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Korea Desk
KPMG's New & Emerging Markets practice has a dedicated Korea Desk to assist UK companies investing
in Korea, and to support Korean companies investing in the UK.See below for a Country Profile, Economic Data, and Useful Links.
Country Profile
| Name: |
Republic of Korea / Daehan Minguk |
| Position: |
Southern part of Korean Peninsula; borderline to People’s Republic of Korea (DPRK) on 38th parallel. |
| Area: |
99,600 km2 |
| Capital: |
Seoul |
| Population: |
48.3 M inhabitants |
| Languages: |
Korean, English |
| Form of State and government: |
Republic with a presidential constitution, and only limited self-administration for local authorities |
| Head of State: |
President Roh Moo-hyun (since 25.02.2003) |
| Head of government: |
Premier Han Myeong-Sook (since 20.04.06) |
| Membership in international organisations: |
UN 1991, World Bank 1955, IMF 1955, Asian Development Bank 1966, WTO 1995, OECD 1996 |
Economic Data 2005
|
Currency |
Won (KRW) |
| Currency – Exchange rate |
1 Euro = approx. 1.200 Won |
| GDP (real) |
787.6 billions USD |
| GDP/ resident |
16,308 USD |
| Economic growth |
4.0 % |
| Inflation rate |
2.7 % |
| Unemployment |
3.7 % |
External trade:
Exports
Imports
Balance |
284.4 billions USD
261.2 billions USD
+ 23.2 billions USD |
Important import goods
(share in %) |
Fossil fuels, etc. 25.8%; miscellaneous raw materials 5.9%; chemical manufactures 9.4%; electronic components 9.1%; machinery (except business machinery) 8.8%; electro technology 5.8%; iron/steel 5.8%; measurement & control technology 3.0%; business machines/EDV 2.7%; communications engineering/radio/tv 2.6%; miscellaneous 21.1% |
Main export countries
(share in %) |
communications engineering/radio/tv 13.3%; road vehicles 13.1%; chemical manufactures 9.8%; electronic devices 9.7%; machinery (except business machinery) 7.1%; business machinery / EDV 6.2%; water vehicles 6.1%; electro technology 5.4%; iron/steel 5.0%; textiles 3.7%; miscellaneous 20.6% |
Main import countries
(share in %) |
Japan 18.5 %; China 14.8 %; USA 11.7%; Saudi-Arabia 6.2%; VAE 3.8%; Australia 3.8%; Germany 3.7% |
| FDI (Flow-in until 2005) |
104.9 billions USD |
Status: November 2006
Sources:
German Foreign Office
German Office for Foreign Trade
Useful Links
KPMG Korea
Bank of Korea
British Chamber of Commerce and Industry in Korea
European Union Chamber of Commerce in Korea
Federation of Korean Industries
Korea International Trade Association (KITA)
Ministry of Commerce, Industry and Energy (MOCIE)
Ministry of Finance and Economy (MOF)
Ministry of Foreign Affairs and Trade
National Statistical Office (NSO)
For
further information about our services,
or if you would like one of our professionals
to contact you, please  . |
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