Countries
South Korea: trade by HS code
- US$721bnExports 2024
- US$615bnImports 2024
- 5,219HS6 · Exports
- Eastern AsiaRegion
- South Korean Won (KRW)Currency
In 2024, exports from South Korea came to US$721bn and imports to US$615bn.
Its main exports were memory chips (8542.32), processors and controllers (ICs) (8542.31) and petrol cars, 1500-3000 cc (8703.23).
Its largest customer was China and its largest supplier China.
In the 12 months to August 2026, the UK imported goods worth £8.1bn from South Korea (+35% on the year before), above all electric cars (battery only), unwrought silver and hybrid cars, petrol (non-plug-in), and exported £3.5bn to it.
Under the UK–South Korea agreement, 97% of the UK tariff lines are duty-free for goods from South Korea that meet the rules of origin.
South Korea and the UK
Agreement or scheme: UK–South Korea agreement
What the UK imports from South Korea
- 8703.80Electric cars (battery only)
- 7106.91Unwrought silver
- 8703.40Hybrid cars, petrol (non-plug-in)
- 3304.99Other skin care and make-up preparations
- 8517.13Smartphones
- 3002.15Immunological products, dosed or retail
- 8703.21Petrol cars up to 1000 cc
- 8807.30Other aircraft and drone parts
- 8704.60Electric trucks and vans
- 2710.19Petroleum oils and oils obtained from bituminous minerals: other
Data up to August 2026 (provisional) · HMRC
South Korea and the EU
Agreement or scheme: EU–South Korea agreement
What the EU imports from South Korea
- 8473.30Computer parts and accessories
- 8703.80Electric cars (battery only)
- 3002.14Immunological products, mixed, bulk
- 3002.15Immunological products, dosed or retail
- 8523.51Solid-state storage (flash drives, memory cards)
- 8901.20Tankers
- 8703.40Hybrid cars, petrol (non-plug-in)
- 8542.31Processors and controllers (ICs)
- 8542.39Other electronic integrated circuits
- 8517.13Smartphones
Data up to August 2026 (provisional) · Eurostat Comext
Top exports
- 8542.32Memory chips
- 8542.31Processors and controllers (ICs)
- 8703.23Petrol cars, 1500-3000 cc
- 8901.90Cargo ships and other goods vessels
- 8542.39Other electronic integrated circuits
- 8473.30Computer parts and accessories
- 8524.12OLED panels without drivers
- 8703.40Hybrid cars, petrol (non-plug-in)
- 8703.22Petrol cars, 1000-1500 cc
- 8703.80Electric cars (battery only)
- 8523.51Solid-state storage (flash drives, memory cards)
- 8529.90Parts for TV, camera and display apparatus
- 8703.24Petrol cars over 3000 cc
- 3304.99Other skin care and make-up preparations
- 8901.20Tankers
- 8708.99Other motor vehicle parts
- 8507.60Lithium-ion batteries
- 2902.43Para-xylene
- 3002.15Immunological products, dosed or retail
- 8534.00Printed circuit boards
Top imports
- 2709.00Crude oil
- 2711.11Liquefied natural gas (LNG)
- 8542.31Processors and controllers (ICs)
- 8542.32Memory chips
- 2701.12Bituminous coal
- 8486.20Machines for making semiconductor devices/ICs
- 8542.39Other electronic integrated circuits
- 2601.11Iron ore, non-agglomerated
- 8473.30Computer parts and accessories
- 8507.60Lithium-ion batteries
- 2603.00Copper ores and concentrates
- 8486.90Parts for semiconductor manufacturing machines
- 8703.40Hybrid cars, petrol (non-plug-in)
- 3004.90Other medicines, dosed or for retail sale
- 2711.12Liquefied propane
- 8471.30Laptops and portable computers (max 10 kg)
- 8703.23Petrol cars, 1500-3000 cc
- 8544.30Vehicle wiring harnesses
- 8534.00Printed circuit boards
- 8517.79Telephone and network equipment parts
Main buyers from South Korea
Main suppliers of South Korea
Economy, trade and logistics
Key figures on the size of the economy, its place in world trade and how fast goods cross its borders, from the World Bank and UN Trade and Development (UNCTAD). Each value shows the year it refers to.
| Indicator | Value | Year |
|---|---|---|
| Economy | ||
| Population | 51.7m | 2025 |
| GDP (current US$) | US$1.9tn | 2025 |
| GDP per person (current US$) | US$36,227 | 2025 |
| Trade in goods and services, % of GDP | 86% | 2025 |
| Trade | ||
| Share of world goods exports | 2.7% | 2025 |
| Share of world goods imports | 2.37% | 2025 |
| Products exported (SITC 3-digit groups) | 248 | 2025 |
| Export concentration index · 0 = exports spread evenly across products, 1 = a single product | 0.219 | 2025 |
| Average applied tariff, simple mean, all products | 5.7% | 2022 |
| Average applied tariff, trade-weighted, all products | 5.7% | 2022 |
| Logistics | ||
| Logistics Performance Index (LPI) · score from 1 (low) to 5 (high) | 3.8 | 2022 |
| LPI: efficiency of customs and border clearance | 3.9 | 2022 |
| Liner shipping connectivity index · rank 2 in the world | 634.6 | 2026 Q3 |
| Container port throughput (TEU) | 31.9m | 2024 |
| Median time ships spend in port (days) | 0.85 | 2023 |
Time and cost at the border (2019)
For one shipment of the country's typical traded product, as measured by the World Bank's Doing Business survey in its last edition; the survey has since been discontinued.
| Indicator | Import | Export |
|---|---|---|
| Border compliance (hours) | 6 | 13.4 |
| Documentary compliance (hours) | 1 | 1 |
| Border compliance (US$) | US$315 | US$185 |
| Documentary compliance (US$) | US$27 | US$11 |
World Bank, World Development Indicators (CC BY 4.0); UNCTADstat (CC BY 3.0 IGO)
Questions and answers
What does South Korea export most?
In 2024, its largest export at the six-digit level was memory chips (HS 8542.32), worth US$75bn.
Does the UK have a trade agreement with South Korea?
Yes: goods from South Korea can enter at preferential rates under the UK–South Korea agreement, duty-free on 97% of tariff lines, provided they meet the rules of origin and come with proof of origin.