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South Korea

Market Profiles

South Korea

In 2017, Alberta exported $414.1M worth of goods to South Korea, making it the 5th ranked country in terms of Alberta's exports.
In 2017, Alberta exported $414.1M worth of goods to South Korea, making it the 5th ranked country in terms of Alberta's exports.
In 2017, Alberta exported $414.1M worth of goods to South Korea, making it the 5th ranked country in terms of Alberta's exports.

About South Korea

FAST FACTS

KEY INDUSTRIES Information Icon

ALBERTA EXPORTS TO SOUTH KOREA Information Icon

VALUE OF ALBERTA EXPORTS TO SOUTH KOREA
2017
$413.9M
+14.7% y/y
TRADING PARTNER RANK

#5

SOUTH KOREA IMPORTS Information Icon

VALUE OF SOUTH KOREA IMPORTS
2016
$380.5B
+28% y/y
TOP IMPORT MARKETS
  • 1. China 22.6%

  • 2. Japan 12.2%

  • 3. United States 10.9%

  • 4. Germany 5.1%

  • 5. Saudi Arabia 3.9%

ALBERTA-SOUTH KOREA RELATIONS

  • Alberta has long enjoyed positive relations with the Republic of Korea (commonly known as South Korea). 
  • Alberta’s oldest sister province relationship is with Gangwon province in South Korea. Since the September 3, 1974 agreement, the two provinces have participated in a variety of activities including education, culture and sport exchanges.

Trade Agreements:

  • Canada-Korea Free Trade Agreement (CKFTA): 

    The Canada-Europe Comprehensive Economic and Trade Agreement (CETA) entered into provisional application September 21, 2017. CETA will open new trade opportunities with a block of 500 million consumers accounting for 22 percent of global GDP.

    On implementation 98 percent of tariff lines fell to zero immediately. Of the remaining 2 percent of tariff lines, half will be phased out over the next five to seven years. 99 percent of all products exported to the EU will be duty free.

    On June 23, 2016 the UK voted to leave the EU, with the date for the UK to exit from the EU set for March 29, 2019. However, CETA will continue to apply for exports to the UK during a transition period that is currently set to last until December 31, 2020. Neither Canada nor the UK wish to lose the benefits to trade of CETA and wish to have as smooth a transition as possible to a future Canada - UK free trade agreement. Canadian and British trade officials are currently engaged in technical discussions to try to ensure a seamless transition.

  • WTO Agreements

South Korea flag

For more information on South Korea-Alberta relations, download:

South Korea-Alberta Relations

For information on Alberta's relationship with South Korean provinces, download:

Gangwon-Alberta Relations

CONTACTS
For more information on Alberta’s trade and relationship with this market please contact:
Export Services
Fabricio Lima Asia Pacific Office Phone : 1-780-427-6307 Email: fabricio.lima@gob.ab.ca
Investment Services
Bonnie Nunnari Invest Alberta Phone : 780-427-0528 Email: bonnie.nunnari@gov.ab.ca
International Offices
Alberta Korea Office Phone : 82-2-3783-6000 Email: albertakoreaoffice@international.gc.ca

RELATED CONTENT

International Office

Alberta Korea Office - /international-offices/korea/
The Alberta Korea Office develops important business relationships and can help your company pursue your international business goals. Invest in Canada. Invest in Alberta.