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Business Confidence Survey 2015 Results Released
On March 8, representatives of 11 European chambers and business councils, Roland Berger Ltd., participated in the Business Confidence Survey 2015 presentation session hosted at Seoul Square.
For the second year, the survey has been conducted to gauge European companies’ perceptions towards the business environment of Korea. In partnership with Roland Berger, 11 European chambers and business councils collectively organized the survey.
A total of 139 companies representing 35,000 employees and EUR 60 billion turnover participated in the survey held in November 2015. The company profile included 9 industries, diversely ranging from services to manufacturing to provide an unbiased viewpoint. Of the respondents, 68.3% have operated in Korea for more than a decade.
Christoph Heider, Secretary General of European Chamber of Commerce in Korea (ECCK) led the opening of the event, touching upon the significance of the survey as a medium to deliver a message to the public and receive direct feedback from relevant counterparts.
Soosung Lee, Managing Partner of Roland Berger, and Huntaek Jung, Principal of Roland Berger, presented the key analysis and findings of the Business Confidence Survey 2015.
Overall, European companies viewed Korea as an important market, and more than half of the respondents had plans to expand their business operations in 2016. Yet, they still faced some difficulties in the area of competition and labour cost.
Similar to 2014, companies pinpointed the biggest challenge to be domestic and international economy. In order to increase performance, rule of law and transparent policy-making implementation were the most paramount, followed by fair competition and productivity growth. Finally, the discretionary enforcement of regulation stood out as the key obstacle for foreign companies operating in Korea.
For more details, please read the English articles here:
Business Confidence Survey 2015 Results Released
On March 8, representatives of 11 European chambers and business councils, Roland Berger Ltd., participated in the Business Confidence Survey 2015 presentation session hosted at Seoul Square.
For the second year, the survey has been conducted to gauge European companies’ perceptions towards the business environment of Korea. In partnership with Roland Berger, 11 European chambers and business councils collectively organized the survey.
A total of 139 companies representing 35,000 employees and EUR 60 billion turnover participated in the survey held in November 2015. The company profile included 9 industries, diversely ranging from services to manufacturing to provide an unbiased viewpoint. Of the respondents, 68.3% have operated in Korea for more than a decade.
Christoph Heider, Secretary General of European Chamber of Commerce in Korea (ECCK) led the opening of the event, touching upon the significance of the survey as a medium to deliver a message to the public and receive direct feedback from relevant counterparts.
Soosung Lee, Managing Partner of Roland Berger, and Huntaek Jung, Principal of Roland Berger, presented the key analysis and findings of the Business Confidence Survey 2015.
Overall, European companies viewed Korea as an important market, and more than half of the respondents had plans to expand their business operations in 2016. Yet, they still faced some difficulties in the area of competition and labour cost.
Similar to 2014, companies pinpointed the biggest challenge to be domestic and international economy. In order to increase performance, rule of law and transparent policy-making implementation were the most paramount, followed by fair competition and productivity growth. Finally, the discretionary enforcement of regulation stood out as the key obstacle for foreign companies operating in Korea.
For more details, please read the English articles here:
[Korea JoongAng Daily] EU firms feel optimistic
[The Korea Herald] European firms don’t trust Korea’s regulatory system
[Business Korea] ECCK Expresses Ambivalence about Doing Business in Korea