Russian Chamber of Commerce and Industry hosts expert meeting on Russian exports to South Korea

On 11 June 2014, the subcommittee on exports within the Import and Export Promotion Committee met to discuss: "Russian exports entry into South Korean market: Prospects and solutions."

The following issues were examined:

• South Korean import structure, including current consumption indicators, the 2014-2015 forecast, and the categories of goods in demand and the extent of that demand
• customs clearance, classification, and regulation of imported goods to Korea
• the digest of the Korean UNIPASS export/import customs system
• marketability of Russian products in the Korean market
• solutions and strategies for Korean market entry
• the process to establish business contacts
• a case study about each industry and category of goods
• thresholds and solutions for importing into Korea

Russian medium and small businesses might encounter challenges, such as:

• language differences 
• poor awareness of Korean business custom and traditions
• unfamiliarity with the Korean legal system

Experts generally agree that business/consultancy agencies must be found to serve as intermediaries for researching Korean partners, concluding contracts with them, and advancing business negotiations, especially for medium businesses.