THE AUSTRIAN BUSINESS BAROMETER 2023 - Korea, Republic summarizes the results of the survey conducted among branch offices of Austrian companies exclusively in Korea (Republic). Out of the approximately 60 Austrian branch offices in the country, 15 took part in this year's survey from mid-October until beginning of November 2023 and shared their experiences from the year 2023 as well as their expectations for the upcoming year.
KEY FINDINGS:
- Two-thirds of those surveyed stated that their company's turnover in Korea (Republic) has increased or at least remained the same in the past 12 months.
- The degree of digitalization and the infrastructure are seen as particularly positive aspects of Korea (Republic) as a business location.
- Almost half of Austrian branch offices surveyed in Korea (Republic) expect the general business climate/the economic situation in the country to develop positively over the next 12 months.
- The majority of the Austrian branch offices surveyed in Korea (Republic) expect an increased number of orders over the next 12 months.
- The Russia-Ukraine war and Protectionism (e.g., import/export/investment restrictions by countries and economic blocks) are perceived to pose the greatest risk potential for the Austrian branch offices business activities in Korea (Republic).
