Business Confidence Survey 2015 in Korea – What European firms can expect from doing business in Korea
For the second year, Roland Berger and the European chambers of commerce and business councils have delivered a comprehensive survey gauging European companies' perceptions of the business environment in Korea.
139 companies representing 35,000 employees and EUR 60 million in revenues contribute their insights. They span 9 industries, ranging from services to manufacturing. Two thirds of respondents have been operating in Korea for more than a decade.
European companies view Korea as an important market, and more than half of the respondents have plans to expand their business operations locally in 2016. Yet they still face some challenges when it comes to competition and labor costs.
As in 2014, companies pinpoint the domestic and international economy as the biggest challenge. The rule of law and transparent implementation of policymaking are the paramount concerns, followed by fair competition and productivity growth. Finally, the discretionary enforcement of regulations remains a key obstacle for foreign companies operating in Korea.