Despite this, South Korea is also frequently forgotten, neglected and therefore underestimated. Its geographic position between the two neighboring economic heavyweights Japan and China obviously plays a role in this. With a population of just under 50 million it is relatively small, but it is of strategic importance due to its strength in the automotive, mechanical engineering, electronics and EPC (Engineering, Procurement and Construction; specifically: detailed planning and control, procurement, execution of construction and assembly work) industries.
A local presence in the form of an own office (there are currently more than 100 Swiss companies) or a well-selected partner is vital for economic success in Korea, just as it is in other parts of the world. Many major Korean corporations award contracts locally, even though the goods and services are acquired in other parts of the world.