Shortcut to Body Shortcut to main menu

Invest Korea

Search

Business Hub of Northeast Asia

  • Home
  • Why KOREA
  • Business Hub of Northeast Asia

The Center of East Asia, Logistics Hub Korea

Korea possesses optimal logistics infrastructure connecting it with major countries and cities around the world.
Located between China and Japan, it is the center of aviation and maritime logistics connecting the Asia-Pacific region as well as Eurasia and the Americas.
Furthermore, it has the potential to establish a land-based route penetrating the Eurasian continent.
Please refer to the information below Please refer to the information below
(3rd place) Liner Shipping Connectivity Index
  • Incheon International Airport
    • International Air Cargo Transport (2019) 3th
    • Total Air Cargo Volume (2019) 5th
  • Busan Port
    • Transshipment Ratio (2019) 2th
    • Cargo Volume (2019) 4th
Large view of images
※ 1) LSCI is a UNCTAD’s indicator which shows a country’s maritime shipping network from the year 2006 until now. The index evaluates data based upon six components which include the number of shipping liners servicing in a country, the number of vessels deployed from/to other ports on a monthly basis and the total container- carrying capacity etc.
※ Source: UNCTAD (2019)

Export Powerhouse Led by the Manufacturing Industry

Korea is the 7th largest exporter in the world. Exports from Korea are led by the manufacturing industry, and major items of export include semiconductors, automobiles, automobile parts, oil products, and displays. Since the worldwide outbreak of COVID-19, exports of consumer goods, medicine, and medical supplies have surged. Korea International Trade Association (KITA) said pharmaceutical exports as of September in 2020 stood at over USD746 million, a 93.6% jump year-over-year. The figure surpassed USD 700 billion mark for the first time.
2019 $542.2B, 2008 $422B, 1996 $129.7B 2019 $542.2B, 2008 $422B, 1996 $129.7B Large view of images
※ Source: KITA (2019)

The Center of East Asia and Global Trade Hub, Korea

As of now (Jan 2020), Korea has signed 16 agreements, covering 56 countries which include major economies like the EU, the US., China and the UK. Korea hereby has formed FTA networks accounting for nearly 77% of global GDP, securing the third largest trading bloc in the world.
With its geographical advantage, Korea is a gateway to the global markets that links most of the largest economies.
all over the world GDP 77% - EU 1,084, India 205, Turkey 65, China 2,434, Singapore 193, Australia 284, ASEAN 1,512, Vietnam 691, Indonesia 164, New Zealand 27, Canada 112, the United States 1,351, Colombia 19, Peru 31, Chile 52 all over the world GDP 77% - EU 1,084, India 205, Turkey 65, China 2,434, Singapore 193, Australia 284, ASEAN 1,512, Vietnam 691, Indonesia 164, New Zealand 27, Canada 112, the United States 1,351, Colombia 19, Peru 31, Chile 52 Large view of images
※ Source: MOTIE, KITA
Korea’s FTA Network
Korea’s FTA Network : Status,Country
Status Country
In Effect EFTA, EU, Turkey, India, China, Vietnam, Singapore, ASEAN, Australia, New Zealand, Canada, US, Columbia, Peru, Chile, Central America
Signed / Concluded UK, Israel, Indonesia
Under Negotiation RCEP, Philippines, Korea-China-Japan, Ecuador, Mercosur, Russia, Malaysia, Cambodia, the Philippines
Resumed / On the Agenda / Under Reviews EAEU , PA
※ Source: www.fta.go.kr, (as of Jan, 2020)