16/08/2024

It

is worth saying that this region is quite difficult for trade and business, as it has historically happened. But, it is precisely where it is difficult that there is usually less competition and higher profits. Let's figure out what goods countries trade, how they are delivered, and who should try to find partners in South Korea.

What do countries sell?

Let's immediately remove raw materials and resources (energy) from the list, because, firstly, only giant companies can trade such things, and secondly, judging by official statistics, the turnover of such products has been suspended.

Russia is increasing its export of metals to this country. For example, in the first half of 2024, the Russian Federation increased its aluminum supplies to South Korea by about 20%. Now Russia is among the top 3 countries in metal supplies to the country.

In addition to aluminum, companies from Russia supply cast iron and rare earth metals to South Korea.

Another point worth highlighting is chemical products. The export of radioactive materials has increased.

South Korea also exports fish, corn and other food products, cellulose and lumber. But the percentage of supplies is constantly decreasing. The country prefers to buy these products from other suppliers.

A more interesting situation is observed in goods imported from South Korea to the Russian Federation

 

What goods can Russian business make money on?

For example, supplies of chemical products are growing. Especially from the beauty industry. These are, for example, cosmetics, paints and varnishes, chemicals for construction.

These products are in great demand on the Russian market. And they can be supplied in small batches. The beauty industry will always be relevant, and you can always make money by supplying salons or companies with high-quality cosmetics from South Korea.

The list of relevant goods also includes varnishes/paints. Now in Russia they are building a lot of new facilities, so building materials are always in demand. The supply of such products from South Korea can bring additional profit for your company.

The amount of food products imported to Russia is also growing, especially tea, coffee, and edible plants. Importing such goods can be profitable for those business owners who own stores/retail chains and restaurants in Russia.

 

What about logistics between the countries?

It is quite complicated. Only air and sea delivery are used. The first option is faster, but much more expensive. Therefore, most often, goods are delivered in containers by water.

But products with a short shelf life or when it is necessary to deliver goods to Russia or in the opposite direction faster, choose delivery by plane. As a rule, it takes 5 days.

Cargo from South Korea is sent by water from the ports of Busan and Incheon. They arrive at the ports of Vladivostok, Novorossiysk and St. Petersburg. Delivery time greatly depends on the timing of customs clearance of goods. Transit time is usually from 8 to 45 days.

Conclusion

Considering that not many companies are engaged in the delivery and sale of goods from South Korea, they are valuable on the Russian market. And if you are ready to put up with all the difficulties, then cooperation with business representatives in South Korea can bring additional profit to your company.

Those who are not afraid of difficulties and risks often achieve success. And in a rapidly changing market, why not acquire reliable partners who may be useful in the future?