About South Korea

Known for conglomerates such as Samsung and Hyundai, the country’s incredible progress during the last four decades has placed it among the top ranking high-tech industrialized nations.


Economic situation

Founded on Confucian virtues of education, discipline and hard work, and through close ties between state and industry, South Korea has managed to maintain consistently high economic growth rates. In only a few decades, South Korea has undergone a transformation from being one of the poorest countries in the world to being the 4th largest economy in Asia and the 12th largest in the world according.


Trade relations between Denmark and Korea

In 2018, Denmark exported goods and services to South Korea worth DKK 10 billion.

The EU-Korea free trade agreement, signed in 2011, has led to continued growth in Danish exports to South Korea. In 2018, South Korea was the 22nd largest Danish export market. Danish companies have the skills and solutions that are in high demand in South Korea. The potential for further commercial cooperation remains high.

Due to intensive collaboration between the Danish and South Korean government, institutions and businesses, Denmark is well-known in South Korea for providing high quality products and solutions.


Political situation

In May 2017, the South Korean people elected centre-left candidate Moon Jae-in from the Democratic Party as president.

Domestically, President Moon Jae-in’s political platform is focused on addressing some of the structural challenges in the South Korean society. These include promoting good governance and a constitutional reform, addressing rising inequality, youth unemployment, creating more jobs and fostering income-led growth.

In foreign policy, increasing security and stability on the Korean Peninsula and improving ties to North Korea are highest on President Moon’s political agenda.


South Korea at a glance