CYPE, the Spanish software company for architecture, engineering and construction continues its international expansion. This year it will begin marketing its products in South Korea, after signing a collaboration agreement with the Korean engineering company, Theme Enginnering, which will become the official distributor of the Spanish technology in the country.
With this collaboration agreement, CYPE takes a step forward in their bid to introduce their software for architecture, engineering and construction into the Asian market, where they already sell their different software solutions in countries such as China, Singapore, Indonesia, the Philippines, Malaysia and India, amongst others.
According to Carlos Fernández, Technical Director of CYPE, the decision to have a local partner in South Korea was taken after selling the first software licenses online, following a business trip that CYPE made to the country during the months of October and November 2019.
“The online sales and warm welcome that our products received in presentations confirmed the necessity to have a local partner. As well as marketing our products, they will also be responsible for offering face-to-face training, and advising Korean professionals on the use of our wide range of software solutions”, explains the Technical Director of CYPE.
A country in growth
The prospects of economic growth in South Korea are positive, with a GDP that will grow at rates of over 3% in the coming years, according to Banco Sabadell’s International Business Division. The construction sector will play a key role in this evolution, and will continue to increase its share in the country’s GDP over the next few years.
In this regard, a report by the Valencian Institute of Business Competitiveness (IVACE) states that the construction sector’s share in the country’s GDP has gradually increased between 2013 and 2018. In this period it has grown from 4.9% to now representing 5.8% of the national GDP.