Japan and the Republic of Korea offer significant growth opportunities for Latvian companies, but successful market entry does not usually begin with opening an office or making major investments. It starts with understanding the market, identifying potential partners and testing commercial demand.
One of the most important steps is the opportunity to meet potential customers and partners before making decisions about long-term investment. The EU Business Hub – Japan and the Republic of Korea programme provides European SMEs with practical support through business missions, tailored B2B matchmaking, market information and business coaching.
Not a one-off visit, but a long-term presence
One of the key lessons from companies’ experience is that long-term engagement often determines success in these markets.
For example, French deep-tech company Grapheal strengthened its cooperation with Japanese partners by participating in two consecutive EU Business Hub business missions. This demonstrates that a single visit may only be the beginning of building lasting business relationships.
A similar experience comes from German company Mitigant, which established a strategic partnership with a local cloud service provider after participating in the EU Business Hub @ Japan IT Week business mission, significantly accelerating its entry into the Japanese market.
Specialisation can be an advantage
For Latvian SMEs, competing with large international companies on scale is not necessarily the key to success. A strong advantage can instead be highly specialised expertise and the ability to solve a specific problem.
For example, cybersecurity companies are advised to focus on solving one critical problem exceptionally well rather than offering a broad range of services. For industrial technology companies, it is important to demonstrate measurable business value – such as higher productivity, less downtime or lower operating costs.
Sustainability solutions should likewise be positioned not only as a way to reduce emissions, but also as a business advantage that can improve efficiency and reduce costs.
A local partner can be the gateway to the market
Local partners can significantly facilitate entry into the Japanese and Korean markets. Companies’ experience shows that finding qualified contacts and building relationships with local businesses can accelerate market development and help companies better understand the specifics of the market.
This is why business missions can be an important tool for Latvian SMEs looking to test their offering, find potential customers or partners, and assess whether a particular market is suitable for long-term growth.
Support for the first step
The EU Business Hub programme offers not only business missions, but also tailored B2B matchmaking, market information, business consultations, networking with Japanese and Korean companies and financial support for accommodation during business missions. This allows European SMEs to explore these markets with lower risk.
The programme also offers specific business missions in technology, medical technology and energy, including EU Business Hub @ Semicon Japan 2026, as well as applications for EU Business Hub @ KIMES 2027 and EU Business Hub @ Smart Energy Week Spring 2027.
The Japanese and Korean markets may seem distant and complex, but successful market entry does not have to happen in a single step. The key is to start by understanding the market, finding the right partners, testing demand and building relationships over the long term.
Source: ltrk.lv
