Doing Business in Korea

The Republic of Korea (ROK), commonly known as Korea and formerly known as South Korea, is the fourth-largest economy in Asia and the 13th largest in the world. It is an innovative, free-market economy with a highly educated workforce and democratic government. 

Korea is a dynamic country with many opportunities for Australian businesses. It has an advanced manufacturing sector and is home to iconic and world leading brands such as Samsung, LG, Hyundai and Kia. The nation boasts an affluent, tech savvy population with a well-educated, highly skilled workforce. 

Korea is an optimal location for doing business with the world's second and third-largest economies (China and Japan) and engaging the overall Asian market. The Korea-Australia Free Trade Agreement (KAFTA), which came into force in December 2014, promises to open up even more opportunities for Australian businesses. 

KAFTA is one of the most comprehensive trade deals completed by Australia with any nation, delivering big improvements in market access and tariff elimination or reduction for exporters of goods and services. The agreement secures Australia’s competitive position in the Korean market.