South Korea Companies Uganda Should Target


viagra geneva;”>Their purpose is to encourage the government to seek more in depth collaboration and to inform Ugandans on how other countries do business. I believe in an informed society. These can ultimately enhance our political, economical, and social ethics.

In this series, we are going to look at countries which can be beneficial to our young but emerging industrial Uganda. I have used the word emerging due to the environment Uganda is experiencing at the moment.

On many lips and minds of Ugandans, there is a sense that the country is set to rapid industrial revolution and development. Yes, there are difficulties in our way, but when a nation has goals and visions, we have to plan how to get those goals and visions fulfilled. One of those countries that can help Uganda is South Korea.

The President had a meeting recently with the Korean delegation and welcomed them to be partners and invest in the country. I have listed briefly the top companies which are doing good business and can play a significant role on our journey to industrialization.

Of course this information is not exhaustive but can help in identifying key information in this series.

Ten Top Companies Uganda Can Do Business With South Korea.

1. Samsung is listed as a semiconductor company and yes they are big in that but I think of them as a conglomerate.

If you have been to Korea, Samsung is connected to everything in some way. Two-thirds of their gross sales comes from handsets, networking systems and other consumer electronics (TV, monitor, printer, computer and home appliances). The rest comes from semiconductor and LCD components.

2. Hyundai Motor – It is really called the Hyundai-Kia Automotive group. As with most Korean global companies, the export market sales dwarfs the domestic market sales.

3. Hyundai Heavy Industries – This company is the #1 Shipbuilder in the world. A lot of their revenue comes from heavy equipment, Pipelines and Oil Platforms.

4. LG – For LG, “Life’s Good”. LG consists of 5 major business groups–Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning, and Business solutions. The biggest of which is home entertainment which is over 37% of their sales. The Lesser knowns? There are some names on the list that some may not know. If you have been to or dealt with Korea, these names would be familiar.

5. Posco – The 3rd largest steel manufacturer in the world.

6. Korea Electric Power – Owned by the government but now exporting its Nuclear Energy technology. Sales was around $23B in 2009.

7. Banking – There are four banking institutions on the list. The Asian banking crisis changed the banking landscape in Korea.

8. a. Shinhan Financial – Very young company, incorporated in 2001. However some strife at the top due to some scandals in recent months.

8.b Woori Finance Holdings – Another very young financial institution, formed in 2001 from the forced merger of four predecessor commercial banks and an investment bank (Hanvit, Peace, Kwangju and Kyongnam Banks and Hanaro Investment Banking and their subsidiaries).

9. KB Financial Group – Two banks merged(Kookmin Bank and H&CB) in 2001 creating KB Financial Group. KB is the largest bank by both asset value and market capitalization in South Korea.

10. Industrial Bank of Korea – This bank is owned by the Government of the Republic of Korea (South Korea).

Uganda can benefit to do business with South Korea due to our cordial relationship. As a strategically placed country in East and Central Africa, Uganda can built manufacturing and assembling plants to serve the region.

In addition to the manufacturing, South Korea has very vibrant financial resources that can be utilised in form of loans to service the thirsty industries. The South Koreans come with the full package.

Some of the leading expertise Uganda can learn from are:

Nuclear: Korea has very advanced nuclear power know how.

Hydro Power: South Korea manufactures turbines and other heavy machines used in hydro power stations.

Steel: They can help in steel smelting which the country needs for construction of infrastructure and heavy manufacturing industry.

Airports: Uganda should start plans for a second International Airport away from Entebbe. That can come with the new strategically proposed city of KARUMA.

Railways: When we talk of railways, this can be of great interest to facilitate our vision 2040. Everyone knows the benefits of a functioning railway line.

The Government of Uganda can also benefit from a high level visit to South Korea and inviting the President of that country President Park Geun-Hye to pay Uganda a working visit. (This was written for Uganda Research Development and Innovation Forum before The President went to South Korea. It can still be of great significance to Uganda and her citizens)



David Wangusi Masinde,

Uganda Research Development and Innovation Forum

London United Kingdom.


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