Top Export Trading Partners of South-korea - Volza

South Korea's primary export trading partners in 2023 are China (25% of exports, $160 billion), the United States (14%, $89 billion), Vietnam (9%, $57 billion), Hong Kong (7%, $45 billion), and Japan (6%, $38 billion).

Key exports to these countries include electronics, automobiles, machinery, petrochemicals, and steel. Trade agreements such as the Korea-China Free Trade Agreement, Korea-US Free Trade Agreement (KORUS), and the Regional Comprehensive Economic Partnership (RCEP) facilitate smoother trade flows by reducing trade barriers and enhancing economic cooperation.

South Korea's GDP growth rate stands at 2.6%, with an inflation rate of 2.3% in 2023, impacting its export dynamics and trade policies. Strategic incentives, government support for key industries, and logistical advantages, including advanced port facilities like Busan and Incheon, promote a robust trade relationship. These factors make South Korea a crucial export market for these partners. The country's focus on high-tech industries and innovation significantly influences its export landscape.