Search
utility-emailutility-printutility-pdfContact usChange to standard fontChange to large font
South Korea map
Republic of Korea
  • Imports from the Republic of Korea A$12,057 million
  • Exports to the Republic of Korea A$22,524 million
  • Capital Seoul
  • Official Language Korean
  • Area 99,000 sq km
  • Population 50.2 million

Market profile

Insights and opportunities

Korea Australia Free Trade Agreement and Business Opportunities in Korea

Read bio and full transcript

 

Latest news

Latest from Austrade
Australian wines the toast of Korea
18 Mar 2015
A recent masterclass on Australian wine, attended by more than 100 Korean wine industry representatives, was designed to improve awareness of and increase export opportunities for Australian winemaker ...
Media releases
Australia supports APEC scholarships portal (Ministerial)
24 Feb 2015
Minister for Trade and Investment Andrew Robb and Minister for Education and Training Christopher Pyne have welcomed the launch of a new APEC scholarships and internships online portal.
Media releases
Robb: FTAs delivering results for Tasmanian farmers (Ministerial)
13 Feb 2015
After only two months in force, Minister for Trade and Investment Andrew Robb said Australia’s Free Trade Agreement with Korea (KAFTA) was already delivering significant benefits to Tasmania – particu ...
Latest from Austrade
Korea-Australia Free Trade Agreement to enter into force this month
4 Dec 2014
The Korea-Australia Free Trade Agreement (KAFTA) will enter into force on 12 December opening up new opportunities for Australian companies to do business with the nation’s fourth largest trading part ...
Media releases
Robb announces Korea FTA to take effect in 9 days (Ministerial)
3 Dec 2014
Trade and Investment Minister Andrew Robb has announced that Australia’s Free Trade Agreement with South Korea will enter into force on 12 December 2014.

Doing Business

Austrade’s business development specialists have prepared a range of market profiles that offer potential to assist in your exporting investigations. Austrade’s in-market teams have identified opportunities for Australian exporters in various industries (see profiled industries on the right side of this page).

More information on doing business in the Republic of Korea

Country Profile

Content supplied by Department of Foreign Affairs and Trade

  • ECONOMIC CLIMATE
    The Republic of Korea (ROK) has made remarkable economic progress in the last half-century. With a population of 50 million, the ROK ranked 35th in GDP per capita terms in 2012 while on a PPP basis, the ROK ranked 26th for GDP per capita.
    » read more at DFAT
  • TRADE RELATIONS
    The ROK is Australia's fourth-largest overall trading partner (total two-way trade was worth around A$30.5 billion in 2012-13, five per cent of all of Australia's international trade).
    » read more at DFAT
  • FREE TRADE AGREEMENTS
    The Korea-Australia Free Trade Agreement (KAFTA) is one of Australia’s most comprehensive trade agreements, delivering significant improvements in market access and tariff liberalisation for merchandise trade.
    » read more at DFAT

 

Australia's trade at a glanceAustralia's top ten trading partners

Korea-Australia Free Trade Agreement

Under the KAFTA, Korea will eliminate tariffs on 84 per cent of goods imported (by value) from Australia, rising to 99.8 per cent on full implementation of the Agreement.

More information on KAFTA

icon Business Risk

OECD Guidelines for Multinational Enterprises

Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the AusNCP website.

APEC Business Travel Card Scheme

Managed by the Department of Immigration, the APEC Business Travel Card Scheme was developed to make travelling within the 21 APEC member countries much simpler and more efficient.

Bilateral agreements

Australia has social security agreements with several countries that address the issue of 'double super coverage' for employees sent to work overseas. To take advantage of these agreements, Australian employers sending employees overseas to work must apply to the Tax Office for a Certificate of coverage.

For more details, please visit the Australian Taxation Office website.

IP Passport fact sheets

These fact sheets outline foreign Intellectual Property (IP) regimes and some of the issues and challenges which may be faced by Australian exporters.

The current fact sheets are available on the IP Australia website.

  • International Readiness Indicator

    checklist

    Austrade's International Readiness Indicator is an online tool to help Australian businesses determine whether they are ready for exporting.

    International Readiness Indicator

  • How Austrade can help

    Austrade provides information and advice to assist Australian companies reduce the time, cost and risk associated with exporting.

    Assistance from Austrade

  • Contact Austrade

Site Information

Austrade makes no warranty, express or implied as to the fitness for a particular purpose, or assumes any legal liability for the accuracy or usefulness of any information contained in this document. Any consequential loss or damage suffered as a result of reliance on this information is the sole responsibility of the user.