Top 10 Small Business Investment Opportunities in South Korea
Are you interested in starting a business in South Korea? If Yes, here are
the top 10 best small business ideas & investment opportunities in South
Korea.
South Korea is an Asian country that is located in the Eastern part of the
Asian Continent. The capital city and seat of power of South Korea is Seoul.
Seoul is also the largest city in South Korea and it is rated to be the second
largest city in the world with over 25 million people residing there. The
official language of South Korea is Korean, and English language is widely
spoken by the average South Korean on the street.
Recent statistics rate South Korea as the 8th largest
country in the world when it comes to international trade. South Korea’s
economy is considered to be a high – income advanced economy. It is important
to state that South Korea is a developed country and it boasts of having the
highest average wage income in the whole of Asia.
When it comes to the ease of doing business, standard education, quality
health care service, and job security, South Korea ranks top amongst Asian
countries.
It is rated as the 7th largest exporter in the world. As a
matter of fact, South Korea’s Hyundai – Kia brand is rated as the 4th largest
car manufacturer in the world. South Korea no doubt is one of the world’s
leading technology oriented countries with leading brands like LG and Samsung
and also it is the largest exporter of flat panel displays and memory chips. In
case you don’t know, South Korea boasts of having the fastest internet
connection in the world.
This country has a rich and a robust economy and it is one of the fastest
growing economy in the world. Major contributors to the Gross Domestic Product
of South Korea are the Technology sector, Automobile sector, the
manufacturing sector, Oil
and Gas Sector and The Insurance Sector. Now let us go
through the top 10 business opportunities that are available in South Korea;
Top 10 Small Business
Investment Opportunities in South Korea
1. Online Shop
The Ecommerce
trend of business is such that have continued to gain grounds
over the years. Thus, this business sure does yield dividends even in South
Korea as it is in other parts of the world. However, you have got to determine
your niche.
There are loads of things that could be sold online; but you have got to
decide which you want to deal in. Amongst the list of online products you may
want to consider is; foods of all kinds, fruits, clothes, shoes, electronics,
equipments, telecommunication accessories and what have you.
2. Smart
Phones and Accessories Shop
The smart phones have fast knocked out the mobile phones off the market
racks. Therefore, this is one business you may want to tap into because of its
popularity in recent times. The business of smart phones and accessories means
that you would be catering to the need of folks who are smart phone freaks, as
well have spare accessories and parts of the phone that can be on display and
purchased whenever there is a need for it.
3. Car Sales and
Servicing Centre
The number of cars that are owned on South Korea seems almost uncountable
as there are lots of people who have made their own lives easier by procuring a
means of transportation for themselves, aside from what the government has put
in place. Consequently, you can make good profit by starting a car sales and
servicing centre.
However, you may want to consider specializing in a particular brand of
cars so as to meet a certain sect of the society. On the other hand there isn’t
harm in dealing with all brands of cars provided you are able to pool the enormous
capital required to pull off such a business.
4. Insurance
Brokerage Business
The need for people to get the right
insurance covers cannot just be overemphasized. This means that with the right
and complete brokerage firm one is able to maximize the profits of being under
an insurance cover. If you have a background in insurance or are willing to get
trained in that line then you may want to start an investment brokerage
business in South Korea.
5. Children’s Toys Manufacturing
Company
Children’s toys are one
indispensable part of childhood experience that cannot be neglected all over
the world. One of the ways to leverage on this fact is by starting children’s
toys manufacturing company. With this kind of business you are sure to produce
a variety of toys so as to meet the endless needs of children in South Korea
and around the world.
6. English Evening School
The lingua franca of those in South
Korea isn’t English, but you would agree that there would always be the need to
have English learnt if for nothing, so as to deal with foreign customers and
visitors who troop into South Korea. Therefore you may plug in on this by
starting a business like an English School. As an expert you are able to teach
folks who do not understand the English language the basis and beyond.
7. Video Games and Accessories Shop
Gone are the days when one would say
video games are only for children. These days, even adults find the video games
really intriguing as they are able to relax after a hard day’s work. So
therefore, you can be sure to make good returns on your investment in Korea
when you start a video games and accessories shop.
This might not be too expensive go
start out, but it sure requires that you stay abreast with the latest trends in
video games business so as to keep attracting newer customers.
8. Electronics and Home Appliances
Business
Nearly every home in the world has
one electronic and home appliance or the other. This is the same case in South
Korea as there is a big market for this business. You can plug into this by
getting electronics and home appliances at very good rates from the manufacturers
and thereafter sell it at a good price to retailers from all over the world.
9. Security Service Business
The need for good security has
become a very serious issue in all parts of the world. If you have a penchant
for being security conscious or are already an expert on security issues then
you may want to dabble into the security service business. This is one business
that can give huge returns on your profit in South Korea.
10. Automated
Dispenser Business
The automated Dispensing business is
a very viable one that can be of good use. This means that you must be able to
meet the need of the teeming population by having the right products in your
dispensing machines. Be sure to have your machines located at strategic
positions so that you can meet the need of lots of consumers.
These are some business
opportunities you would find in South Korea. Be sure to learn more about these
businesses when it is time to start out with them. This is because there is so
much that can be gained when one embarks on a business journey with the right
information.
