Local and state businesses that may want to expand heard about global opportunities today. The Van Andel Global Trade Center at Grand Valley State University
hosted a one day conference, “Doing business in South Korea.”
The one-day conference is an opportunity for businesses to learn and possibly decide if doing business with or in South Korea is for them.
“I think what we want to do is bring as much information to the businesses so they can evaluate it and see when it’s the right opportunity for them to explore.”
Sonya Johnson is the executive director of GVSU’s Van Andel Global Trade Center. The conference notes South Korea’s one trillion dollar economy is export driven and relies heavily on international trade. With consistent placement in the top 10 countries to which Michigan exports its goods, Johnson says the South Korean market provides several opportunities for businesses.
“Really seeing that a lot of Michigan agriculture products have a great opportunity selling into Korea as well as machinery, transportation equipment, there’s a lot that have opportunities selling into South Korea.
Johnson says being diversified can help sustain business.
“Really the opportunity that opens up for them is a more diverse marketplace and what we saw the from the trade center’s perspective is that when the economy was slumping here in 2008-9, the companies that were more diversified in other places around the world, did not feel that quite as deep or as long.”
Those attending the conference heard from international trade and legal experts as well as economists.
