Dear Member,

the Business Confidence Report 2023/24 is now available.

[...] The overall feedback regarding the business development in 2023 remains on a positive level, however less bullish than in 2021 and 2022. The majority of European companies operating in Korea were once again satisfied with the business performance in 2023. However, the satisfaction percentage declined faster from 71% in 2021 over 68% in 2022 to 58% last year. Over the same period, the number of businesses considering their economic activity as average increased from 17% over 23% to 30%.[...]

The Korean market continues to gain importance for European companies’ global strategy. More than every second enterprise expects a growing significance of the Korean business operation even though the Korean market had already reportedly become more pivotal over the past years.

Besides the mixed business development in the past year and the more confident expectations, the replies of the European companies point out areas of concerns and fields of improvements.[...]

To read the full report, please download the attached file.

Thank you.
ITCCK