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    Republic of Korea: General Information

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    Justice Williams
    1. The Republic of Korea, also known as South Korea, has a population of 51.2 million and its capital and largest city is Seoul. Its currency is the Won. 2. Australia's trade relationship with South Korea involves $29.1 billion in total merchandise trade in 2016. Major Australian exports to South Korea include coal, iron ore, and beef. Major imports from South Korea include refined petroleum and passenger vehicles. 3. Australia exported $2.1 billion in services to South Korea in 2016, including education and travel. Australian investment in South Korea was $17.4 billion in 2016 while South Korean investment in Australia was $23.6 billion.

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    Republic of Korea: General Information

    Uploaded by

    Justice Williams
    30 views1 page
    1. The Republic of Korea, also known as South Korea, has a population of 51.2 million and its capital and largest city is Seoul. Its currency is the Won. 2. Australia's trade relationship with South Korea involves $29.1 billion in total merchandise trade in 2016. Major Australian exports to South Korea include coal, iron ore, and beef. Major imports from South Korea include refined petroleum and passenger vehicles. 3. Australia exported $2.1 billion in services to South Korea in 2016, including education and travel. Australian investment in South Korea was $17.4 billion in 2016 while South Korean investment in Australia was $23.6 billion.

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    GOODS AND FREIGHT CHARGES

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    rkor

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    1. The Republic of Korea, also known as South Korea, has a population of 51.2 million and its capital and largest city is Seoul. Its currency is the Won. 2. Australia's trade relationship with South Korea involves $29.1 billion in total merchandise trade in 2016. Major Australian exports to South Korea include coal, iron ore, and beef. Major imports from South Korea include refined petroleum and passenger vehicles. 3. Australia exported $2.1 billion in services to South Korea in 2016, including education and travel. Australian investment in South Korea was $17.4 billion in 2016 while South Korean investment in Australia was $23.6 billion.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    30 views1 page

    Republic of Korea: General Information

    Uploaded by

    Justice Williams
    1. The Republic of Korea, also known as South Korea, has a population of 51.2 million and its capital and largest city is Seoul. Its currency is the Won. 2. Australia's trade relationship with South Korea involves $29.1 billion in total merchandise trade in 2016. Major Australian exports to South Korea include coal, iron ore, and beef. Major imports from South Korea include refined petroleum and passenger vehicles. 3. Australia exported $2.1 billion in services to South Korea in 2016, including education and travel. Australian investment in South Korea was $17.4 billion in 2016 while South Korean investment in Australia was $23.6 billion.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    REPUBLIC OF KOREA

    Fact sheets are updated biannually; June and December


    General information
    Capital: Seoul Head of State
    Land area: 97,350 sq km President HE Mr Moon Jae-in
    Official language(s): Korean Head of Government
    Population: 51.2 million (2016) Prime Minister HE Mr Lee Nak-yon
    Currency: Won

    Economic indicators (a) 2012 2013 2014 2015 2016 2017


    GDP (US$b) (current prices) 1,222.8 1,305.6 1,411.3 1,382.8 1,411.2 1,498.1
    GDP per capita (US$) 24,358.8 25,890.0 27,811.4 27,105.1 27,538.8 29,114.7
    GDP PPP (Int'l $b) 1,624.6 1,698.6 1,786.8 1,856.4 1,934.0 2,029.7
    GDP per capita PPP (Int'l $) 32,362.3 33,683.6 35,210.5 36,389.9 37,740.4 39,446.9
    Real GDP growth (% change yoy) 2.3 2.9 3.3 2.8 2.8 2.7
    Current account balance (US$b) 50.8 81.1 84.4 105.9 98.7 93.4
    Current account balance (% GDP) 4.2 6.2 6.0 7.7 7.0 6.2
    Inflation (% change yoy) 2.2 1.3 1.3 0.7 1.0 1.8
    Unemployment (% labour force) 3.2 3.1 3.5 3.6 3.7 3.8

    Australia's trade and investment relationship with Republic of Korea (b)


    Australian merchandise trade with Republic of Korea, 2016 (A$m) Total share Rank Growth (yoy)
    Exports to Republic of Korea 18,133 7.0% 3rd -0.7%
    Imports from Republic of Korea 10,955 4.1% 6th -27.8%
    Total merchandise trade (exports + imports) 29,088 5.5% 4th -13.0%

    Major Australian exports, 2016 (A$m) Major Australian imports, 2016 (A$m)
    Coal 4,715 Refined petroleum 3,884
    Iron ores & concentrates 3,285 Passenger motor vehicles 2,545
    Beef, f.c.f. 1,359 Heating & cooling equipment & parts 495
    Aluminium 1,009 Pumps (excl liquid pumps) & parts 244

    *Includes $2.3b of confidential items & special transactions, 13% of total exports.

    Australia's trade in services with Republic of Korea, 2016 (A$m) Total share Rank Growth (yoy)
    Exports of services to Republic of Korea 2,056 2.9% 9th 22.3%
    Imports of services from Republic of Korea 940 1.2% 20th -5.0%
    Major Australian services exports, 2016 (A$m) Major Australian services imports, 2016 (A$m)
    Personal travel excluding education 896 Transport 438
    Education-related travel 875 Charges for the use of Intellectual Property nie 178

    Australia's investment relationship with Republic of Korea, 2016 (A$m) Total FDI
    Australia's investment in Republic of Korea 17,403 815
    Republic of Korea's investment in Australia 23,585 3,601
    Republic of Korea's global merchandise trade relationships
    Republic of Korea's principal export destinations, 2016 Republic of Korea's principal import sources, 2016
    1 China 25.1% 1 China 21.4%
    2 United States 13.5% 2 Japan 11.7%
    3 Hong Kong 6.6% 3 United States 10.7%
    12 Australia 1.5% 7 Australia 3.7%

    Compiled by the Statistics Section, DFAT, using the latest data from the ABS, the IMF and various international sources
    (a) Economic indicators data is from the IMF WEO where available, WKH(,8RURWKHUUHSXWDEOHVRXUFH'DWDPD\LQFOXGHIRUHFDVWVRUSURMHFWLRQVIRUUHFHQW\HDUV*1,PD\EHVKRZQLQOLHXRI*'3IRUFRXQWULHVZKHUH*'3GDWDLVXQDYDLODEOH
    E 0HUFKDQGLVHWUDGHGDWDLVEDVHGRQSXEOLVKHGDQGXQSXEOLVKHG$%6GDWD0D\H[FOXGHFRQILGHQWLDOLWHPVRIWUDGH7RWDOVPD\QRWDGGXSGXHWRURXQGLQJ,QYHVWPHQWGDWDLVVWRFNVDVDWHQG'HFHPEHU
    All data may be subject to future revisions.
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