Korea has become one of the most dynamic markets in Asia. Thanks to the global rise of K-POP, K-beauty, and K-content, more and more people are paying attention to the country. According to The Economist, the number of foreign visitors to Korea in July 2025 increased by 23.1 percent compared to the same period last year, with Seoul welcoming 1.36 million tourists, setting a new record.
This growing global interest also means that many international companies are exploring business opportunities in Korea. But starting a business and building a meaningful network here is not as easy as it may seem. To succeed, you need to understand not only Korea’s cultural nuances but also the digital tools and communities that locals rely on. In this article, we’ll share strategies to help foreign companies build the right networks when entering the Korean market.
Common Challenges for Foreign Companies
The first challenge is the lack of connections. Beyond language and cultural barriers, it is crucial to understand Korea’s unique business practices and indirect communication style. While Western markets often value direct and explicit communication, in Korea the ability to read subtle cues, known as nunchi, is highly valued. Nunchi can be described as the art of sensing other people’s feelings and unspoken intentions by observing their tone, body language, and social context. It plays a critical role in building trust and maintaining smooth relationships in Korean business culture.
The second challenge is the pressure of time and cost. Building a truly meaningful business relationship in any country takes time, and in Korea this often means months or even years. During that process, companies face high costs from repeated business trips, in-person meetings, and after-work dinners. Even when using video calls like Zoom, maintaining relationships still requires significant time and effort. For small and medium-sized enterprises, this often becomes a heavy initial investment.
Another difficulty is measuring performance. Networking does not generate immediate results, which makes it hard to justify the return on investment in relationship building. Yet, building trust-based relationships is essential for market entry in Korea.
Finally, there are marketing challenges. Korea has its own set of dominant platforms and online communities, such as Naver blogs, KakaoTalk, and industry-specific forums. Marketing strategies that work in other countries often do not perform well here. Without understanding and adapting to these local channels, it is difficult to build visibility and credibility.
Resources You Can Use When Entering Korea
1) Expert Network Services (ENS)
One of the most effective ways to gain quick insights is through an Expert Network Service. By connecting with Korean professionals who have hands-on experience in your industry, you can learn about market trends, risks, and the most effective marketing strategies. To make the most of ENS, you need clear objectives and well-prepared questions. Among ENS providers, Liahnson & Company offers the largest pool of Korean industry experts. Through the Remember business platform, Liahnson connects clients with over 5 million professionals across industries.
2) Industry Associations and Public Institutions
Korea has active industry associations that provide structured networking opportunities. For example, the Korea Software Industry Association (KSIA) and the Korea Internet Corporations Association for IT, the Korea Chamber of Commerce and Industry (KCCI) and the Korea International Trade Association (KITA) for manufacturing, or the Korea Fintech Industry Association for finance. These organizations host seminars, forums, and networking events where foreign companies can meet industry insiders.
3) Business Events and Conferences
Korea’s business calendar is packed with events throughout the year. From startup events like COMEUP to large trade fairs like the Seoul International Trade Fair, companies can find events that match their industry focus. Following up after these events is crucial. Sending personalized messages, connecting on LinkedIn, and sharing promised materials promptly help establish trust. In Korea, keeping even small promises goes a long way in building strong relationship
Combining Online and Offline Networking
Offline meetings matter, but digital networking is equally important in Korea. Since COVID-19, online platforms have become essential tools for building relationships.
- LinkedIn: Once used mainly by multinational employees, LinkedIn is now increasingly popular in Korea. Using Korean keywords, posting relevant content, and offering a Korean-language page can build trust with local audiences.
- KakaoTalk: Korea’s most widely used messenger, used by nearly everyone. Features like Open Chat and Plus Friend can help businesses connect with new potential customers.
- Remember: A business card-based professional networking app, widely considered a must-have tool for managing business contacts in Korea.
Communication Tips for Cultural Differences
Once you start connecting with Korean professionals, adjusting your communication style is important. Here are a few tips:
- Use respectful language and titles: Always address new contacts with polite forms, such as adding “nim” after a name or title. Even in English, maintaining a respectful tone helps. For example, someone named Chulsoo Kim would be addressed as “Kim Chulsoo-nim”, or a manager with the surname Park could be called “Manager Park-nim.”
- Business card etiquette: Exchange cards with both hands, take a moment to look at the card, and avoid putting it away immediately.
- After-work gatherings: Social dinners or drinks often play a key role in building trust. If invited, it’s usually a good idea to join, even if it’s not an official meeting. Small gestures like waiting for a senior person to toast before drinking show respect.
Korea is an attractive but challenging market. Success requires more than enthusiasm. It demands patience, adaptation, and respect for cultural nuances. By combining expert networks, industry associations, local events, and online platforms, foreign companies can build long-term, trust-based relationships.
If you are preparing to enter Korea and want tailored insights from local experts, Liahnson & Company can connect you with the right professionals to help you succeed.
Reference
- U.S. Trade Administration, “South Korea – Market Challenges”
- William B. Choi, “Why Do Businesses Fail In South Korea: Major Pitfalls To Avoid”
- Privacy Shield, “Korea – Market Challenges”
- https://economist.co.kr/article/view/ecn202509010001
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