Korea (Republic Of) Business
• Main imports: Machinery, electronics, oil, transport equipment and organic chemicals.
• Main exports: Semi-conductors, electronics, textiles, ships and cars.
• Main trade partners: China, Hong Kong, Japan, Saudi Arabia and US.
Economy
The Incheon Free Economic Zone (IFEZ) is being built near Incheon International Airport as a business and tourism hub for northeast Asia, and the East Sea Free Trade Zone is also underway in the east coast city of Donghae. The thaw in relations with the North has seen a growth of economic links; 10km (6 miles) north of the demilitarised zone is the new Gaeseong Industrial Complex, which provides South Korean companies with a base from which to access a cheap and hard-working labour market; and North Koreans get a glimpse of economic prosperity.
Unemployment was at 3.3% in 2006, and inflation was forecast to rise to 2.6% in 2007 (from 2.2% in 2006).
Business Etiquette
Office hours: Mon-Fri 0900-1800.
Conferences & Conventions
Korea Convention Bureau
40 Cheonggyecheonno, Jung-gu, Seoul 100-180, Korea
Tel: (2) 7299 5553.
Website: www.koreaconvention.org
Korea Exhibition Centre (COEX)
World Trade Center, 159 Samseong-dong, Gangnam-gu, Seoul 135-731, Korea
Tel: (2) 6000 0114.
Website: www.coex.co.kr
International Convention Centre Jeju
2700 Jungmun-dong, Seoguipo City, Jeju-do 697-120, Korea
Tel: (6) 4735 1000.
Website: www.iccjeju.co.kr
Business Contacts
45 4-ga, Namdaemun-ro, Jung-gu, Seoul 100-743, Korea
Tel: (2) 6050 3114.
Website: www.kcci.or.kr
Korea Trade Centre in the UK
1st Floor, Brettenham House North, Lancaster Place, London WC2E 7EN, UK
Tel: (020) 7520 5300.
Website: http://english.kotra.or.kr
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