South Korea has been one of Western Australia’s top five export markets for two decades.
In 2017-18, South Korea was Western Australia’s fourth largest export market, with iron ore accounting for 49 per cent of the State’s exports to South Korea, followed by petroleum (32 per cent).
South Korea was Western Australia’s largest import market in 2017-18. The main import category from South Korea was ships, boats and floating structures, mainly due to the arrival of the Prelude floating LNG facility. Motor vehicles were another major import item.
South Korea and Western Australia are strengthening economic linkages, through trade, to support the expansion of the LNG industry in Western Australia. South Korean companies are providing engineering and construction services to major LNG developments in the State, including the Prelude floating LNG project.
The Department of Jobs, Tourism, Science and Innovation (JTSI) supports Western Australia’s Trade Office in Seoul.