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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

EDC has identified South Korea as a key market and is actively pursuing business in the country. South Korea has one of the most favourable business environments in all of Asia due to a relatively strong emphasis on infrastructure, a highly skilled and educated workforce and improved standards of corporate governance. With the Canada-South Korea Free Trade Agreement (CKFTA) now in place, Canadian exporters have preferential access to one of the world's largest economies and are exposed to more opportunity due to tariff elimination in a broad range of sectors. South Korea also serves as an effective strategic base for companies and investors looking to expand their presences in Asia and across its vast supply chains.

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.


Related Information

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