Things you must know to find a supplier in South Korea
Sourcing your supplies from overseas is a great way to cut costs, acquire high-quality products, and get ahead of your competitors.
South Korea is an excellent place to search for suppliers if you need high-tech quality goods at an advantageous price. If you’re looking to import from South Korea to the US, there are a number of things you should be aware of.
Regulations and Fees
Since South Korea and the US have a Free Trade Agreement in place, 95% of South Korean products can be imported to the US free of duties and merchandise processing fees (MPF). Bear in mind that some products are subject to quotas (check here if that applies to you), and you still need to provide a certificate of origin that proves your imports were produced in South Korea.
South Korea doesn’t levy any taxes or fees on exports, and there are no export restrictions in place for any products.
Best South Korean Products
South Korea has a competitive advantage in many economic sectors.
Here’s a list of products most importers buy from South Korean suppliers.
- Electrical machinery and equipment
Bear in mind that this list is non-exhaustive; many other South Korean products have great chances on the US market.
Where to search for suppliers?
There are several online searchable databases that list South Korean suppliers. The International Center of Ecommerce allows you to search their whole directory for suitable suppliers, products, or services. You can also click through the product catalog and choose your supplier from the list.
Alternatively, you may turn to the Korea Chamber of Commerce and Industry for assistance in finding a South Korean supplier.
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