Dynamic Consumer Markets

With a population of roughly 3.3 Billion (or about 35% of the world’s population) Asia comprises an enormous market for goods and services. The strongest economies in Asia are China, Japan, Korea and India. Asia has some of the most cost-effective areas for production. The costs of manufacturing, assembly and related services are so low that many global businesses have shifted their areas of production to the region.

The area around the Yellow Sea contains 60 cities, a total population of approximately 200 Million people and a GDP of $1.3 Trillion USD (as of 2001).  Countries in this region include Japan, China, Korea and Russia. 

Songdo, in the heart of this region, is positioned to become the hub of this huge, burgeoning market.  Korea is also making great strides in competing in a global economy and positioning themselves to be a major factor in the global economy.    

Over the past decade, Korea and China have become major partners in bilateral trade.  This partnership works well as Korea imported agricultural products, manufactured goods and raw materials from China in return for exporting value added goods and services to China’s markets. The top trading regions of China represent 96% of total export to China and 80% of total import from China.