South Korea and Slovenia are geographically and culturally distant countries that nevertheless offer many business cooperation opportunities. Both countries have export-oriented economies and signed multiple agreements, such as the FTA (between the EU and South Korea) and a memorandum of cooperation, which facilitate trade and promote business cooperation between them. Slovenian companies interested in entering the South Korean market can discover numerous opportunities in fields such as chemical industry, information technology, engineering, healthcare, vegan cosmetics, finance, the automotive industry, artificial intelligence and green industries. The challenges Slovenian companies face when entering the South Korean market can be divided into business and cultural ones. When conducting business in South Korea, companies are met with specific industry standards, a highly competitive market, and different business practices (longer working hours, specific negotiation methods). In terms of culture, Slovenian businesspeople should familiarize themselves with appropriate business etiquette, complex corporate hierarchy, and the importance of building personal as well as professional relationships. Many well-known Slovenian companies, such as Krka, Lek, Alpina and Iskra, are present on the South Korean market through export activities. However, the Slovenian company fully integrated into the said market is Kolektor, as it has its own subsidiary in the city of Gumi, Kolektor Sinyung. Like the other companies mentioned, Kolektor also entered the South Korean market by exporting. Later, it established a partnership with a local company and, during the Asian Financial Crisis, acquired the said company. Kolektor Sinyung was established and has been Slovenian-owned for over 20 years, while operating as a local Korean company.
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