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.
Monetary figures are in USD
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.
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.
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.
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.
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.
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:
Our Trade and Investment Representatives can help you establish the right connections, participate in events and tradeshows, explore programs and initiatives, and more.
Our Trade and Investment Representatives can help you establish the right connections, participate in events and tradeshows, explore programs and initiatives, and more.