial firms.

With AmCham Korea CEO James Kim

However, huge challenges remain, among them the difficulty of navigating the so-called fourth industrial revolution. To address the issue, some global advisory firms have adopted blockchain technology to attend to a wider base of customers through secure services.

“I am very positive about the outlook for Korea and I believe, we can counter these issues and maintain the dynamics of Korea,” KOFIA Chairman Kwon Yong-won said.

KOFIA will recommend improvements in laws, regulations, and tax policies surrounding financial investment as it boosts competitiveness through digital innovation and promote free trade.

Another advocate of globalization is the American Chamber of Commerce in Korea (AmCham Korea), the country’s largest foreign chamber with more than 700 members.

“Part of our job at AmCham is to help U.S. companies here in Korea and, at the same time, promote Korean companies investing in the United States, which will create jobs for Americans,” AmCham Korea CEO James Kim said.

All the Posts:

Featured:

A new heart of growth in South Korea

A new heart of growth in South Korea

By Kim Vidal - Apr 13, 2018

KITA: A staunch advocate for free trade

KITA: A staunch advocate for free trade

By Kim Vidal - Mar 12, 2018



SECTIONS:

latest special features:

Upcoming Reports from

Australia 2018

See Preview »

Global Media Inc. and Foreign Affairs, following the successful 2012 report, return to Australia this year, to highlight the country's increasing i...

Ireland 2018

See Preview »

The Japan Times, in partnership with Global Media Inc., is tentatively set to publish a Special Report on Ireland in October. The report will celeb...

Eastern USA 2018

See Preview »

Stretching from Virginia to Maine, the Mid-Atlantic and New England states were part of the Thirteen Original Colonies that declared independence f...

U.S. Great Plains 2018

See Preview »

2018 is an exciting year for the Great Plains because Omaha, the capital of Nebraska, hosts the 50th anniversary of the Japan-Midwest Conference. T...

South Korea 2018

See Preview »

As one of Asia’s most stable and most dynamic economies, South Korea maintains its status as a global leader because of its commitment to free trad...

Texas 2018

See Preview »

The fourth-largest source of foreign direct investment in Texas, Japan has accounted for for more than 200 investments and projects over the last d...




  • Global Media is your partner in reaching a powerful international audience through high-level economic reporting.

    Our ambition is to highlight under-reported developments and opportunities around the world, and allow leaders in these regions and sectors to take their message to the highest global level. We partner with top media to communicate with the world’s most powerful audiences. We specialize in communication and branding initiatives that help our clients effectively get their messages to their existing and potential partners. We achieve results for our clients by introducing them and their initiatives to an audience of elite international business and government leaders.

    Global Media Inc. is an independent media agency with offices in Hong Kong and Canada. GMI has more than a decade of experience in the writing, researching, and production of promotional country reports, with media partners from East Asia to North America. We have teams worldwide that develop country and thematic reports on the latest economic trends and developments.

    We are a media partner of Foreign Affairs,the United States’ most influential publication, published by the New York-based Council on Foreign Relations.

    Nearly a century old, there isn’t a more influential or higher-reaching publication in the United States than Foreign Affairs. The journal is ranked #1 in influence by U.S. opinion leaders in a recent nationwide study conducted by Erdos and Morgan, the premier business-to-business research firm. Their findings place Foreign Affairs ahead of all media, both print and broadcast, including The New York Times, The Wall Street Journal, The Economist, and The Washington Post.

    Testimonials:

    “We were extremely impressed with how efficient, well-coordinated, responsive and reliable the Global Media Inc. team was. We owe them a lot for their professionalism. We were very pleased with the outcome, and the article was very well-written. We hope to have an opportunity to work with Global Media Inc. again in the near future.� – Japan Airport Terminal Co. Ltd.
    “The Global Media team’s professionalism was excellent. Their team was great and always gave us the right suggestions and information. The product was excellent, and we were very happy to have such a great opportunity working with their excellent team.â€� – National Graduate Institute of Policy Studies (GRIPS)
    “We were honored to be chosen as one of the good universities in Japan. This article conveyed Seigakuin University’s educational ideals and the message from President Akudo. The advertisement was conspicuous and gave a good impression that Seigakuin nurtured students to contribute to world peace. We really appreciated what Global Media Inc. had did for us.â€� – Seigakuin University

    Whom we have featured:

    • Australian Prime Minister Julia Gillard
    • Australian Foreign Affairs Minister (and former Prime Minister) Kevin Rudd
    • Japanese Prime Minister Shinzo Abe
    • Qatari Minister of International Trade and Industry Dato’ Sri Mustapa bin Mohamed
    • Japanese Minister of Education, Culture, Sports, Science and Technology Yoshiaki Takaki
    • Taiwanese Foreign Minister Yang Chin-Tien
    • Taiwanese Finance Minister Lee Sush-Der
    • Taiwanese Economic Affairs Minister Shih Yen-Shiang
    • Taiwanese National Science Council Minister Lee Lou-Chuang,
    • Taiwanese Deputy Minister of Transport and Communications Yeh Kuang-Shih
    • Taiwanese Political Deputy Minister of Education Dr. Lin Tsong-Ming
    • Indonesian Ambassador to the United States Dr. Dino Patti Djalal
    • Indonesian Investment Coordinating Board Chairman Gita Wirjawan
    • Philippine President Benigno S. Aquino III
    • Philippine Senate President Juan Ponce Enrile