South Korea is on the cutting edge of a number of industries. Sholto Lindsay-Smith writes from the UKTI’s recent trade mission

On a recent UK government sponsored trade mission to South Korea, I discovered an industrial powerhouse that is exerting soft power through the export of K-Pop and K-drama, and investing in design, culture and the arts.

Ask yourself what you know about Korea. You will be able to place it in Asia but will probably struggle to pinpoint it immediately on a map. Most likely, the first association that will come to your mind will be North Korea – it is the dominant front of mind perception, fuelled by exaggerated media reports of the tension between north and south. But here is an interesting fact: every time there is a skirmish or tension between the north and south, the Korean stock index rises. It says something about the spirit of a nation that has built itself up from the ashes of the Korean War to become the 13th largest economy in the world. Here are some other stunning facts:

According to Brand Finance’s ranking, Korea boasts three of the most valuable 100 brands in the world with Samsung, Hyundai and LG. Yet other research has shown that many consumers would identify the first two brands as Japanese and the latter American. Interestingly, there has always been concern about the ‘made in Korea’ tag causing a  brand deficit which has perhaps held the country back from promoting its successes.

Today, the country is a middle power in the G20, able to play a key role as a broker between other nations. The leader of the World Bank and the secretary-general of the United Nations are Korean. However, Korea’s greatest global ambassador today is probably Psy. His global YouTube GANGNAM style sensation has nearly reached 2bn views. This is not to everyone’s delight in Korea, but it is the leading edge of a new K-wave that is now reaching out globally. Korea’s K-Pop and K-Dramas have become a huge export across Asia and the Middle East. This has helped soften hostile attitudes toward Korea from Japan and China as well as put it on the map as a tourist destination.

But its economic power and success goes much deeper than this. Not only did a Korean company create the world’s best selling smartphone and world’s first curved TV. It was a Korean company that build the world’s tallest building – the Burj Khalifa in Dubai – and it is a Korean company that is currently building the world’s largest ship. Korea’s capital Seoul offers its citizens access to free wifi and the country will likely be the first to crack 5G, enabling one second film downloads. This will make it the test bed for all future technologies.

These advances in hi-tech industry are all underpinned by a strong work ethic and educational advancement. Korean 15-year-olds ranked highest in maths and english in the world PISA ranking and Korea has three universities in The Times Higher Global Top 100.

Concerned about the need to spawn future entrepreneurs and grow its creative sector, Korea is investing in design too. The newly opened Zaha Hadid Dongdaemun Design Plaza is testimony to this. Fittingly, our tour guide told us an anecdote that sums up Korean ‘can do’: on learning that a German supplier would require 20 years to deliver the 45,000 individually sized aluminium tiles required to clad the surface of the building, Korea solved the problem in under three years by applying cutting-edge technology used in the automobile, aviation, ship and medical fields.

Sholto Linday-Smith is the director of strategic brand consultancy, Industry.