Korea is one of the most dynamic economies in the entire world. The local authorities promoted the import of raw materials and technology and sacrificed the consumer goods, encouraging savings and investment over consumption. In this article, our company formation agents in Korea present a few of the most attractive investment industries in Korea.
The energy industry in Korea
Korea is a country which depends heavily on imports, such as crude oil for its basic energy supply, since the country does not have its own natural resources. Therefore, Korea is the fifth largest importer of oil in the world. The energy industry is an extremely attractive investment sector in Korea.
To increase the energy self-sufficiency, the country placed a special importance on nuclear energy, solar and wind power.
Korea competes with the biggest leaders in the world in the nuclear energy market. Global interests in the green energy is rapidly growing, and the country is interested in it, as well.
The local authorities have placed an agenda to develop alternative energy and confer financial and political support for businesses which are involved in this sector.
If you would like to open a company in Korea in this sector, our Korea company formation consultants can help.
Innovation and technology in Korea
Korean businesses are especially renowned for their innovative approaches in the electronics, superconductors and carmaking industries.
The country was ranked particularly high in the patent and manufacturing activities in the Bloomberg Global Innovation Index in 2014.
The World Economic Forum praised with great admiration the transport and digital infrastructures of South Korea in a recent “Enabling Trade” report. Our Korea company registration advisors can assist you to set up a business in this sector here.
Moreover, Korea is considered to be one of the better connected societies in the world, ranking the second in the international Telecommunications Union’s recent index of internet access, while its e-government facilities are regarded as a model for other states.
The companies which are based here are some of the most active internationally in terms of registering patents. Multinational corporations have taken advantage from the innovation culture of the country.
For more about investing in Korea, or for help in starting a business in Korea, please contact our friendly staff.