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Why Breaking into the Korean Beer Market is Difficult
The Korean beer market is seen as one of the largest beer markets in Asia. This might be surprising due to the population size which stands at 52 million and is known mainly for consuming soju. However, Korea ranks inside the top 20 when it comes to beer consumption. Beer is the most consumed…
The Aerospace Industry in Korea on a Trajectory for Higher Growth
South Korea has been aggressively building up its space program. The aerospace industry in Korea is now bigger than ever. The aim is to attract global partners and venture into the space economy. South Korea is not alone, 13 other countries have established their own space agency over the past…
Korean Cosmetic Industry – Overview of the K-Beauty Market
Due to the rise in demand for K-Beauty products in the United States and Asia, exports of cosmetics in Korea went up 16% in 2020 to $7.5 billion. The data was collected by the Korea Customs Service and the Korea Cosmetic Association. This means that South Korea is currently the 9th largest…
Clova by Naver – The Siri of South Korea
The AI technology sector in Korea is on the rise. AI is now incorporated into smartphones via virtual assistants such as in the case of the iPhone's Siri. South Korea has its own "Siri" and it is CLOVA, a virtual assistant developed by Korean Internet giant Naver. Most global IT companies have…
The Electric Vehicle Industry in Korea – 3 Million EVs by 2025
The South Korean government plans to invest heavily in the electric vehicle (EV) industry in the coming years. The electric vehicle industry in Korea is in massive growth thanks to the support of the government. They will be incorporating the same low-emission subsidy/tax credit strategy used by…
