On this page you will find beneficial information regarding foreign direct investment in / trading with South Korea. If you are interested in exploring trade or investment possibilities in the country, feel free to contact the International Trade Council team. Additionally, we encourage you to engage with the official government investment agency featured on this page.
It is important to note that while the statistics presented on this page were understood to be accurate at the time of publication, they are subject to change over time. Please consult your ITC Trade Commissioner for up-to-date information.
Type of Government: Presidential Republic
Population: 51.74 million (2021)
GDP: 1.811 trillion USD (2021)
Corporate Tax Rate: 24%
Personal Income Tax Rate: 45%
Major Exports: Integrated Circuits ($116B), Cars ($44.7B), Refined Petroleum ($36.4B), Motor vehicles; parts and accessories (8701 to 8705) ($19.3B), and Office Machine Parts ($18B), exporting mostly to China ($158B), United States ($95.9B), Vietnam ($56.5B), Hong Kong ($38.2B), and Japan ($30.1B).
Major Imports: Crude Petroleum ($60.6B), Integrated Circuits ($47.4B), Petroleum Gas ($24.5B), Refined Petroleum ($24.3B), and Photo Lab Equipment ($16.6B), importing mostly from China ($140B), United States ($66.4B), Japan ($51.1B), Australia ($29.4B), and Vietnam ($22.6B).
Investment Agency: Korea Trade-investment Promotion Agency (KOTRA)
National Chamber of Commerce: Korea Chamber of Commerce and Industry
Customs Agency: Korea Customs Service