If your company or startup is involved in the world of high-tech and East Asia, chances are you have, or will be doing business in South Korea soon. Korea is a force to be reckoned with when it comes to market size and competitiveness, as well as technological output and cutting-edge innovations. One of the key elements in working with, and in South Korea, is the ability to identify and work with a solid Korean to English translation service (and English to Korean) as language translations can still be a bit of a stumbling block in this part of Asia.
About South Korea
Korea is an awesome place (to use a colloquial term) for high-tech companies to do business. While the southern tip of the Korean Peninsula might be small in actual geographic scale, it’s enormous as far as industrial and global technology goes. This country of 50 million people or so, with its rich cultural traditions, strong export economy, powerful conglomerates (chaebols) and push to elevate the power of small and medium-sized businesses — along with the famous chaebols (Daewoo, Hyundai, LG, Samsung, SK Group and more) — has been ranked #33 on the Forbes list of the best countries in the world to do business.
When diving into Korean tech and business world from outside the country, Korean translation services are a big deal. The Korean market, with a GDP of just over $1.4 trillion, is set to grow in the coming years — even despite a few economic shocks, many stemming from China’s recent economic slowdown. As the Three-year Plan for Economic Innovation (an economic and structural reform started in 2104)) is well underway, and green technology is promoted throughout the country — in addition to the fact that the traditional tech sectors still tend to be strong — South Korea is alluring to investors and entrepreneurs. Businesspeople looking for new technological ideas and commercial opportunities, or who just want to get more involved in an economy with a proven track record, need to focus on the business side of things, obviously — which includes professional Korean translations.
The Importance of Korean to English Translation Services
The reason Korean to English translation services are so vital when working in Korea is that despite the many innovations coming out of Korea from big companies like Hyundai and Samsung, with a ton of cash being poured into R&D (Bloomberg cited Korea as having the world’s most innovative economy), practical knowledge of English is still a thorny issue. While most educated South Koreans can read and write some basic English, and know how English grammar works, they often don’t get a lot of practice speaking English or writing it well. Korean translators and Korean translation services help bridge this gap in the business world.
Students in Korea (and Japan) study very hard, but their languages education is oriented toward exams and getting good grades, and then getting into good universities. Memorizing grammar and vocabulary is emphasized, whereas actual, functional language skills are not. This means that down the line, translation services play a big part in driving and continuing business interactions in the South Korean export economy.
Of course, the language barrier hasn’t stopped Korea from becoming a high-tech global exporting giant. The key, which should be clear by now, is working with a reputable Korean translation service that knows the ins and outs of the Korean language, and the Korean way of doing business. Once you’ve sorted that out, the commercial and high-tech possibilities on the Korean Peninsula are virtually limitless.
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