Top Import Trading Partners of South-korea - Volza

South Korea's primary import trading partners in 2023 include China (22% of imports, $150 billion), The United States (12%, $81 billion), Japan (10%, $68 billion), Germany (7%, $47 billion), and Vietnam (6%, $41 billion).

Key imports from these countries are machinery, electronics, petroleum products, chemicals, and automobiles. Trade agreements such as the Korea-China Free Trade Agreement, the Korea-US Free Trade Agreement (KORUS), and the Regional Comprehensive Economic Partnership (RCEP) facilitate smoother trade flows.

South Korea's GDP growth rate stands at 2.6%, with an inflation rate of 2.3%, impacting its import dynamics and trade policies. Strategic tariffs, government incentives for high-tech industries, and logistical advantages, including major ports like Busan and Incheon, support a balanced trade relationship, making South Korea a critical import market for these partners. The country's focus on advanced manufacturing and innovation significantly influences its import landscape.