News

• 11 April, 2017

Originally published at https://www.si21.com/Gospodarstvo/V_Juzni_Koreji_in_Kambodzi_stevilne_priloznosti_v_vseh_sektorjih/

Ljubljana, 11 April 2017 - Today's seminar entitled "Opportunities for Slovenian companies in South Korea and Cambodia," which was held under the auspices of the Public Agency SPIRIT Slovenia, was attended by 30 representatives of Slovenian companies, which are interested in doing business in both South Asian markets. At the event they were presented the current economic situation and trends in both countries, local business opportunities in various sectors and practical information on the possibilities and modalities for successful entry and operations in both markets.

At the outset, MSc. Suzana Papež Skubic with the Ministry of Economic Development and Technology presented the advantages of a free trade agreement between the European Union and South Korea. "The terms of the agreement, which was signed in 2011, European businesses significantly facilitate access to the local market, investors could facilitate investments in this fast-growing Asian country. The agreement also regulates mutual relations in the field of intellectual property, procurement, competition policy and sustainable development. Positive effects are already visible - Trade between the EU and South Korea has increased since the entry into force of the agreement, but it is still much room for improvement. "

"Now is the right moment to enter the 15 million niche Cambodian market, as it offers many business opportunities in all sectors, competition is currently limited, but also to deal with the country's much easier than with other countries in the region," explained Fabrice Bernard Eurocham Cambodia. "Over the last two decades, the GDP per capita in Cambodia has tripled while the number of investments which rose tenfold." According to him, the most important pillars of economic growth of this country in the development of agriculture, real estate and construction, tourism and the textile industry. "Especially worth exploiting specific niche markets - tourism, food industry, organic products, renewable energy sources and the like." Among the competitive advantages the country has highlighted an open economy, a strategic geographical position, untapped market opportunities in all sectors, good quality of life and competitive labor.

South Korea with 50 million inhabitants considered the eleventh largest economy in the world and the fourth largest in East Asia and one of the most economically dynamic countries in the world, said Christoph Heider from the European Chamber of Commerce in Korea. "Interesting sectors in this country are primarily the automotive, logistics, organic food industry, health care and medical technology, industrial design, construction and interior design, renewable energy sources, especially green and is ambient technology, as well as other sectors." The demand for European products is lot, if it is good quality, it has provided service and reputation. Enterprises advised to undertake market with local partners and not directly, because this will enter it significantly more effective.

In the end, Phillipe Girard-Foley from South-East Asia IPR SME Helpdesk participants highlighted the importance of intellectual property protection prior to the commencement of operations in Asian countries. Violation of these rights for the company can be fatal, as it can mean loss of business, revenue, reputation and competitive advantage. "Although the Cambodian legal framework to protect intellectual property rights is still under development, however, is the fact that in some respects their laws tied to this kind of protection significantly more advanced than in other countries in the region. The challenge remains their implementation in practice, "he said.

Upon completion of the seminar Slovenian companies had previously agreed individual meetings with guest experts. The participants of the seminar content evaluated as very useful, as well as conversations.

Mateja Kalin from companies Bujak, Ltd. "Our company is engaged in producing and selling a revolutionary sanitary protection - menstrual cup LaliCup, which was designed and produced in Slovenia. Increasingly, we also think about expanding into foreign markets, as the Slovenian market is relatively small. In our shop we have seen quite a few customers from South Korea, so we started to think that this market is ranked on our list of potential foreign markets for expansion. For this reason I also attended this seminar, which was very useful for me because I got a range of useful information, which we will come in handy in further steps related to this market. "

Luka Jarc from companies Printbox, Ltd. "Our company is an innovative and ecological approach to digital printing expanding into foreign markets. In particular, we are interested in markets with a large number of the population who are already in a more developed stage, so as there is a greater need for printing. Primarily we are also interested in South Korea in the near future as well as Cambodia due to its location in the heart of Asia and links with neighboring markets. We started the domestic Slovenian market, then their product knowledge and drove in a franchise package and its business model so far successfully expanded to seven foreign markets. In particular we are looking for local partners who will take over from us the knowledge, software, and all that successfully applied in the local market. We found that the markets are far more receptive to solutions coming from Europe, so we decided to draw attention to them. Such events are invaluable for us, because in a few hours getting to know people with specific market, you get useful information and also meet the companies that are interested in this market and you izmenjaš much useful information. "

Public agency SPIRIT Slovenia Seminar organized with the financial support of the Ministry of Economic Development and Technology in cooperation with Eurocham Cambodia, European Chamber of Commerce and Korea - ECCK and South-East Asia IPR Helpdesk.

Photo: SPIRIT Slovenia / LV