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PwC's South Korea business network assists companies with expanding their international footprint. If you’re thinking about investing—or already have invested—in the United States or South Korea, our bicultural, bilingual advisors can help you navigate regulatory, language, cultural and other business challenges. Backed by our global team of trusted service providers, we can also work with your organization to manage assurance, tax and advisory issues, such as mergers & acquisitions, due diligence, valuations and investment exit strategies.
The United States offers the largest consumer market on earth with a GDP of $18 trillion and a population of 325 million. Household spending is the highest in the world, accounting for over 25% of global household consumption. The United States is a recognized leader in research and development and functions as the center of innovation for technology. The US workforce is diverse, skillful and the most productive in the world. Korean investment continues to increase as companies are attracted by the US-Korea Free Trade Agreement (FTA) combined with various tax and business incentives offered by local US governments.
Korea ranked first in the Bloomberg Innovation Index and ICT Development Index for 2015. It has entered into FTAs with 50 countries and is the only nation that has FTAs with the world’s three largest markets—the United States, China and the European Union. Korea provides ideal circumstances for foreign companies; in fact, it ranked fourth on the World Bank’s Ease of Doing Business list. Korea has spurred foreign direct investment (FDI) by providing corporate income tax reduction, cash grants and various business incentives, including site location support. As Korea continues to move toward more technology intensive-industries and focuses on its shift to a knowledge-based service economy, it offers abundant business opportunities for foreign investors, particularly leaders in advanced technology and the service sectors.
PwC's advisors have extensive experience working in the United States and around the globe. As you consider markets to enter, we'll help you calculate efforts and costs realistically and adapt approaches to local circumstances, including working conditions, communication styles and processes. Contact us today about any of our three main service areas: deals and consulting, cross-border tax services, and audit and assurance.
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South Korea Network Leader, PwC US