South Korea
Discover South Korea, one of the world’s largest economies.
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MyEDC account
Manage your finance and insurance services. Get access to export tools and expert insights.
Discover South Korea, one of the world’s largest economies.
What this means:
EDC takes the following into account when determining the position in a given market:
Read the Country Risk Quarterly interactive guide for valuable insights on rapidly changing global markets, new opportunities and the latest political and economic risks that could affect your business.
Read the Global Export Forecast for expert insights from the EDC Economics team on the current trends influencing global trade and Canadian exporting.
Read the latest Government of Canada travel advisory for this market.
South Korea has one of the most favourable business environments in Asia, due to its open economy, business-friendly government policies, highly skilled and educated workforce and improved standards of corporate governance. There are very few restrictions on international investments and ownerships. South Korea’s economy is heavily driven by international trade. Its industries are highly innovative and moving upstream towards cutting-edge technology. With the Canada-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. In 2023, Export Development Canada (EDC) will be opening our new representation in Seoul to better serve Canadian companies seeking to expand into this dynamic market.
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Article April 23, 2024 This booming market has significant potential for Canadian exporters
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Trade Matters November 02, 2023 Why South Korea should be top of mind for Canadian exports
This EDC Economics overview outlines the implications of the world’s largest free trade agreement and how it affects Canadian companies.
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