Home » About British Columbia » South Korea

British Columbia and South Korea

South Korea is Asia’s fourth largest economy in Asia and is home to a well-established and competitive democracy. It is among the wealthiest economies in Asia and possesses a major consumer base with strong purchasing power.

Trade & Investment Highlights

Canada and South Korea share the Canada-Korea Free Trade Agreement which came into force in 2015 and has since facilitated trade activities between the two countries.
In 2022, South Korea applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Korea’s Gyeonggi Province and B.C. have been sister province since 2008. During Premier Eby’s trade mission to Asia in 2023, B.C. and Gyeonggi Province signed an enhanced action plan agreement to strengthen co-operation on cleantech and clean energy to address climate change.
Through Canada’s Indo-Pacific Strategy, Canada will work with South Korea in support of resilient supply chains, the supply of critical minerals and high labour conditions and environmental protections, including the transition to clean energy.

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 and Hydrogen

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 EV battery production, carbon capture, utilization and storage, waste management, water and wastewater technologies, recycling, and environmental technologies.

Digital Entertainment and Interactive Media

Opportunities exist for B.C. companies in PC and console games, VFX, animation and film. In games, local brands have focussed on role playing games, a potential opportunity for B.C. companies are in strategy and casual games. The CKFTA ensures tariff free treatment for on goods transmitted electronically, contains a digital/electronic commerce chapter, provisions for electronic authentication and electronic signatures, consumer protections for digital providers and intellectual property protections in the digital environment.

Forestry

Interest in more energy-efficient buildings is increasing in South Korea and is a major component of the government’s carbon neutral strategy. The South Korean government’s focus on green policies, including sustainable housing presents opportunities for B.C. wood as a green building material that is safe, modern, and cost effective.

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

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.

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.

Critical Minerals

B.C. is Canada’s largest producer of copper and only producer of molybdenum. These and other critical minerals are integral components of emerging technologies, such as electric cars, wind turbines and solar power which are of key interest to Korean manufacturers.

South Korea Top Industries (2018-2023)

Industries for Outward Investment

Investment Opportunities in Canada: Electronic Components

Investment Opportunities in Canada: Semiconductors

Investment Opportunities in Canada: Coal, Oil & Gas

_{Source: FDI Markets}

Import Industries
(by value)

Investment Opportunities in Canada: Mineral Fuels & Oils

Investment Opportunities in Canada - Electrical Machinery Equipment

Investment Opportunities in Canada: Machinery

_{Source: International Trade Centre}

Fastest Growing Import Opportunities

Investment Opportunities in Canada: Pearls, Precious Stones & Metals

Investment Opportunities in Canada: Mineral Ores, Slag & Ash

Investment Opportunities in Canada: Inorganic Chemicals

_{Source: International Trade Centre}

BC Export Industries to Market

Investment Opportunities in Canada: Wood Products

_{Source: BC Stats, data sourced from Statistics Canada}

Trade & Investment Resources

For B.C. Businesses

For International Businesses

Latest News And Stories

B.C. Cherries and Blueberries are a Hit in South Korea

B.C.’s agrifood sector continues to attract international investors, driven by its commitment to sustainable practices, innovation and…

Geoynggi Province flag in front of the Legislative Assembly building.

Gyeonggi Governor’s Visit Spurs New Trade and Investment Opportunities in B.C.

This visit underscored both regions’ commitment to strengthen international trade and commitment towards energy, clean technology and…

Free Trade Agreement event with Export Navigator and Jobs Economic Development and Innovation

B.C. Workshops Boost Trade and Export Growth

The Ministry of Jobs, Economic Development and Innovation (JEDI) is hosting a series of workshops aimed at promoting trade opportunities.

View All News

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

South Korea
- Seoul

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:

Derrick Kim
Managing Director, Korea

Trade & Investment Representative - Jungyoon Hong

Jungyoon Hong
Senior Commercial Officer

Yuna Hong
Commercial Officer

Jiyoon Lee
Commercial Officer

Trade & Investment Representative - Gil Lew

Gil Hwan Lew
Commercial Officer

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 an expert near you.

Connect