A
Seminar on Austria, Trade, and Advantage Austria
On 29th April, we had a special
seminar with Ms. Emma OBENAUS from Advantage Austria. Advantage Austria is the
commercial section of the Austrian Embassy and works as part of the Austrian
Chamber of Commerce. Its main role is to support Austrian companies abroad,
provide market information, and connect Austrian businesses with local
partners. During the session, Ms. OBENAUS introduced Austria, its economy,
Austria-Korea business relations, and her own experience as a Deputy Commercial
Counselor.
At
the beginning, she explained general information about Austria. Austria is
often confused with Australia, so she humorously introduced the phrase "No
kangaroos in Austria." Austria is located in the center of Europe, and its
capital city is Vienna. Since Austria is a member of the European Union, it has
easy access to many European markets. She also explained that Austria is famous
for music, mountains, coffee houses, chocolate, and art. About 60 percent of Austria
consists of the Alps, and many famous musicians, such as Mozart and Beethoven,
are connected to Austria. She also mentioned that Francesca
Donner, the wife of Korea's first president Syngman Rhee, was from Austria,
which shows an interesting historical connection between Austria and Korea.
After that, we learned about
Austria's economy. Austria is a small country, but it is highly dependent on
exports, similar to Korea. Around half of its economic revenue comes from
exports, and many jobs are related to the export sector. Austria exports to
more than 200 countries, mainly within Europe, but trade with Asia has also
grown a lot over the last 20 years. Its major industries include machinery,
engineering, chemical products, steel, life sciences, mobility, green
technology, microelectronics, and tourism. She also described Austria as a
"land of hidden champions," meaning that many Austrian companies are
global leaders in very specific fields, even though they are not widely known
to the public.
In
the next part, Ms. OBENAUS talked about economic relations between Austria and
South Korea. Korea is Austria's 24th trade partner, and around 60 Austrian
companies are located in Korea. Austria exports machinery, vehicles, special
equipment, steel, pork, and semiconductor-related materials to Korea. In
return, Austria imports cars, machinery, plastics, and pharmaceutical products
from Korea. She also introduced several Austrian companies active in Korea,
such as AVL, Swarovski, EV Group, ENGEL, voestalpine, AGRANA, Doppelmayr, and
MED-EL. These examples showed that Austrian technology and products are already
present in many industries in Korea.
She
then explained the role of Advantage Austria in more detail. Advantage Austria
has about 100 offices around the world and helps Austrian companies enter
foreign markets. In Korea, the office provides market information, gives
business advice, organizes events, joins trade fairs, and arranges meetings
between Austrian and Korean companies. For example, they participate in
exhibitions at COEX and KINTEX and sometimes bring Austrian business
delegations to Korea. She emphasized that local Korean staff members are very
important because they know the Korean market well and have contacts in
different sectors.
During the Q&A session, one
student asked how Advantage Austria connects Austrian companies with Korean
companies. Ms. OBENAUS explained that the process requires a lot of
preparation. Korean companies usually want very detailed information before
agreeing to meet, especially large companies such as Samsung or Hyundai.
Therefore, Austrian companies need to clearly explain their business, goals,
and reasons for the meeting. Advantage Austria helps arrange meetings,
accompanies companies, supports translation, and follows up afterward.
Another
student asked about cultural differences between Austrian and Korean companies.
She answered that Korean business culture is generally faster and more
detail-oriented, while Austrian companies may focus more on building personal contact
first. She also said that in Korea, people may not directly say "no,"
so foreign companies need experience to understand the real meaning during
negotiations. There was also a question about Austria being a landlocked
country. She explained that not having a seaport can be a disadvantage, but
Austria uses its strong infrastructure and European transport networks,
including the Danube River.
Lastly, Ms. OBENAUS shared her
personal career path and advice. She studied law in Austria and completed several
internships before joining the Chamber of Commerce. Korea is her first overseas
posting, and she said that flexibility is important in diplomatic and
trade-related careers. She also explained that students interested in this
field should study law, economics, business, or related areas, and language
skills are also important.
Overall,
the seminar was meaningful because we could learn about Austria's economy and
its relationship with Korea from a professional working in the field. It was
interesting to see how a small country like Austria plays an important role in
global trade through exports, technology, and hidden champion companies. The
session also helped us better understand international business cooperation
between Austria and Korea.
Seo Jun Lee &
Won Seok Jang
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Advantage Austria: Connecting Innovations and Markets
between Austria and Korea
On April 29th, our
university hosted an insightful seminar featuring Ms. Emma OBENAUS, the Deputy
Commercial Counselor at Advantage Austria. As the commercial section of the Austrian
Embassy and a key pillar of the Austrian Chamber of Commerce, Advantage Austria
serves as a vital bridge, connecting Austrian businesses with global markets
and supporting their entry into complex international landscapes. During the
session, Ms. OBENAUS provided a comprehensive overview of Austria’s economic
landscape, its strategic partnership with South Korea, and her professional
journey as a diplomat working in the field of international trade.
