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South Korea

EDC Position-open all programs

EDC's Position

  • Key EDC market  
  • Actively pursuing business
  • Open under all programs, subject to regular approval criteria

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Country At A Glance

Flag of South Korea
Map of South Korea

Country Facts

Nominal GDP1,377.90 Billion USD
Population50.29 Million
Total Trade/GDP84.84%
CurrencySouth Korean Won (KRW)
Merchandise Imports from Canada4,026.95 Million CAD
Canadian direct investment1,288 Million CAD
Main importsPetroleum, Machinery & Equipment, Semi-Conductors

EDC in South Korea

Canadian companies assisted251
International buyers insured399
Business volume763.87 Million CAD

Business Environment

South Korea is Canada’s 7th largest merchandise trading partner and our 3rd largest in Asia after China and Japan. The recently signed Canada-Korea Free Trade Agreement (awaiting ratification) is expected to boost trade between the two countries as it provides Canadian companies with unprecedented access to South Korea’s $1.1 trillion economy. South Korea has one of the most favourable business environments in all of Asia largely due to a relatively strong emphasis on infrastructure, a highly educated and skilled workforce and improved standards of corporate governance.

Key Industries

  • Agriculture
  • Automotive & Heavy Truck
  • Environmental Infrastructure & Waste Water
  • Media & Entertainment
  • Oil and Gas
  • Telecom

How we can support your business

Through our Head Office operations in Ottawa, we provide support to Canadian companies planning on or currently doing business in South Korea.

  • We are positioned to help Canadian companies through a range of financing and risk management services.
  • Learn more about our service offering.

Consult our interactive Country Risk Quarterly report.

 

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