The world's 15th largest economy in terms of GDP and home to 48.9 million people, Korea offers an attractive marketplace for businesses worldwide. Moreover the EU-Korea Free Trade Agreement has been signed on 6 October 2010 and has entered into force on 1 July 2011. This FTA is regarded as one of the most ambitious trade agreements ever concluded by the European Commission and offers plenty of new opportunities to enter the Korean market as well as expand existing business activities.
The EU-Korea cooperation agreement on a Civil Global Navigation Satellite System (GNSS) was signed on September 9, 2006 in Helsinki and constitutes the political agreement for cooperation. In addition to that, the strength of Korean industry in IT and mobile communications is a very important driver for cooperation on GNSS downstream applications.
Thus it is clear that Korea offers a very high potential of industrial cooperation with Europe on GNSS downstream applications. The GNSS.asia related activities in Korea are led by the European Chamber of Commerce in Korea (ECCK), bringing its own experience, network and industrial cooperation expertise to make the project a sustainable success.
More information on the GNSS background of Korea and the local activities related to the GNSS.asia project can be found at http://korea.gnss.asia .
GNSS.asia project is funded by the European Union within the Seventh Framework Programme under grant agreement no 287244.