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Pakistan-South Korea Relations: Trade Links

Pakistan and South Korea have maintained diplomatic relations since the 1980s. Trade between the countries has increased to $1.1 billion annually in recent years. Both countries are working to further promote trade and investment. In 2003, Pakistan's president visited South Korea to strengthen bilateral ties. South Korea also maintains an embassy in Pakistan.

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38 views3 pages

Pakistan-South Korea Relations: Trade Links

Pakistan and South Korea have maintained diplomatic relations since the 1980s. Trade between the countries has increased to $1.1 billion annually in recent years. Both countries are working to further promote trade and investment. In 2003, Pakistan's president visited South Korea to strengthen bilateral ties. South Korea also maintains an embassy in Pakistan.

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PakistanSouth Korea relations

PakistanSouth Korea relations refers to bilateral diplomatic relationship


between Pakistan and South Korea. Since the 1980s, the relations between two Asian states have
been improved and periodically enhanced. Pakistan has an embassy in Seoul, South Korea, [1]and
South Korea has an embassy in Islamabad, Pakistan.[2] South Korea is also member of Friends of
Democratic Pakistan.

Trade links
Bilateral trade between the two countries is around US$1.1 billion.[3] Both sides have expressed
interest to further promote the trade and investment relationship between the two countries. KOTRA
(Korea Trade Centre) is playing vital role in enhancing the trade relation between Korea and
Pakistan

People traffic
In 2005 there were up to 7,000 Pakistanis living in South Korea

Bilateral visits

In November 2003, Pakistani President Pervez Musharraf paid a three-day official visit to Seoul,
South Korea.[6] In spite of Pakistan's friendly relationship with North Korea, Pakistan maintains a

strong base in South Korea, with more trade agreements with South Korea and friendly treaty signed
by both countries.
Overall Pakistan has supported a reunification of Korea.

South Koreas Top 10 Exports

South Koreas Top 10 Exports


The following export product groups represent the highest dollar value in South Korean global
shipments during 2014. Also shown is the percentage share each export category represents in terms
of overall exports from South Korea.
1.
Electronic equipment: $138,234,071,000 (24.1% of total exports)
2.
Vehicles excluding trains and streetcars: $73,343,530,000 (12.8%)
3.
Machinery: $63,051,130,000 (11.0%)
4.
Mineral fuels including oil: $52,670,787,000 (9.2%)
5.
Ships, boats and other floating structures: $38,339,918,000 (6.7%)
6.
Optical, technical and medical apparatus: $35,901,300,000 (6.3%)
7.
Plastics: $31,835,781,000 (5.6%)
8.
Organic chemicals: $24,398,046,000 (4.3%)
9.
Iron and steel: $23,958,185,000 (4.2%)
10. Iron or steel products: $12,658,965,000 (2.2%)
South Korea is a highly export-driven and industrialized economy. The above list reflects the strong
Korean focus on producing electronics, automobiles, machinery, petrochemicals, ships and robotics.
Among the top 10 exports, only ships, boats and other floating structures (down 18%) and optical,
technical and medical apparatus (down 5.1%) declined over the 5-year period ending in 2014. Iron or
steel products were up 64.7% followed by mineral fuels including oil up 61.7%.
South Koreas unemployment rate was 3.4% in 2014.

Major imports (commodities) of South Korea are:


-machinery
-electronics and electronic equipment
-oil
-steel
-transport equipment
-organic chemicals
-plastics

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