Market guides for UK exporters
South Korea market
South Korea is currently the 13th largest economy in the world with a GDP of US$1.72 trillion (IMF estimates, 2024) and has been one of 10 fastest growing markets for UK exports of goods and services. In the four quarters to the end of Q3 2023, UK exports to South Korea amounted to £8.7 billion.
Demand for UK goods
The South Korean public has a taste for British culture and a respect for UK goods. Many well-known UK brands like Jaguar, Land Rover, Standard Chartered, Lush and Burberry are already selling in South Korea.
Market intelligence reports
DBT Seoul provide detailed market intelligence reports on the diverse sectors in Korea. You can access these reports by sending us a request. Summary reports are available by sector below.
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Gather insights on export opportunities in South Korea by requesting our detailed reports.
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e-Commerce
Korea boasts the world’s fifth largest e-commerce market only just behind China and Japan in the APAC region. Korea’s advanced internet infrastructure plays a key role in facilitating the growth of e-commerce.
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Connected and Autonomous Vehicles
South Korea’s public and private sector is investing heavily in innovative connected and autonomous vehicle (CAV) technologies.
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Hydrogen economy
South Korea’s hydrogen market is rapidly growing due to strong government policy support and investments from major companies.
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Artificial Intelligence
South Korea has set its sights on becoming one of the top three countries in the world for digital competitiveness by 2030 with AI being a key component to this growth.
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Data analytics
Data is increasingly used in large conglomerates and sectors such as finance and telecom but currently less so among small to medium enterprises (SMEs). The Korean government is encouraging SMEs to establish internal big data divisions.
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Digital health
With a rapidly growing market, Korea offers opportunities for UK digital health companies due to investment and support from medical institutions, conglomerates, start-ups and the government.
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Fintech
Heavy investment is being seen in Korea from the country’s major technology leaders, banks and financial institutions, as well as a growing number of start-ups.
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Information security
Opportunities exist to support government initiatives against cyber hacking as financial institutions seek increasingly secure internet transactions and cloud services.
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Internet of Things
Korea's IoT market is characterised by a mature telecommunications infrastructure and advanced network coverage.
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Smart cities
Smart cities are a strategic component of the Korean government's national policy for the fourth industrial revolution.
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Space
South Korea is making major investments in its space industry with the goal of becoming a leading global power in the arena.
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Marine Industry 4.0
Korean shipyards are actively promoting changes in the fields of decarbonisation, unmanned ships and smart yards to lead changes in the global paradigm.
Read the summarySupport with exporting to South Korea
We can help you find export opportunities in South Korea and offer guidance on the different market sectors suitable for UK goods and services. By creating an account, you will be able to access the Export Academy, our free training programme that gives you the knowledge and confidence to start exporting.
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