Most people don’t think twice about buying products that bear the label “Made in South Korea.” Indeed, goods produced in South Korea have an excellent reputation, and many US businesses are banking on this trust when sourcing products from the country. Find out why importing South Korean goods is a great choice for your small business.
South Korea is usually among the first countries adopting (or even creating) new technology. Look at the statistics: today, South Korea has the fastest average internet connection on the planet. In addition, South Korea is one of the most connected nations, with over 92% of the population using the internet regularly. South Korean companies like Samsung, LG, and Hyundai produce cutting edge electronics, vehicles, kitchen appliances and much more.
South Korea is usually among the first countries adopting (or even creating) new technology
But internet penetration is not the only thing defining South Koreans: they are avid smartphone and credit card users as well. Similarly, smart home applications are expected to double in the next few years, and the list just goes on. No wonder South Korea is called the world leader in technology.
South Korea has a reputation of producing high-quality goods in several market segments. Cell phones, computers, vehicles, machinery, cosmetics, robotics, air conditioners, kitchen appliances, processed food, and fashion apparel are just a few examples of high-quality South Korean products that sell exceptionally well on the global market. If your small business sells high-quality consumer goods, sourcing products from South Korea is definitely the way to go.
Extreme work ethics
South Korea is one of the most hardworking nations in the world. According to a government statistic, many South Korean employees work more than 44 hours per week, and tend to get less than 6 hours of sleep at night. The reason behind this is ingrained in the country’s culture. South Korean business culture is based on loyalty, trust, and diligence. Since employees view their company as an extended part of their family, doing their utmost for the success of the company is quite common in South Korea. This dedication, paired with high-quality education and research, results in world-class products and services.
South Korean business culture is based on loyalty, trust, and diligence. Since employees view their company as an extended part of their family, doing their utmost for the success of the company is quite common in South Korea
If you’re looking for South Korean suppliers, make sure to read our comprehensive guide and learn everything you need to know about regulations, business culture, and much more.
South Korea is often referred to as one of the world’s most innovative countries. Both the government and businesses spend a lot of funds on research and development, which results in ground-breaking innovations in various sectors, including automotives, cell phones, skin care products, and computers. Importing high-tech electronics or other goods from South Korea is an excellent choice for your small business.
How to pay for your South Korean goods
Since South Korea is big on innovation, why not impress your South Korean supplier by paying them through Veem? Due to its unique multi-rail technology, Veem allows you to send and receive international transfers as easily as sending an email. Veem connects sender and receiver, creating a global business network that opens the door to a lot more advantages besides simply forwarding payments.
Veem cuts out the middlemen, which means there are no unexpected delays and absolutely no uncertainties about the process. Both sender and receiver are privy to all major information about the payment, including scheduling, amount, and fees. Sign up with Veem and enjoy hassle-free international transfers.