An Overview of South Korea
- South Korea has a population of 51.71 million.
- Capital: Seoul
- Official Language: Korean
- Total Area: 100,210 km²
- Currency: South Korean won
Economic Statistics of South Korea
- South Korea has reached a GDP of around 1.65 trillion USD. Its largest industries are
- Car manufacturing
- The breakdown of South Korea GDP Composition includes
- Services (56%)
- Industry (33%)
- Agriculture (1%)
- The main importers of South Korea’s goods are
- United States (14.5%)
- Vietnam (9.5%)
- Hong Kong (6%)
- Japan (4.9%)
- While the main exporters to South Korea are
- Japan (31%)
- Indonesia (5%)
- Taiwan (2%)
The Printing Industry in South Korea
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- South Korea is a printing powerhouse that manufactures and exports high-quality printed materials. Approximately 20,000 printing companies in South Korea are currently fitted with world-class printing technology and cutting-edge printing equipment. Binding machines, cutting machines, and coating machines are all manufactured in Korea and exported to the rest of the world.
- Existing printing industries, such as label, package, and digital printing, are gathered in one location to showcase and create better machines for the printing industry through the involvement of local propulsion. South Korea's printed materials have been shipped all over the world, with an annual average export value of more than 0.3 billion dollars
- Exports of printed materials are growing year after year, owing to Korea's global success in printing technology and its ability to provide high-quality, low-cost, quick-delivery, and environmentally friendly printing.
- As a result, more people in South Korea are looking for printers for sale whether from domestic sources or via imports.
The Packaging Industry in South Korea
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- Rigid plastics were the most commonly used packaging material in South Korean packaging in 2019, accounting for 36.7 percent of the industry. Flexible packaging and paper & board packaging came in second and third, with market shares of 18.9% and 16.1%, respectively, in 2019.
- In South Korea, the food industry made the most use of packaging, accounting for 48.0 percent of the market. Non-alcoholic drinks and alcoholic beverages came in second and third, with 26.5 percent and 12.1 percent of the market share, respectively.
- The packaging industry in South Korea will expand at a CAGR of 1.3 percent through 2024. As per GlobalData, a leading data and analytics firm, the packaging industry in South Korea is projected to hit 51.7 billion units in 2024, expanding at a compound annual growth rate (CAGR) of 1.3 percent over the forecast period 2019-2024.
- According to GlobalData, the packaging industry is primarily driven by growth in rigid metal packaging, which is expected to expand at a CAGR of 4.5 percent from 2019 to 2024. Glass is the next most common segment, with a CAGR of 2.0 percent predicted over the next five years.
- This boosting economy in South Korea will continue to drive demand for industrial inkjet printer, printing equipment, printing parts, printing consumables such as inks, make ups and cleaning solutions.
The Manufacturing Industry in South Korea
- South Korea's rapid economic growth has been fueled by manufacturing, which has transformed the country into a global industrial powerhouse. It is one of the world's largest shipbuilders, as well as the fifth largest automobile manufacturer and the sixth largest steel producer. The economy is dominated by advanced manufacturing and services, which employ the majority of the population.
- Cell phones, consumer electronics, white goods, vehicles, ships, and steel are among the company's main products, all of which are shipped around the world. Korea imports vast amounts of natural resources such as coal, iron ore, and oil as a developed manufacturing economy.
- Companies and organizations that do not want to own and run their own factories hire contract manufacturers to provide engineering and manufacturing services. They are usually manufacturing professionals who can easily integrate your goods into their production lines and schedules.
- Korea's skilled workforce, world-class infrastructure, innovative research and development, and strategic position for Asia and the Pacific make it an appealing destination for high-end manufacturing.
- Hence, South Korea’s expanding manufacturing sector has increased demand for printing and industrial ink such as Videojet ink, Inkjet refills, and Hitachi parts.
Sea Ports and Trading Hubs of South Korea
Camainks uses Port of Busanwhen exporting printing products to South Korea.
- Port of Busan(Pusan)
- Port of Chinae
- Port of Daesan
- Port of Daipori
- Port of Donghae(Tonghae)
For importing Inkjet printers, Citronix printers, Videojet inks, and other spare parts, Camainks uses the largest Port of Busan when exporting to our clients in South Korea. We have exported items such as inkjet printers, CIJ printers, laser printers, and specialized brands of printer consumables including:
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- Videojet inks
- Domino inks
- Citronix cij inks
- Other printer spare parts
What Printers and Ink Do South Korea Import?
Although South Korea does have some manufacturers for printers and ink like Risograph ink and Domino Inkjet printer, South Korea still needs to import from countries such as China, Japan, Indonesia, and Taiwan. This demand for importing printers and ink in South Korea is due to its fast-growing economy. Some printers, ink, and related consumables that South Korea imports from these countries include,
Compatible Hitachi TH 60 Make Up for industrial printers
What Regulations Are There on Importing Printers and Ink to South Korea?
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- The following shipping documents are needed to clear Korean Customs for companies exporting to the Republic of Korea: commercial invoice and certificate of origin.
- Commercial invoice: The shipping documents must be accompanied by an original invoice and two copies that include the total amount, unit value, quantity, labels, product description, and shipping from/to detail.
- Certificate of Origin: Prior to the introduction of the KORUS FTA, some goods needed a Certificate of Origin in duplicate. Exporters are advised to talk to their importer about the specifications for shipping documents.
- The KORUS FTA allows importers to demand preferential treatment in exchange for a lower tariff. The importer may do so by offering written or electronic certification from the producer, exporter, or importer to Korean Customs.
- The producer or exporter's self-certification of origin is generally the basis for assessing whether the good qualifies for preferential tariff rates. By stating this in the certification, it is possible to make a certification for a single shipment or several shipments of similar products for up to twelve months. Other documents required include a bill of lading, maritime insurance, packaging lists, and an import declaration.
- The Chemical Control Act applies to all chemical importers and producers. The Ministry of Environment has prescribed and officially notified hazardous chemicals in compliance with Presidential Decree requirements. Chemicals that are likely to pose a risk, as determined by the Ministry of Environment after consultations with the heads of relevant central administrative agencies and deliberations by the Chemicals Assessment Committee in accordance with Article 7 of the Act on Registration, Evaluation, and Other Related Matters.
- Because inks contain hazardous chemicals, it is important to follow South Korea’s import regulations.
Why Should South Korea Import Printers and Ink?
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- Availability - The local industry has limited capacity and some clients in South Korea require printers and ink promptly.
- High Product Cost - Given the domestic competition in South Korea, printers and the continuous ink supply are more expensive to buy domestically than on the world market.
- Product Quality - While most international suppliers have a good brand reputation and quality, some smaller domestic manufacturers in South Korea can have variant product quality.
Where Can I Buy Printers and Ink for South Korea?
If you are looking for individual use printers and inks, there are many domestic manufacturers and distributors available in South Korea. However, if you looking for large quantities of inks, make ups and cleaning solutions, Camainks has been exporting print products such as Videojet ink, Linx printing technologies, and markem imaje 2200 to clients in South Korea. Feel free to contact us at [email protected] or WhatsApp us at +86-131-2037-9271 for a FREE quotation.
We also ship worldwide; for other countries, check out our experience here.