Country profile
South Korea
An export economy led by semiconductors, vehicles, machinery, refined fuels and plastics.
Updated 10 November 2026. Sources at the bottom of the page.
- Capital
- Seoul
- Population
- 51.7 million (2025)
- Currency
- South Korean won (KRW)
- GDP, 2026
- US$2.25 trillion
- Exports, 2025
- US$708.9 billion
- Exchange rate
- 1 USD = 1,345 KRW (9 Nov 2026)
Economy
IMF World Economic Outlook, October 2026. 2026 and 2027 are IMF projections.
3.3%Real GDP growth, 2026
2.8%Real GDP growth, 2027
2.7%Inflation, 2026
2.8%Unemployment, 2026
47.3% of GDPGovernment debt, 2026
18.8% of GDPCurrent account, 2026
Trade
Top export markets
Share of the country’s exports, 2025
- China (18.4%)
- United States (17.4%)
- Vietnam (8.9%)
- Taiwan (6.9%)
- Hong Kong (4.9%)
Main exports
Product groups, share of exports
- Electrical machinery and equipment, including chips (33.1%)
- Vehicles (13%)
- Machinery, including computers (12%)
- Mineral fuels, including refined oil (6.7%)
- Plastics (4.8%)
Main trade agreements
- Korea–US Free Trade Agreement (KORUS)
- EU–Korea Free Trade Agreement
- Korea–China Free Trade Agreement
- Regional Comprehensive Economic Partnership (RCEP)
- Korea–ASEAN and Korea–Vietnam free trade agreements
Trade policy to watch
- Chips and batteries: Korean memory chip, battery and car makers are investing heavily in US plants.
- Critical minerals: Korea’s battery and chip makers depend on Chinese graphite, gallium and other minerals that are subject to Chinese export controls.
- Two large markets: China and the US each take about 17–18% of Korean exports, so tension between them affects Korean suppliers.
Energy
Korea imports almost all of its energy. Nuclear, coal and LNG each produce a large share of its electricity, and renewables are growing from a low base.
What it means for your supply chain
- Korea is a key source for memory chips, batteries, displays, steel and petrochemicals.
- Ask Korean battery and electronics suppliers how they source critical minerals.
- Memory chip demand from AI has tightened supply; agree allocations and lead times early.
Sources
- IMF, World Economic Outlook, October 2026: GDP, growth, inflation, unemployment, government debt, current account (2026 and 2027 are projections).
- World Bank: population (2025).
- World’s Top Exports, 2025: export markets and main exports.
- Bank of Canada, daily exchange rates, 9 November 2026 (cross rates calculated from CAD rates).
- Energy Institute, Statistical Review of World Energy 2026: energy profile.
Figures are the latest published at the time of the update and may since have been revised. This page is for general information, not investment or legal advice.