Updated: Jun 1
International companies looking to enter the fruitful Korean business world should be aware of the institutions and government support available throughout the process to alleviate the transition. One corporation spearheading international entrance into the growing South Korean economic powerhouse is the Seoul Global Center.
The Seoul Global Center (SGC) is a government organization that supports and assists foreign residents, visitors, and companies in Seoul. It may be daunting for international companies to enter a foreign business world without extensive knowledge or assistance. The Seoul Global Center actively supports international companies by providing legal and administrative support, business consultations, and market research to help them acclimate to South Korea while reaping the business potential available.
Companies looking to enter Korea must complete the necessary business procedures to register and license their company. The SGC helps companies navigate these processes through individualized consultations with experts to provide specialized guidance on legal and administrative procedures, licensing requirements, and regulations to set up and operate a business.
The SGC also compiles information on foreign investments and start-ups to ensure corporations know about market research reports, data, and insights on various industries. Other provided opportunities, such as business training and seminars, help international companies stay aware of the market climate and prepare them to handle it in the future. Foreigners can use these events to stay informed by understanding trends, consumer behavior, and the competitive landscape of South Korea.
International companies partnered with the Seoul Global Center receive continuous support to ensure they are resilient and acclimated to the dynamic Korean business climate. One way they promote longevity is through networking opportunities. SGC's four business centers host events, seminars, and workshops to facilitate connections between foreign and domestic companies, government agencies, and potential partners and employees. Corporations are also connected with local counterparts with similar interests and objectives to build business relations, foster collaboration, and expand networks.
Another way international businesses are assisted in the early stages of their company is through workforce recruitment and training. Support through specialized training and experience programs prepares companies to understand Korean business culture and practices. Korean language classes and cultural programs are also available to assist in adapting to local environments. By bridging the language and cultural differences between domestic and international companies, SGC helps to ensure smoother global integration into local markets and enhances communication, relationships, and business interactions.
Since its establishment, the Seoul Global Center has assisted individuals from countries such as Singapore, New Zealand, France, and the United States in founding successful wholesale, retail, information-technology development, and consulting businesses.
Containing the 10th-largest GDP economy with Seoul as the fourth-largest metropolitan in the world, South Korea is a growing epicenter for future development, commerce, and international investment. The Seoul Global Center is only one example of how South Korea promotes and ensures international businesses are prepared and supported when investing and entering their business market.
For further information about the Seoul Global Center and how it supports international companies, please visit its website here.
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