An area, which stands out as offering enormous potential for co-operation between SA and Korea, is that of joint ventures or joint projects.

In the new global trade order characterized by intense international competition, but also increasing economic interdependence, South African and Korean companies can be expected to co-operate in joint ventures and strategic alliances involving, for instance, mineral extraction and beneficiation, downstream aluminium steel and stainless steel processing, the development of downstream chemical and petrochemical products as well as the manufacture of a wide range of value-added textile and timber products.

It can likewise be expected that there will be increasing co-operation in the manufacture of auto components and parts (South Africa has large BMW, Mercedes Benz, Volkswagen, Nissan, Toyota and Ford production and assembly plants) and in the manufacture of computer hardware and software (South Africa has one of only three Microsoft manufacturing plants in the world).

South African and Korean engineering and construction companies can also be expected to co-operate increasingly in infrastructural, industrial facility expansion and other capital projects in Korea and in Africa. South African engineering and construction companies have developed special skills and technologies for dealing with the unique conditions of Africa and are well positioned to co-operate in large infrastructural, mineral exploration and other capital projects throughout Africa.

The recent co-operation agreement on science and technology, signed between South Africa and South Korea, is an indication of the potential of technology transfer and co-operation possibilities between the two countries.

South Africa's Free Trade Arrangements with SADC (Southern African Development Community) and the European Community opened new markets which can be entered duty and quota free. South Africa's participation in the Growth and Opportunity Act (AGOA) with the USA has also opened a huge market for South African products. Current negotiations with Mercusor and India will increase South Africa's exposure and create extra impetus to establish joint ventures and export to these markets.