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Posted : 2014-04-28 17:17
Updated : 2014-04-28 20:48

High entry barriers block foreign firms

By Kim Yoo-chul

Turan Erdogan
Vestel CEO




BELEK, Turkey ― Korea is the toughest market to penetrate due to various protective measures, according to the chief executive of a Turkish TV manufacturer, Sunday.


At the IFA Global Press Conference 2014, here, Turan Erdogan, CEO of Vestel, said Korea is still one of the most protected markets in the world.

"Korea is a protective market and applies stiffer barriers," Erdogan said during a session about its business strategies at an upcoming IFA fair in Berlin, Germany, from Sept. 5 to 10.

He continued; "Vestel was struggling to ship even TV samples." The firm is a subsidiary of Turkey's Zorlu Holding, and produced about 20 percent of televisions bought in Europe, which is second to Samsung Electronics.

Korea signed a free trade agreement (FTA) with Turkey in May, 2013.

Despite the FTA, the CEO said the electronics industry in Korea isn't ready to welcome new entrants as he believes Korea is applying tougher technology standards to foreign companies.

"The FTA is making things easier. I wish I could sell more of our products in Korea, but that won't be easy because of heated competitions in Korea," he told by The Korea Times.

Vestel procures panels from Samsung Display and LG Display.

In a question about the similarity of its high-resolution TV that is being installed at the venue to that by Samsung Electronics in terms of surface design, he said; "The designs of TVs all look like each other. I think we are nothing less, then."

Korea is the home of Samsung Electronics and LG Electronics, the world's No. 1 and No. 2 TV manufacturers.

He said Vestel is expanding its businesses globally. However, he stressed the company will be putting more of its resources into strengthening its position in Europe.

Vestel sells a relatively small number of TVs under its own name, dedicating almost 80 percent of production to TVs for other brands.


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