Editor’s note: This article was first published in July 2011. All figures are for 2010, such as Andalusian exports to Korea of 182.6 million euros, second among Spanish regions, as reported in July 2011.
The sectors offering the most business opportunities in South Korea are agrifood, renewable energy, logistics and defense, according to data from the Andalusian Agency for Foreign Promotion (Extenda). Andalusia doubled its exports to the country over the past year, accounting for a quarter of Spain’s sales to this market.
With sales worth €182.6 million in 2010, Andalusia became the second region in Spain for exports to Korea, growing much faster than the Spanish average for these exports.
Andalusia’s main sales to Korea were mineral products, worth €139 million, followed by fats and oils (€18.6 million) and aeronautical components (€11.1 million).
Behind these sales were 37 companies that, when they saw signs of crisis in their markets, went looking for potential future customers and found them in Korea. Korea also buys from 137 other companies and is open to all kinds of Spanish products and services.
According to Extenda, the main business opportunities, and the products Korea is interested in importing, are olive and vegetable oils, pork, cured meat products, wines, and assorted food products for the hospitality (HORECA) and wholesale channels.
Further reading
- Business opportunities in tourism
- A business opportunity in Dukan diet food
- Business ideas related to art
Featured image: Martin Pueschel Eastberliner, CC BY-SA 3.0, via Wikimedia Commons.
