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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 GDP1,203.00 Billion USD
Population50.27 Million
Total Trade/GDP105.39%
CurrencySouth Korean Won (KRW)
Merchandise Imports from Canada3,437.65 Million CAD
Canadian direct investment534 Million CAD
Main importsPetroleum, Machinery & Equipment, Semi-Conductors

EDC in South Korea

Canadian companies assisted263
International buyers insured534
Business volume1,646.95 Million CAD

Business Environment

South Korea has one of the most favourable business environments in all of Asia. This is largely due to a relatively strong emphasis on infrastructure, a highly educated and skilled workforce and improved standards of corporate governance. 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.

Key Industries

  • Agriculture
  • Automotive & Heavy Truck
  • Food & Beverage
  • Environmental Infrastructure & Waste Water
  • Mining & Metals
  • Oil and Gas

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. Our market experts have developed strategic relationships with major buyers in several sectors as well as a network of local contacts in the market.

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

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