South Korea is Western Australia’s 3rd largest merchandise export market. Western Australia exported A$8.6 billion of merchandise to South Korea in 2018, with the top exports being iron ore, petroleum, precious metal ores (excluding gold and silver), wheat and base metal ores. South Korea is Western Australia’s largest export market for precious metal ores.
South Korea is Western Australia’s 13th largest source of merchandise imports. Western Australia imported A$643 million of merchandise from South Korea in 2018, with the top imports being motor vehicles, refined petroleum oil, and electrical machinery and apparatus.
South Korea is Australia’s 19th largest source of foreign direct investment (A$5.2 billion in 2018), while South Korea is the 19th largest destination for Australia’s direct investment abroad (A$1.2 billion in 2018).
Western Australia had over 15,000 visitors and over 1,500 students from South Korea in 2018, while 4,200 Western Australian tourists visited South Korea in 2017-18.
Korean people reside in Western Australia. 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.