South Korea is currently British Columbia’s fourth-largest export market, accounting for $1.9 billion worth of exports in 2010 alone. In order to expand the province’s already strong relationship with the country, B.C.’s government has formed the new Canada Korea Foundation, whose aims, according to the federal government, include the following:
- Building and strengthening bilateral trade and diplomatic relations
- Supporting efforts toward reaching a free trade agreement
- Helping to increase social interaction between the business communities of the two countries
- Attracting Korean students to Canada
- Advocating an energy strategy between the two countries
On top of these increased trade ties, South Korea is likewise a key market for tourism in British Columbia, with over 100,000 Koreans entering through the province in 2010. In December of the same year, B.C. saw a 19.1% increase in overnight visitors from South Korea compared to the same time in 2009, marking a welcome growth in visitors from the Asia Pacific as a whole.
With the already flourishing relationship that exists between Canada and South Korea, these recent expansions of ties in both trade and tourism are sure to spell out a prosperous future between the two countries.
A Few Things to Consider When Marketing to other Cultures:
1. Research the culture; you do not want to make a misstep by inadvertently insulting someone.
2. Look up current trends, topics, politics, issues, popular brands, etc. this will help you target your marketing to coincide with popular trends and stay away from hot button issues.
3. Understand color psychology for that culture, each culture associates color differently and you want the best color combination that will appeal to your audience.
4. Get some outside advice by consulting with a marketing/advertising firm or a sociologist that works with your targeted demographic. Run any translations through a native speaker, translation software does not always catch context.
To find out more, read the recent news release from gov.bc.ca.