Austria is often
celebrated for its breathtaking Alps, which cover about 60 percent of the
country, and its rich cultural heritage that includes world-renowned musicians
like Mozart and Beethoven. However, Ms. OBENAUS highlighted that Austria is
much more than just a tourist destination. Humorously noting the "No
Kangaroos in Austria" slogan to avoid common confusion with Australia, she
emphasized Austria’s strategic position in the heart of Europe. As a member of
the European Union, Austria acts as a gateway to the broader European market,
supported by its capital, Vienna, which serves as a major international hub
accessible within a three-hour flight to almost anywhere in Europe.
Interestingly, she also pointed out a historical bond between our two nations
by mentioning that Francesca Donner, the first lady of South Korea’s first
president Syngman Rhee, was Austrian.
Despite its
relatively small size, Austria’s economy is a powerhouse driven by exports,
which account for nearly half of its total economic revenue. This heavy
reliance on global trade mirrors the economic structure of South Korea, making
the two countries natural partners. Ms. OBENAUS described Austria as the
"Land of Hidden Champions," referring to the numerous specialized
companies that lead their respective global niches. These companies, such as
Doppelmayr in cable car systems or MED-EL in hearing implants, are global
market leaders even if they are not household names to the general public. The
major industries driving this success include engineering, machinery, green
technology, and life sciences, all of which prioritize high-quality innovation
and specialized expertise.
The economic
synergy between Austria and South Korea is significant, with Korea standing as
Austria’s 24th largest trade partner. Currently, approximately 60 Austrian
companies operate within Korea, ranging from high-tech manufacturing to luxury
goods. The trade relationship is highly complementary; Austria exports advanced
machinery, semiconductor-related materials, special steel, and agricultural
products like pork to Korea, while importing automobiles, plastics, and
pharmaceutical products in return. Famous brands like Swarovski, Red Bull, and
AVL are prominent examples of Austrian excellence that have already become
deeply integrated into the Korean lifestyle and industrial supply chains.
To support this
vibrant exchange, Advantage Austria operates roughly 100 offices worldwide,
providing market intelligence and business advice to Austrian firms. In Korea,
their office plays a crucial role in organizing events, participating in major
trade fairs at COEX and KINTEX, and arranging high-level meetings between
companies. Ms. OBENAUS explained that the process of connecting companies
requires immense preparation, as Korean conglomerates like Samsung or Hyundai demand
extreme detail and professional clarity before agreeing to any initial meeting.
She also noted cultural differences in business, such as the fast-paced nature
of Korean efficiency compared to the Austrian focus on building personal trust
first, and the subtle communication styles often found in Korean
negotiations.
The seminar
concluded with a look at Ms. OBENAUS’s own career path and advice for students.
Having studied law and completed several internships before her posting in
Korea, she emphasized that flexibility and strong language skills are essential
for success in diplomatic and trade-related fields. This session was truly
meaningful, offering a valuable perspective on how specialized technology and a
strong export focus allow a small nation to play a leading role in global
trade. It provided us with an inspiring look into the future of international
business cooperation and the diverse career opportunities available in the
global market.
Seminar Highlights: Q&A and Professional InsightsFollowing the main presentation, an
engaging Q&A session provided a deeper look into the practicalities of
international trade and Ms. Obenaus’s personal experiences. When asked about
her assignment to Korea, she explained that the Austrian Chamber of Commerce
operates on a rotational basis, typically assigning overseas positions for
three to four years. In the early stages of one's career, these locations are
often assigned by the organization rather than chosen by the individual,
requiring a high degree of adaptability. Her own professional foundation was
built through four diverse internships—including a legal role at a notary
office, work at a library, and experience within the Chamber of Commerce—three
of which were directly related to her major.
One of the most
practical parts of the discussion centered on the process of connecting
Austrian and Korean firms. Ms. Obenaus noted that finding the right person in
charge within Korean organizations can be challenging, making the role of local
project managers indispensable. She advised that companies must prepare highly
detailed information regarding their goals and meeting purposes to facilitate
initial contact, emphasizing that face-to-face meetings remain the most
critical element of building a business relationship. Advantage Austria
supports this by accompanying companies to meetings, providing interpretation
through local staff, and offering comprehensive follow-up support.
Among various
sectors, Ms. Obenaus identified the startup industry as the most exciting. She
enjoys observing their growth and exploring new market possibilities that
innovative young companies bring to the table. When addressed about Austria’s
geographic limitation as a landlocked country, she admitted that while the lack
of seaports is a disadvantage, the country focuses on maximizing its existing
infrastructure and European networks, though it remains sensitive to global
logistics disruptions.
The cultural
dialogue was equally enlightening, with "work speed" identified as
the most prominent difference. Ms. Obenaus observed that Korea’s efficiency and
speed are particularly remarkable, which contrasts with the different pacing in
European business environments. Furthermore, she highlighted differences in
communication styles; since direct expressions can sometimes be sensitive in
Korea, she noted that gaining experience and a deep understanding of local
culture is essential for successful negotiations. Reflection
Attending Ms. Emma
Obenaus’s lecture was a profoundly meaningful experience. It was fascinating to
learn how a small nation like Austria maintains such high global
competitiveness through an export-oriented economic structure and a portfolio
of specialized companies. Beyond the numbers, the session provided a holistic
view of Austrian culture and the intricate trade relationship it shares with
Korea. Understanding the nuances of business culture and the practical
challenges of international diplomacy has given me a much clearer perspective
on the global market and the strategic cooperation required between our two
nations.
Yejin Yu, Yun Jang
