Find clients and sell your products in South Korea

Finding clients abroad is always a challenge, and business development in South Korea is not different. You need the right contacts and once you reach the decision maker, you need the right sales pitch.

A lot of companies that want to enter the market in South Korea do this with their general sales pitch. However, if you don’t know the local regulations, pricing levels and your competition’s product, sales meetings may be difficult to conclude successfully.

How to sell your product or service in South Korea?

South Korea has a population of about 52 million as of 2023. Known for its economic miracle, technological advancements, and vibrant culture, South Korea is a significant global player.

With a GDP per capita of approximately $31,000 USD in 2023, South Korea’s economy is heavily driven by exports. Major industries include electronics (like smartphones and TVs), automobiles, shipbuilding, and steel. The country is also a leader in technological innovation and digitalization.

South Korean Business etiquette

South Koreans are serious businessmen and tough negotiators. Koreans are familiar with English and if well educated, are functionally fluent in the language. However as English is not their native language, do not assume that their appearance of agreement is an indication of understanding. Koreans prefer that a familiar face make the introductions to a new business associate. They are extremely patriotic. Thus any awareness shown by foreigners of Korean culture, is rated highly.

South Koreans play with their cards close to their chest so be prepared for anything! They will always believe that they are negotiating from a position of strength (Customer is King) and try and get the maximum from the deal whilst giving away the minimum.

Confusianism and Kibun in Korean business culture?

If you wish to get familiar with the Korean culture, it’s important to know the tenets on which it’s built. Confucianism stands for virtues like honour, sincerity, duty, respect, filial piety, honour and of course, loyalty. Theoretically, Koreans believe they maintain these values even in the workplace.

Kibun, on the other hand, encapsulates another important trait of Korean culture. It means saving face, reputation, or someone’s feelings. Kibun implies refraining from open insults. But Westerners need to understand that Kibun is often a one way street. As a supplier to a Korean customer, you can lose face, repeatedly, as long as the customer saves his!

South Korea negotiation tactics

The bigger the group that you meet, the more important is your product. Remember that South Koreans will negotiate hard and wear you down, with the expectation that the weak or impatient foreigner will compromise on something to quickly close the deal. So, be prepared and follow these tactics:

Schedule your meeting a few weeks in advance. It should ideally be held between 10 and 12 am or 2 to 4 pm.
Be on time, inform if you’re late and be patient
Be prepared with a gift on the first meeting, but refrain from openly displaying it. Accept and present gifts with both hands.
Send in your company information prior to the meeting so that they have time to review it internally within their team
State your side of the deal slowly and clearly
Reiterate important points
Be diplomatic, don’t put yourself or anyone else down (kibun)
To other Asians, Koreans don’t say ‘no’ directly so pay attention to body language. Koreans believe too much in the Hollywood image of Westerners, and so will say ‘no’ to them.

Who actually decides?

Business development abroad fails more often on the wrong contact than on the wrong product. Decide first whether you sell to end users, to a procurement department or through a partner: each asks for a different pitch and a different price level.

Expect to adapt three things per market. The language of your materials, your proof — local references count for more than global ones — and your price positioning against the local alternatives.

Do you need help in South Korea?

Our service providers are local specialists. They know the market, the regulations and the parties that matter, and they can support you with the steps on this page.

Ask a professional

Finding your first clients in South Korea in three steps

Step 1

Define the target group

Describe the companies or consumers you want to reach, the budget they have and the problem you solve for them. Skip this and every later step costs more time.

Step 2

Build a list and approach

Collect 50 to 100 relevant companies, find the person who decides, and reach out in the local language by email, LinkedIn or telephone.

Step 3

Follow up and localise

Track what you hear back and sharpen the pitch on it. Add local proof: translated pages, references from the region and a local number or partner.

Find clients and sell your products in South Korea