South Korea

South Korea flag

Map of South Korea

General Overview

Population:

48,754,657 (July 2011 est.)

GDP (purchasing power parity):

US $1.467 trillion (2010 est.)

GDP per capita (PPP):

US $30,200 (2010 est.)

GDP (real growth rate):

6.1% (2010 est.)

Industries:

  • Electronics
  • Telecommunications
  • Automobile production
  • Chemicals
  • Shipbuilding
  • Steel

Imports:

US $417.9 billion (2010 est.)

Import commodities:

  • Machinery
  • Electronics and electronic equipment
  • Oil
  • Steel
  • Transport equipment
  • Organic chemicals
  • Plastics

Exports:

US $466.3 billion (2010 est.)

Export commodities:

  • Semiconductors
  • Wireless telecommunications equipment
  • Motor vehicles
  • Computers
  • Steel
  • Ships
  • Petrochemicals

Alberta's exports to South Korea:

CAN $537.7 million (2010)

Alberta's main exports to South Korea:

  • Wood pulp
  • Coal
  • Winches or capstains
  • Hides and skins
  • Ethylene glycol
  • Wheat
  • Pork
  • Part of boring or sinking machinery
  • Canola
  • Nickel
  • Malt
  • Swedes, mangolds, fodder roots, hay, pellets
  • Carbon

Canada's main exports to South Korea:

  • Coal
  • Nickel
  • Wood pulp
  • Aluminum
  • Pork
  • Uranium
  • Wheat

Information about South Korea

CIA World Factbook
Detailed information about South Korea's economy, political system and history.
Energy Information Administration
Energy profile for South Korea.
Country profile of South Korea
Detailed Library of Congress profile of South Korea.

Export statistics

Alberta's International Trade Review
An analysis of Alberta's international exports of goods and services. Published by Alberta International and Intergovernmental Relations.
Trade Data Online
Customized reports on Canada's trade with over 200 countries.

Alberta-South Korea relations

Alberta has maintained a trade office in Seoul since 1989. It is co-located in the Canadian Embassy.

World Relations
A summary of Alberta's relationship with South Korea.  

Sector opportunities for Alberta businesses interested in exporting their products

  • Agrifood: Gaining greater access to the Korean market for value-added and consumer ready food products (especially beef, pork, wheat, malting barley/malt and canola oil products) is a high priorty for Alberta. The Canadian Beef Export Federation (CBEF), in cooperation with AKO, is working to lift of the ban on Canadian Beef and processed meat products. Food consumption and purchasing behaviour have also changed as Koreans become increasingly health-conscious.

  • Biotechnology: Large business groups in Korea are aggressively developing biotechnology and life sciences products such as inorganic chemicals, herbal extracts and drug delivery systems, and pharmaceutical products. Biotechnology is a priority sector for the Korean government. Biomedical technology is expected to dominate Korea's biotechnology industry, and agricultural biotechnology is expected to play an increasing role.

  • Building products: This sector offers one of the fastest growing business opportunities in Korea. The move to the five-day work week will further propel a trend to western-style housing development.

  • Education and training: Korean parents believe their children will have access to promising career opportunities if they are fluent in English. Canada is a preferred destination, due largely to our natural-sounding accent and safe learning environment. Incomes in Korea are rapidly increasing and higher incomes mean a better lifestyle, more interchange with foreign nations and more opportunity to study abroad. The Korean government's policy is to improve the nationÕs English language capability.

  • Energy: Korean investment interest in Alberta's oilsands has been recently renewed. This activity is largely driven by Korea's need for secure energy sources, which are key to the country's continued development. Korea National Oil Corporation (KNOC) is considering an investment for an oil sands project in Alberta. Seoul City Gas (SCG) invested CAD $34 million for oil and gas exploration/production projects in Alberta. SCG is continuing to pursue this project in Alberta.

  • Information communication technologies: Home networking services using applied technologies in mobile communications technology and high-speed internet networks with electronic home appliances, such as DTV and VoD-related, home automation, home security, health care and telematics services. The Korean government plans to set up a broadband convergence network. Alberta companies may wish to explore partnering with local companies to offer solutions applicable to the broadband convergence network environment.

  • Petrochemical and refined products: Korea is importing a large quantity of petrochemicals from Alberta. Main imported products include ethylene glycol, styrene monomer and methanol. Korean companies have also expressed an interest in investing in Alberta's petrochemical sector.

Services for exporters

Canada Business
Online tool for new and experienced exporters.
The Canadian Commercial Corporation
Crown corporation that promotes and facilitates international trade on behalf of Canadian industry.
Export Alert!
A resource for exporters to learn about changes in foreign export regulations.
Export resources
Resources for both new and experienced exporters.
International Trade Canada
Sector reports as well as a list of staff contacts that can assist exporters.

Services in South Korea