Despite maintaining trade contacts with many countries around the world, in a few of them we note a significant trade deficit. The leaders of these countries are: Russia, China and South Korea. Many sources point to the different preferences of consumers from these countries as the reason for this state of affairs. For example, imports from Korea to Poland have almost seven times higher rates than exports the other way! How to take advantage of this boom?
Imports from Korea
Poland does not offer South Korea particularly many interesting goods. This is reflected even in the number of Polish investors present in Korea. They are a Wroclaw company specializing in construction chemistry and a Toruń company from the shipbuilding industry. Polish exports to South Korea are primarily:
- products of the electrical industry
- metallurgy industry products
- ceramics
- chemistry
- groceries
In turn, imports from South Korea are much more common in our country. However, it is worth referring to the larger scale. To understand the scale of imports from South Korea we will use an example, or rather a scale: general European imports.
Europe imports from Korea
Despite its turbulent history, South Korea has grown rapidly over the past half century. From a relatively poor country it has changed into a tiger of the Eastern market. Currently, it is one of the largest exporters of new technologies. The position of the state on the market is so strong that the European Union has decided to ratify the free trade agreement. However, the inflow of automotive industry products has increased so much that in order to protect the domestic market, France has submitted a project to restore tariffs a year after signing the contracts. Automotive is not the only area of Korean exports. Household items and electronics are also very popular.
Just mention such concerns as LG or Samsung. Busan seaport can boast 20,493,000 TEU of exports annually, which places it in the 5th place in container handling in the world. Household and mechanical parts as well as components and raw materials are exported from it to Poland. One of the beneficiaries is the LG Chem factory, which manufactures batteries for electric cars. Hyundai and KIA cars also reach us by sea. The size of the goods is not the only reason for the popularity of sea transport from Korea. Please note that the Republic of Korea is separated from the continent by North Korea – this hinders land transport. At the same time, air transport, despite decreasing costs, is still quite an expensive option. This means that the most profitable way of transport is to transport by sea.
Is import from Korea expensive?
Not necessarily. Prices of sea transport depend on standard factors, such as volume and mass of transported goods. An additional variable is the duty (varied depending on the type of transported goods) and cargo insurance. Deliveries can be made both by FCL and LCL. Considering the popularity of imports from Korea recently, more and more forwarding companies offer connections on routes to Europe, including Poland. To estimate the cost of transport, there is a special tool: sea freight calculator. The calculator service is simple. Just enter the necessary data and in a few clicks we get feedback on how much the shipping will cost!
The BBA Transport System supports transports from South Korea
Thanks to many years of experience in the forwarding market and cooperation with numerous agents, we are able to organize transports from South Korea to Poland efficiently, quickly and at the best price. Our specialists care about the highest quality of services offered, because customer satisfaction is our top priority. Cooperation with the BBA Transport System means safety, quick implementation and the lowest costs. We encourage you to contact experts from the TSL industry!