We develop and maintain relations between the Slovak Republic and the both Koreas, the Republic of Korea as well as the Democratic People´s Republic of Korea. Our work covers a range of issues including political, commercial, security and economic questions of interest to the Slovak Republic and the Republic of Korea, resp. the Democratic People´s Republic of Korea. The Slovak honorary consulate in Busan also provides assistance to Slovak nationals in South Korea.
The South Korean economy is highly export-driven and based on a great deal of coordination between the public and business sector. Its major export commodities include petroleum products, ships, vehicles, electrical appliances and equipment, optical and measuring instruments, iron and steel or plastics. The import is dominated by energy, especially petrochemical products. The South Korean economy features a number of industrial conglomerates, the so-called chaebols, which constitute the backbone of the export economy and includes global giants like Hyundai, Samsung, LG, Kia, Daewoo etc. that are global industry leaders in mobile phone technology, consumer electronics, as well as the shipyard and automotive industries to name a few. South Korea is also maintaining its competitive edge by ambitiously focusing on innovation within selected sectors. These include for example electronics, biotechnology and renewable energy sectors etc. Today, South Korea is one of the OECD countries that invest most in research and development. South Korean market is well saturated, crowded, very dynamic and with high competition. The implementation of the EU-Korea Free Trade Agreement (FTA) starting July 2011 is ensuring certain level of access to the Korean market and could be considered as an advantage. Perspective export areas: - food products, alcoholic drinks, - quality and luxury consumer goods, fashion accessories, - special equipment, f. e. positioning systems for robots, other components for robots, - optical and electronic equipment and appliances, - transport equipment, particularly road vehicles, sports aircraft, - equipment for environmental protection, - software solutions. The Democratic People´s Republic of Korea The DPRK still remains one of the poorest and most isolated countries in the world. Underdeveloped economy and central planning system in combination with international sanctions make the DPRK one of the least attractive trade partner. Considering current political situation as well as continuing uncertainty about investment climate in the country, any trade or investment activities with the DPRK might pose a great risk to Slovak subject.