Feature
Issue No. 36 - August/September 2007
My brilliant Korea
Despite being Australia's third largest export destination, the Republic of Korea is often misunderstood and underestimated by Australian companies seeking to sell there.
Dr. You-il Lee, who heads the University of South Australia's Master of International Business Program at the International Graduate School of Business, and author of a book, The Korean Economy: Challenges of FDI-Led Globalisation (Edward Elgar: England, 2007), hopes to lift the blinkers when he discusses Korea's globalisation at International Business Week. “Little is known in the Australian public domain about Australia-Korea trade relations and the Korean market itself,” he said.
“In particular, the Australian business community knows little about the importance of the Korean market and its opportunities. My presentation will offer an analysis on the nature of invisible obstacles as well as the prevailing opportunities in the Korean market.
“It will also provide an in-depth understanding of the major socio-political and economic changes at work in Korea and suggest mechanisms that can deliver rapid growth.”
The figures about Korea's importance for Australia speak for themselves.
In 2006, Australian exports to Korea exceeded $12 billion, making the republic this country's third largest export market in 2006 behind Japan and China. Korea is ahead of better known export destinations such as the US, New Zealand, India, Taiwan and the UK.
Austra...
