South Korea is Western Australia’s third largest merchandise export market. Western Australia exported A$9.3 billion of goods to South Korea in 2018-19, with the top exports being iron ore, petroleum, wheat, precious metal ore (excluding gold and silver) and copper ore.
South Korea is Western Australia’s thirteenth largest source of merchandise imports. Western Australia imported A$611 million of goods from South Korea in 2018-19, with the top imports being motor vehicles, electrical machinery and apparatus, and fertilisers.
South Korea is Australia’s nineteenth largest source of foreign direct investment (A$5.2 billion in 2018), while South Korea is the nineteenth largest destination for Australia’s direct investment abroad (A$1.2 billion in 2018).
From South Korea, Western Australia had 15,000 visitors in 2018-19 and 1,600 students in 2018. For Western Australian tourists, South Korea is the twenty-sixth most popular overseas destination, with 6,000 Western Australians visiting South Korea in 2018.
Western Australia has a growing Korean community. In 2016, 8,000 Western Australian residents had Korean ancestry and 7,000 were born in South Korea.
The Department of Jobs, Tourism, Science and Innovation supports Western Australia’s investment and trade with South Korea through its Seoul Office, which was established in 2004.