News story

Big export opportunities for UK companies in South Korea

Britain’s ambassador to South Korea will be speaking at events in Bristol and Southampton about business opportunities in South Korea.

Ambassador Scott Wightman
Ambassador Scott Wightman

Her Majesty’s Ambassador to the Republic of Korea, Scott Wightman, is visiting the UK in September to speak at business events during a 2 city tour. He will be accompanied by David Lee, Chief Executive Officer (CEO) of the British Chamber of Commerce in Korea.

The ambassador will provide advice on the vast business opportunities available in what is the world’s 12th largest economy. South Korea is the fourth largest economy in Asia and the third biggest destination in Asia Pacific for UK goods exports (excluding Hong Kong).

Ambassador Scott Wightman said:

South Korea is one of the fastest growing and most exciting markets in the world, and there has never been a better time for UK companies to do business there. The recent EU-South Korea Free Trade Agreement (FTA) has resulted in the vast majority of tariffs being removed.

Opportunities for UK companies in South Korea

The demand for UK goods in South Korea has risen 232% over the past 10 years.

South Korea’s service industries are also opening up as the FTA is being implemented.

Ambassador Scott Wightman said:

Opportunities exist across all sectors, from advanced technology through food and drink to Legal services and of course marine. British quality is very much in demand and I am keen to help the region’s companies understand the opportunities for them in Korea right now.

While at an early stage of growth, the Korean leisure marine industry is currently experiencing rapid development, which could lead to significant potential for firms in the UK. Koreans have tended to take their leisure time and hobbies very seriously and this of course means a commitment to purchasing the best goods and products. With over 2,000 km of coastline the environment is there for this industry to prosper.

Read our Exporting to South Korea guide for more information on opportunities in this market.

South Korea business events

The ambassador will be speaking at events on:

UK Trade & Investment (UKTI) staff will also be available to provide advice on a one-to-one basis and help businesses assess their chances of success in this market. Delegates will also be able to find out how UKTI can provide support with:

  • identifying new business opportunities
  • arranging meetings with key business contacts
  • carrying out detailed market analysis
  • finding potential agents, distributors and partners
Published 28 August 2014