Products Imported from China to South Korea

In the calendar year of 2023, China exported goods worth US$150 billion to South Korea. Among the main exports from China to South Korea were Integrated Circuits (US$23.3 billion), Broadcasting Equipment (US$5.92 billion), Electric Batteries (US$5.52 billion), Computers (US$4.76 billion) and Office Machine Parts (US$3.38 billion). Over the span of 28 years, China’s exports to South Korea have grown steadily at an annualized rate of 11.8%, rising from US$7.38 billion in 1995 to US$150 billion in 2023.

List of All Products That Were Imported from China to South Korea

The table below presents a comprehensive list of all commodities that were exported from China to South Korea in 2023, categorized by product types, and ranked by their trade values in US dollars.

Tips to use this table

1. Identifying High-Demand Products: Analyze the top-ranked products to identify which items have the highest trade values. These products are likely to be in high demand in the South Korea market, presenting lucrative opportunities for importers and resellers.
2. Niche Market Exploration: Explore products with significant trade values that may not be commonly known. These niche products could represent untapped market segments with less competition, allowing resellers and importers to carve out a unique position in the market.

Last Updated: April, 2024

Note #1: The HS4 code, or Harmonized System 4-digit code, is part of the Harmonized Commodity Description and Coding System (HS). It’s an internationally standardized system for classifying goods in international trade.

Note #2: This table is regularly updated on an annual basis. Therefore, we encourage you to revisit frequently to access the latest information regarding trade between China and South Korea.

Trade Agreements between China and South Korea

China and South Korea have established a comprehensive and multifaceted trade relationship, which is anchored by a significant bilateral free trade agreement. This partnership not only enhances economic ties but also facilitates cultural and technological exchanges between the two nations. Here’s an overview of the key trade agreements and cooperative frameworks that define the economic relations between China and South Korea:

1. China-South Korea Free Trade Agreement (FTA) – 2015

The cornerstone of the China-South Korea economic relationship is their Free Trade Agreement, which was officially signed in 2015 and implemented thereafter. This agreement is comprehensive, covering trade in goods, trade in services, and investment. The FTA has significantly reduced tariffs on thousands of goods and opened up services markets in both countries to each other’s investors.

• Trade in Goods: The agreement stipulates the gradual elimination of tariffs on over 90% of goods traded between the two countries, which includes major South Korean exports such as electronics, automobiles, and machinery, as well as key Chinese exports such as textiles, metals, and agricultural products.
• Trade in Services and Investment: The FTA also includes liberalization of trade in services, including sectors such as finance, telecommunications, and transportation, and enhances protections for investments between the two nations.

2. Bilateral Investment Treaty (BIT) – 2007

Prior to the FTA, China and South Korea signed a Bilateral Investment Treaty (BIT) in 2007, which was aimed at creating favorable conditions for investments by nationals and companies of each country in the other’s territory. This treaty provides legal protection for investors, including the assurance of fair treatment, protection from expropriation, and a mechanism for the resolution of disputes between investors and the state.

3. Economic Cooperation Agreements

Apart from the FTA and BIT, China and South Korea have signed various other economic cooperation agreements that facilitate technology exchange, cooperation in research and development, and joint projects in sectors such as renewable energy, biotechnology, and advanced manufacturing. These agreements often include provisions for joint investments in science parks and innovation hubs.

4. Cultural and Educational Exchanges

Cultural and educational exchange agreements have also been a part of the broader relationship, enhancing people-to-people ties and facilitating mutual understanding. These programs include academic scholarships, language exchange initiatives, and collaborative cultural festivals that showcase each country’s heritage and contemporary culture.