South Korea

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: 51.628 million (2022)
GDP: 1.67 trillion USD (2022)
Corporate Tax Rate: 24%
Personal Income Tax Rate: 45%
Major Exports: Integrated Circuits ($121B), Refined Petroleum ($61.4B), Cars ($52.1B), Broadcasting Equipment ($24.2B), and Motor vehicles; parts and accessories (8701 to 8705) ($20B), exporting mostly to China ($150B), United States ($112B), Vietnam ($60.7B), Japan ($30.5B), and Hong Kong ($28.9B).
Major Imports: Crude Petroleum ($89.1B), Integrated Circuits ($56.4B), Petroleum Gas ($46.9B), Coal Briquettes ($26.8B), and Refined Petroleum ($26.1B), importing mostly from China ($150B), United States ($73.6B), Japan ($50.8B), Australia ($41B), and Saudi Arabia ($36B).