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NZTE in Korea

NZTE in Korea. Presentation Outline. NZTE who are we? NZ Korea Trade Relationship – Recent Trends NZ Key Sectors in Korea 3 Key sectors and NZTE activities Relationships are the key. NZTE – who are we. The New Zealand Government's national economic development agency.

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NZTE in Korea

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  1. NZTE in Korea

  2. Presentation Outline • NZTE who are we? • NZ Korea Trade Relationship – Recent Trends • NZ Key Sectors in Korea • 3 Key sectors and NZTE activities • Relationships are the key

  3. NZTE – who are we • The New Zealand Government's national economic development agency. • Our role is to support the NZ Governments objective of increasing the average income of NZers in line with countries in the top half of the OECD. • We work with industries and sectors in NZ that have a long-term sustainable advantage and with businesses that have high growth potential. • We work globally and have 48 offices worldwide. Like KOTRA we look at assisting exporters to access opportunities and encourage foreign businesses to invest in NZ

  4. WWW.NZTE.GOVT.NZ

  5. WWW.MARKETNEWZEALAND.COM

  6. WWW.EXPORTYEAR.CO.NZ

  7. NZTE KOREA • Build alliances and develop strategic commercial relationships • Provide hands on assistance to NZ exporters • Promote NZ and its capabilities to potential customers and investors • Help Korean importers/ distributors source NZ goods and services • Help Korean investors identify investment opportunities in NZ

  8. NZ Korea Trade Relationship • NZ’s 6th largest Trade partner – 2 way Merchandise trade worth NZ$2.6 billion • NZ’s 6th Largest Export Market – Merchandise Exports Totalling NZ$1.4 billion - Wood Products ( NZ$463m, 34%); Meat ((NZ$251m, 18%); Dairy (NZ$120m, 9%); Methanol (NZ$78m, 6%); Kiwifruit (NZ$65m, 6%); Aluminium (NZ$58m 4%). • Korea Exports to NZ totalled NZ$1.2billion. Main exports petroleum, electronics, cars, machinery, plastics and iron & steel etc. Brands like Hyundai, Samsung, LG, Kia becoming very popular in NZ. • Food and Beverage accounts for over 40% of NZ total Merchandise Exports. • NZ’s 2nd largest education market. 15,067 students to NZ (6,552 ELS, 6,507 schooling, 2,008 tertiary) • 5th Largest Tourist Market – 110,000 Korean Tourists to NZ ($NZ315m) • Film and ICT increasing in importance

  9. Recent Trends • NZ exports grew 7.4% in June year 2005/06 and recorded very strong growth 21.1% for 2006/07. (Wood +34%, Meat +11%, Methanol +383%, Kiwifruit 19%, Cooper Scrap 2,140%, Deer Velvet +38%, Buttercup Squash +58%). • Outlook for Korean economy very good. • Outlook for NZ exports good • The Emergence of China • FTAs and deregulation • Well-being craze • Increased leisure time – move from 6 to 5 day working week. • Aging and increasing affluent population • Most internet connected country in the world.

  10. Key Sectors • Food and Beverage • Beef, Dairy, Seafood, Kiwifruit, Organics, Wine • Life Sciences • Deer Velvet, Nutriceuticals, health supplements • ICT • Digital Content, Health ICT, Robotics, mobile and wireless solutions • Film and TVC • Post production, location services. • Race Horses • Education and Tourism • Forestry

  11. Food and Beverage - Opportunity • Increasing consumer affluence • Tastes have westernised • NZ’s reputation as a supplier of safe, healthy high quality food • Well being Craze

  12. Food and Beverage - Activities • NZTE Importers Group • NZ Food and Beverage Month – November 2007 • Food and Hotel Korea – May 2008 • Wine delegation

  13. Food and Beverage

  14. ICT the Opportunity • Korea ICT Market one of most advanced world highest broadband uptake and world leading Mobile and Wireless technologies • Research shows biggest opportunity for NZ ICT companies in digital content, healthcare and robotics • Innovative NZ ICT companies have world leading enabling technologies that will help accelerate convergence in Korea. • Korea’s goal is convergence and ultimately a ubiquitous environment

  15. ICT - Activities • NZ Digital Contents Delegation visited Korea in May 2007 • KANZ Broadband Summit in 2008 • Korean Digital Content delegation to NZ in 2007 • Assisting a number of NZ software companies to access the Korean market

  16. ICT

  17. Film/ TVC - Opportunity • Market size: TVC/ Music Video/ TV programmes ($NZ2b) Film $600m. • NZ location and post production capabilities well known following success of LOTR, King Kong and Narnia • NZ and Korea have film co-production arrangement • Training opportunities • Co-productions – Black Sheep and Horrorholics

  18. Film / TVC Activities

  19. Relationships are the Key • Key to business success in Korea is building strong, mutually beneficial relationships • NZ relationships date back to the Korean War (1950-53) . • 1960’s Colombo plan over 250 Koreans studied in NZ under this plan. • Late 1960’s Helped established the Korea Dairy Industry with Maeil Dairy. • Today – Zespri, Daesung/ Park Road Post, NZCCE, Tourism and Education • KNZBC/NZKBC, and ANZCCK • 40,000 Koreans in NZ (highest population per capita/ 3 or 4 most common language)

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