Korea
SSmsV
SSmsV
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
SURFACE AREA<br />
99,400<br />
square kmS<br />
GDP 2014<br />
US$1.416 trillion<br />
POLITICAL STRUCTURE<br />
STOCK EXCHANGE<br />
<strong>Korea</strong> Exchange (KRX)<br />
OFFICIAL LANGUAGE<br />
<strong>Korea</strong>n<br />
Presidential<br />
representative<br />
democratic republic<br />
GENERAL BUSINESS HOURS<br />
Monday to Friday<br />
9.00 am to 6.00pm<br />
INTERNATIONAL DIALLING CODE<br />
+82<br />
한국어<br />
Contents<br />
1. Introduction 4<br />
1.1 Why <strong>Korea</strong>? 5<br />
Opportunities for Australian businesses<br />
1.2 <strong>Korea</strong> at a glance 9<br />
1.3 <strong>Korea</strong> and Australia: the bilateral relationship 16<br />
2. Getting started in <strong>Korea</strong> 20<br />
2.1 What you need to consider 22<br />
2.2 Researching <strong>Korea</strong> 32<br />
2.3 Possible business structures 35<br />
2.4 Manufacturing in <strong>Korea</strong> 36<br />
3. Sales & marketing in <strong>Korea</strong> 38<br />
3.1 Direct selling 39<br />
3.2 Franchising 40<br />
3.3 Online sales 40<br />
3.4 Agents and distributors 43<br />
3.5 Marketing 44<br />
3.6 Labelling requirements 45<br />
4. Conducting business in <strong>Korea</strong> 46<br />
4.1 <strong>Korea</strong>n culture and business etiquette 47<br />
4.2 Building relationships with <strong>Korea</strong>ns 49<br />
4.3 Negotiations and meetings 52<br />
4.4 Due diligence and avoiding scams 53<br />
5. Business practicalities in <strong>Korea</strong> 54<br />
5.1 Laws and regulations 55<br />
5.2 Import duties, tariffs and regulations 59<br />
5.3 Taxation 62<br />
5.4 Audit and accountancy 69<br />
5.5 Employing workers 71<br />
5.6 Banking in <strong>Korea</strong> 77<br />
5.7 Repatriating profits and getting paid 79<br />
6. Visiting <strong>Korea</strong> 82<br />
6.1 Visas 83<br />
6.2 Currency 84<br />
6.3 Air travel and airports 84<br />
6.4 Ground transport 85<br />
6.5 Hotels and dining 87<br />
6.6 Health and welfare 90<br />
7. Engage with us 96