British Columbia and South Korea
South Korea is the fourth largest economy in Asia and is home to a well-established and competitive democracy. It is among the wealthiest economies in Asia and posses a major consumer base with strong purchasing power. B.C. and South Korea can support one another in various trade and investment activities. Through recent conversations surrounding South Korea’s involvement with the CPTPP as well as the Canada-Korea Free Trade Agreement, Canada and Korea have a solid economic foundation.
Trade & Investment Highlights
- Effective 2015, Canada and South Korea share the Canada-Korea Free Trade Agreement, facilitating trade activities between the two countries.
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership – In 2022, South Korea applied to join the CPTPP.
- South Korea possesses a well-developed retail sector, prioritizing digital innovation in the sector.
South Korea at a Glance
Monetary figures are in USD
Opportunity for Foreign Investors and B.C. Exporters
Agrifood & Agritech
South Korea is a net importer of agrifood and seafood products, with high per-capita food consumption and high incomes. There are agritech opportunities for B.C. companies in South Korea in increasing sustainability, profitability and efficiency in the farming industry while satisfying consumer demand for convenient and high-quality foods.
Cleantech
South Korea has plans to transition to a low-carbon economy with a focus on renewable energy and green infrastructure. There are several opportunities for B.C. cleantech companies including battery and energy storage, carbon capture, utilization and storage and low carbon hydrogen and mobility.
ICT
South Korea is one of the leading global information and communication technology centres. Opportunities exist in cloud and big data, on-device AI, AI chip, monetization of AI and explainable AI.
Industrial Marine
Being a world leader in shipbuilding, South Korea provides many trade and investment opportunities for British Columbia. With green transition being a key priority to South Korea, B.C. marine companies can support with developing net zero carbon technologies, ICT/AI solutions and R&D partnerships.
Life Sciences
Due to an increase in chronic illness and a rapidly ageing population, South Korea faces a rise in medical expenses. B.C.’s life sciences sector can support South Korea to meet the demand in digital health technologies, conducting clinical trials and innovative medical devices.
South Korea Top Industries (2017-2021)
Trade & Investment Resources
For B.C. Businesses
For International Businesses
News and Stories
How We Help
- Assist in commercial location identification and site selection.
- Provide information on transportation infrastructure and logistics gateways.
- Offer introductions to sector associations, industries and provide cluster insight.
- Facilitate understanding and solutions for talent, skilled workforce and labour mobility
- Facilitate engagement with professional advisors on legal, compliance and tax matters
- Help navigating and offering referrals within government agencies on First Nations, business and regulatory processes.
- Identify high potential investment opportunities and offer industry insight.
- Introductions to sector associations and local industry contacts.
- Introductions to companies seeking investments to expand.
- Provide knowledge on local innovation hubs and connections to entrepreneurial opportunities.
- Introductions to local venture capital networks.
- Assist in navigating government export programs and financial supports.
- Advice and coaching in international expansion and exporter development.
- Support Team BC missions and trade events.
- Match buyers and sellers in local and foreign markets.
- Provide insight on trade agreements and barriers.
- Introductions to trade representatives in foreign markets.
- Market entry assistance in international markets.
Trade & Investment Offices in South Korea
Seoul
With the Canada-Korea Free Trade Agreement (CKFTA), British Columbia and Korea enjoy strong bilateral relationships and extensive business connections, particularly trade in goods such as coal, copper, unwrought aluminum, and wood products including wood pulp. South Korea’s technology-intensive economy presents opportunities for trade and partnership in additional key sectors.
Our Trade and Investment representatives actively assist Korean and British Columbia businesses to explore shared opportunities in transportation, digital media, information and communication technologies, clean technologies, renewable energy, marine technology, life sciences, and education.
Seoul Office:
Embassy of Canada to Korea
21 Jeongdong-gil, Jung-gu, 04518
Seoul, South Korea
Contact our Trade and Investment Representatives. Our team welcomes your inquiries:
Senior Manager, Korea
Managing Director, Korea
Commercial Officer
Commercial Assistant
Connect With Our International Network
Our Trade and Investment Representatives can help you establish the right connections, participate in events and tradeshows, explore programs and initiatives, and more.
Connect With Our International Network
Our Trade and Investment Representatives can help you establish the right connections, participate in events and tradeshows, explore programs and initiatives, and more.