Korea Trade Review (무역학회지)

Korea Trade Research Association (한국무역학회)
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A Study on Korea's Trade Performance in Spain and its Strategies for Entry into Spanish Market

한국의 대(對)스페인 교역성과와 시장진출 전략에 관한 연구

  • Soo-Suk Sohn (School of Economics and Management, Kyungil University)
  • 손수석 (경일대학교 상경학부 국제통상학전공)
  • Received : 2021.01.17
  • Accepted : 2021.02.25
  • Published : 2021.02.28
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Abstract

This paper aims to analyze Korea's trade and investment performance in Spain and the business environment of Spain, and to find efficient strategies for entering into the Spanish market. This study is organized into five chapters. To begin with, it explains an overview of the Spanish economy and the current status of its major industries. Then, it analyzes Korea's trade and investment performance in Spain, the structure of comparative advantage and the trade trends of major import and export items, since 2011 when the Korea-EU FTA went into effect. Lastly, based on the results of this analysis, Korea's strategies for entering into the Spanish market are derived. The strategies derived from the analysis are as follows: (1) entering startups in the Spanish market through CVC cooperation and participation in large tech forums, (2) linking the Spanish interest in K-Culture to consumer goods exports, (3) promoting cooperation in the IT industry in response to the Spanish government's 'Connected Industry 4.0', (4) building a new Korean-Spanish value chain in response to the mobility revolution, (5) advancing jointly into a third country by combining the strengths of both Korea and Spain, (6) cooperating with the Spanish government to establish a sustainable energy policy, (7) promoting jointly with the Spanish government through smart city strategies and project exchanges, and (8) building a European logistics hub in Spain in preparation for post-Brexit.

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