Republic of Korea
East Asia · southern half of the Korean Peninsula
- Capital
- Seoul
- Largest city
- Seoul
- Language
- Korean
- Demonym
- Korean
- Government
- Unitary presidential republic
- President
- Lee Jae Myung (since June 2025)
- Currency
- South Korean won (KRW · ₩)
- Area
- 99,720 km² (CIA World Factbook)
- WTO member
- Yes — since 1 January 1995
- Trade ministry
- Ministry of Trade, Industry and Resources (MOTIR)
South Korea's Geography & People
South Korea occupies the southern half of the Korean Peninsula in East Asia. Seoul is the capital and largest city; the southeastern city of Busan is a major container port.
It is one of the world's leading manufacturing and exporting economies.
South Korea's Economy
Korea's exports are led by semiconductors, followed by petroleum products, computers, petrochemicals, cars, machinery, steel and ships. Memory chips for AI data centres have driven exceptional growth in 2026.
Korea relies heavily on imported energy, which made up about a fifth of its imports in August 2026 (MOTIR).
South Korea's Trade Policy
Korea has an extensive network of free trade agreements, including with India (in force since 2010) and the United Kingdom, which Korea is upgrading. It has been a WTO member since 1995.
Its trade ministry warns that US tariffs, EU steel quotas and Middle East instability are raising uncertainty for Korean exporters.
South Korea's Trade Position
Exports set a record in 2025, and 2026 has been far stronger: exports topped $90 billion a month in June, July and August 2026 (MOTIR).
China and the United States are Korea's two largest export markets, with Southeast Asia close behind as a region.
South Korea's Top Trading Partners
Goods · 2025 · MOTIR, UN ComtradeChina is South Korea's largest trading partner, with about $273 billion of two-way goods trade in 2025 Korea bought about $11 billion more from China than it sold there. The United States is second, at about $197 billion.
| # | Partner | Korea's exports to | Korea's imports from | Total trade |
|---|---|---|---|---|
| 1 | 🇨🇳 China | $130.8B | $141.9B | $272.7B |
| 2 | 🇺🇸 United States | $122.9B | $73.7B | $196.6B |
Full-year 2025. Exports from MOTIR's 2025 annual results; imports are Korea Customs Service figures as reported to UN Comtrade. Other major markets in 2025, exports only: ASEAN $122.5B, the European Union $70.1B, Latin America $31.0B, the Middle East $20.4B and India $19.2B (a record). In January–June 2026, exports to China rose 64.6% to $99.6B and to the US 50.5% to $93.5B (MOTIR).
India–Korea CEPA upgrade under negotiation
The India–Korea Comprehensive Economic Partnership Agreement has been in force since January 2010. The 12th round of talks to upgrade it was held in New Delhi in May 2026, and the two countries aim to conclude by the first half of 2027 (Embassy of India, Seoul). Check trade obstacles for your product →
Other Country Profiles
Import Summary
South Korea's Top Import Sources
Goods · 2025 · Korea Customs ServiceChina supplied $141.9 billion of South Korea's imports in 2025, about 22% of the total, roughly double the United States. Japan, Australia and Saudi Arabia follow.
| # | Country | Imports | Share |
|---|---|---|---|
| 1 | 🇨🇳 China | $141.9B | 22.5% |
| 2 | 🇺🇸 United States | $73.7B | 11.7% |
| 3 | 🇯🇵 Japan | $48.8B | 7.7% |
| 4 | 🇦🇺 Australia | $32.1B | 5.1% |
| 5 | 🇸🇦 Saudi Arabia | $27.4B | 4.3% |
Korea Customs Service figures for 2025 as reported to UN Comtrade; share is of total 2025 imports of $631.7 billion (MOTIR). In August 2026, imports from China were $15.33B (24.1% of the month's total) and from the US $7.60B (12.0%), Korea Customs Service data.
South Korea's Top Imported Products
August 2026 · MOTIRLATEST| # | Product | Imports | Share | Change |
|---|---|---|---|---|
| 1 | Crude oil | $8,300M | 13.1% | ▲ 21.2% |
| 2 | Semiconductor manufacturing equipment | $2,570M | 4.0% | ▲ 117.3% |
| 3 | Non-ferrous metals | $2,190M | 3.4% | ▲ 27.6% |
The import lines detailed in MOTIR's August release; shares are of August imports ($63,510M). Change versus August 2025.
South Korea's Import Trend
Goods · US$| Period | Goods Imports | Change vs a year earlier |
|---|---|---|
| August 2026 (month) | $63,510M | ▲ 22.5% |
| 2025 (full year) | $631,700M | ▼ 0.0% |
| 2024 (full year) | $631,767M | ▼ 1.7% |
Sources: MOTIR August 2026 release; 2025 annual results (1 January 2026); MOTIR trade balance table for 2024.
India sells far less to Korea than it buys
India's exports to Korea were $6.0 billion in FY2025-26, up 3.3%, against imports of $21.35 billion (India's Commerce Ministry, reported by PTI). India has flagged Korean non-tariff barriers and seeks better access for steel, rice and shrimp. Check import duty for your product →
Export Summary
South Korea's Top Export Markets
August 2026 (single month) · MOTIRLATEST| # | Country | Exports | Share |
|---|---|---|---|
| 1 | 🇨🇳 China | $24,100M | |
| 2 | 🌏 ASEAN (bloc) | $19,090M | |
| 3 | 🇺🇸 United States | $16,500M | |
| 4 | 🇪🇺 European Union (bloc) | $6,620M | |
| 5 | 🌍 Middle East (region) | $1,190M |
MOTIR reports exports by major market, mixing countries and regional blocs; only these five values were given for August. Exports to China rose 119.3%, to ASEAN 75.4%, to the US 89.3% and to the EU 14.6%; those to the Middle East fell 15.0%.
South Korea's Top Exported Products
August 2026 · MOTIR key itemsLATEST| # | Product | Exports | Share | Change |
|---|---|---|---|---|
| 1 | Semiconductors | $46,650M | 47.5% | ▲ 209.0% |
| 2 | Petroleum products | $6,840M | 7.0% | ▲ 65.3% |
| 3 | Computers (incl. SSDs) | $6,240M | 6.4% | ▲ 419.5% |
| 4 | Petrochemicals | $3,860M | 3.9% | ▲ 12.2% |
| 5 | Automobiles | $3,850M | 3.9% | ▼ 29.8% |
| 6 | General machinery | $3,530M | 3.6% | ▲ 1.8% |
| 7 | Steel | $2,110M | 2.1% | ▲ 7.9% |
| 8 | Wireless communication devices | $1,880M | 1.9% | ▲ 21.2% |
| 9 | Ships | $1,690M | 1.7% | ▼ 45.9% |
| 10 | Biohealth | $1,410M | 1.4% | ▲ 22.3% |
Values for the key items detailed in MOTIR's August release, in order of value; some key items, such as auto parts and displays, were not given values, so this is not a complete ranking. Change versus August 2025.
South Korea's Export Trend
Goods · US$| Period | Goods Exports | Change vs a year earlier |
|---|---|---|
| August 2026 (month) | $98,250M | ▲ 68.7% |
| 2025 (full year) | $709,700M | ▲ 3.8% |
| 2024 (full year) | $683,609M | ▲ 8.1% |
Sources: MOTIR August 2026 release; 2025 annual results (1 January 2026); MOTIR trade balance table for 2024.
What India buys from Korea
India's imports from Korea include auto parts, telecom equipment, hot-rolled steel and refined petroleum products. The two countries aim to double two-way trade to $54 billion by 2030. Check trade obstacles →