What Are The Top Products Imported From Korea?

  • Date Published: December 3, 2022
  • Date Updated: December 3, 2022

 

 

South Korea is not just about Hallyu Wave, Kdrama, Cosmetics, etc. Its global impact extends to different industries like electronics, shipbuilding, petrochemical and many more! According to data from the Trade Ministry, South Korea exports for 2021 was $750.40B, a 25.71% increase from previous year. Now, let us take a look at the top exported products from South Korea and see what business opportunities lie within this Asia’s fourth largest economy! 


 

  1. Semiconductors

Leading memory chip makers, like Samsung Electronics and SK Hynix, are based in South Korea. In fact, the Korean economy is mostly driven by the semiconductor industry; this sector contributed 5.9% of GDP in 2018. Microchips are usually used for data storage or data processing. Furthermore, this pandemic has resulted in shortage of auto chips. So South Korea's economy has greatly benefited by its capacity to generate this kind of technology, especially this pandemic.


 

  1. Cars & Car parts

With hybrid vehicles on the rise and South Korea at the forefront of the industry, major brands like KIA and Hyundai were among the most exported hybrid vehicles worldwide. As a result, the amount of exports increased in both volume and value for the first time in nine years, jumping 8.6% to 2.05 million units.

 

The export of automotive components also increased 22.2 percent to $22.78 billion as a result of the strong global vehicle sales!

 

Its second hand or used car sales is also a good business opportunity to start here in the Philippines, largely contributing to South Korea’s good craftsmanship and fair price! 




 

  1. Marine vessels & Ship parts

 

One of the top nations for shipbuilding is Korea. In order to become more competitive internationally, Korean shipbuilders have already developed technology with an emphasis on high added values. The top ten shipbuilders in the world include six Korean companies. Samsung, Daewoo, and Hyundai are the top three players globally. In recent years, the major Korean shipbuilders have concentrated heavily on value-added ships such as LNG (Liquid Natural Gas) carriers, ultra-large container ships, and drilling ships. Today, Korea is the world's top country for LNG construction.


 

In conclusion, there are various products you can import from South Korea too! South Korea goods are of good quality and offered at a fair price. Being Asia’s fourth largest economy, South Korea, offers a diverse set of products across different industries. Import South Korea goods with ease with EZ Sourcing Group PH. We offer all in shipping services, wherein we take care of paperworks, customs clearance, paying for taxes & duties, all you have to do as a business owner is to work on your business, we will take care of all your international shipping needs. 

Inquire now, contact us here to know more about how we can help you! Register your shipping account here.

 

 

 

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