South Korea’s trade minister has pledged to ease investment regulations and promote FDI in the country.
Latest articles from South Korea
The hotels and tourism sector has been hit hard by the global financial crisis but, finds Michal Kaczmarski, some companies are still expanding, with opportunities in the Asia-Pacific region proving particularly enticing.
The annual Cities of Opportunity Index by consultancy firm PricewaterhouseCoopers ranked London as the leading city.
South Korea's taste for Western consumer goods has made the country a key Asian market for companies in this industry from North America and western Europe, as shown by Kimberly Clark's decision to locate a global innovation centre there.
While South Korea's ageing population is causing ripples of concern for the country's politicians, it is providing a boon for its many healthcare companies. This, along with moves to establish South Korea as a key destination for health tourists, is giving both domestic and international investors in the country cause for optimism.
The economic rise experienced by South Korea in the latter half of the 20th century has stagnated along with a slump in exports. However, to augment its strengths in manufacturing and technology, the country is embracing the tourism industry, with some notable success.
South Korea's economy has flourished in the past few decades, thanks in no small part to the success of global conglomerates such as Kia, Hyundai and Samsung. But does the dominance of these companies stifle competition in the country, and make it vulnerable to a global downturn?
South Korea has the unenviable task of setting itself up as an investment destination that can challenge nearby heavyweights China and Japan. However, the innovative use of free-trade agreements and pro-business policies are helping the country establish itself as a gateway into north-west Asia.
Over the past decade, the South Korean government has attempted to diversify its economy and lessen its reliance on exports through the development of eight free economic zones, each with its own specialism. Barbara Njau reports on their progress.
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