Dr. Park Hee-Kwon
Both individually as in the framework of our regional contexts, During the last years we have been attending a progressive and inexorable approach of Spain and Korea at all levels. A good example of this improvement relations is the constant increase of our commercial exchanges.
Between the years 1995 and 2013, trade between the two countries ses grew to an average of 5% annual, up to 2,680 million euros, driven in the last stretch by the signing in 2011 of the Treaty Free Trade Agreement between Korea and the European Union. The year 2014 seems to have supposed a milestone in our relationship commercial. During the past year the commercial volume between Spain and Korea reached 3,630 million euros, no less than 35% more, with a coverage index for Spain of 120%. This is a reversal of the situation of relationships between the two countries ses, where Spain had always counted with a commercial balance unfavorable. The reasons for this change we can find, for one side, in the spectacular increase of exports Spanish to Korea, that were increased 83%, up to 1970 millions. And on the other hand, in the containment of imports, which they grew by only 3.6%. Those figures They are undoubtedly a reason for satisfaction and of hope. However, it's worth going deeply into them in order to obtain information that allows us to maintain and improve good health of our relationships commercial.
Attending to Spanish exports to Korea, three items concentrated 60% of the total: products energetics, chemical products and cars. The most important, the sale of energy products, increased by 150% due to the large items sent by the Spanish multinationals to cover the occasional increases of Korea's energy demand. Do not However, these demand peaks do not it is sure that they will be repeated, with some crude prices correcting upward. The second game in importance they were chemical products monkeys, that always they have had great weight in the basket exporter. And in third place, in 2014 were sold a total of 20,550 Spanish cars in Korea for 219 million, when in 2012 barely They had sold 339 units.
Also the biggest part of imports, the 58%, concentrated on four items, chemical products, automobiles, automotive components and consumer electronics products, like mobile telephony and appliances, that already have a consolidated space in the market
Spanish.
However, given the size of our economies, with products that far exceed the billion of euro per year, our level of Trade is extremely scarce. Korea represents for Spain only 0.7% of their exchanges, and 0.5% in the reverse direction. The main reason is the excessive tendency of both countries, for reasons logistics and geostrategics, trade with surrounding nations and with traditional allies.
Fortunately, Spain is every time more aware of the big business opportunities that Asia, and today their companies look to the East much more than five years ago. Since the beginning of this century, the center of gravity of the global economy is shifting accelerated to the east from Asia. According to Ernst & Young, currently 525 million Asians they can be considered middle class, that is, with a high potential for consumption. And it is estimated that in the year
2030 two thirds of the world class will find themselves in Asia.
The Korean market, with more than 50 million consumers, constitutes an excellent gateway to the Asian market of companies Spanish According to the LG Economic Research Institute, per capita income of Korea in 2017 will be 30,000 dollars dollars, only below powers like the United States, Germany or Japan. This change in purchasing power is already driving changes in the consumption patterns of the Koreans towards Major products quality, which can suppose a great opportunity for Spanish products who enjoy of great prestige international in the area of fashion, accessories ments, the habitat, gastronomy or products deluxe. Out of products of consumption, there is no need lose sight of sectors like the environment, the components of automotive industry, which continue to present good expectations, and the products agri-food, such as wine, olive oil or derivatives of the pig. Also, Korea has still scarce infrastructures endowments tourist and leisure, so which is a field with a strong potential developmental. The outlook for 2015 is hopeful. Between January and March the exchanges have grown by 36% with respect to the same period of last year. If this trend continues, it would mean a reasonable stabilization of our exchanges in those areas where we have greater business experience bilateral, which will lead to growth continued in the figures global and will allow to lay a foundation solid to open the way to possibilities of business in new sectors. The Visit of King Philip VI to Korea East next fall it can be a good occasion to celebrate a meeting business between companies Spanish, Korean and Latin American to keep demolishing old myths and explore new areas of commercial cooperation.
I remember the history of that one shoe factory that sent twobusiness to an underdeveloped countryto expand the market. To the After a few days there, the first commercial He phoned saying: "Send me back, the trip has been a failure. Nobody wears shoes here! "
Soon after, the second commercial
He phoned enthusiastically, shouting: "Send me more samples! Here nobody still wears shoes
This is the path that we remains to be traveled, with courage and perseverance. Citing Nelson Mandela, courage is not the absence of fear, but the triumph over the fear. I trust that the ties economic and commercial join be more and more stronger and that they finally manage to reflect the good state of our relations global and the magnificent friendship that unites our countries
65 years ago.
Spain is becoming moremore aware of the big business opportunities Asia offers
“He market Korean It constitutes a Excellent door of entry for the Business Spanish "
525 million Asians are can consider class average, that is, with a high consumption potential
