October 2011
Korea, Republic of
                         
BASIC INDICATORS
Population (thousands, 2010)  48 875 Rank in world trade, 2010 Exports Imports
GDP (million current US$, 2010) 1 014 483 Merchandise  7 10
GDP (million current PPP US$, 2010) 1 417 549 excluding intra-EU trade 5 6
Current account balance (million US$, 2010)  28 214 Commercial services 15 12
Trade per capita (US$, 2008-2010)  20 110 excluding intra-EU trade 8 7
Trade to GDP ratio (2008-2010)   105.8
Annual percentage change
2010   2005-2010 2009 2010
Real GDP (2005=100)   120 4 0 6
Exports of goods and services (volume, 2005=100)  a   133 7 -1 ...
Imports of goods and services (volume, 2005=100)  a   119 4 -8 ...
                         
TRADE POLICY
WTO accession 1 January 1995 Contribution to WTO budget (%, 2011) 2.685
Trade Policy Review 8, 10 October 2008 Import duties collected (%, 2007-2009)
GPA accession  1 January 1997 in total tax revenue 4.0
Tariffs and duty free imports to total imports 1.7
Tariff binding coverage (%)    94.6 Number of notifications to WTO and measures in force 
MFN tariffs Final bound Applied 2010 Outstanding notifications in WTO Central Registry   18
Simple average of import duties Goods RTAs - services EIAs notified to WTO 10 - 7
All goods   16.6   12.1 Anti-dumping (30 June 2010) 37
Agricultural goods (AOA)   55.9   48.5 Countervailing duties (30 June 2010) ...
Non-agricultural goods   10.2   6.6 Safeguards (22 October 2010)   0
Non ad-valorem duties (% total tariff lines)   0.7   0.4 Number of disputes (complainant - defendant) 
MFN duty free imports (%, 2009) Requests for consultation 15 - 14
in agricultural goods (AOA)   9.3 Original panel / Appellate Body (AB) reports 10 - 8
in non-agricultural goods   39.1 Compliance panel / AB reports (Article 21.5 DSU) 0 - 1
Services sectors with GATS commitments   98 Arbitration awards (Article 22.6 DSU) 0 - 1
                         
MERCHANDISE TRADE  Value Annual percentage change
2010   2005-2010 2009 2010
Merchandise exports, f.o.b. (million US$)  466 384 10 -14 28
Merchandise imports, c.i.f. (million US$)  425 212 10 -26 32
2010  b 2010  b
Share in world total exports    3.06 Share in world total imports  2.76
Breakdown in economy's total exports Breakdown in economy's total imports
  By main commodity group (ITS)   By main commodity group (ITS)
Agricultural products   2.0 Agricultural products 6.3
Fuels and mining products   9.1 Fuels and mining products 36.9
Manufactures   88.2 Manufactures 56.4
  By main destination   By main origin
1. China   23.8 1. China   16.8
2. European Union (27)   12.8 2. Japan   15.3
3. United States   10.4 3. European Union (27)   10.0
4. Japan   6.0 4. United States   9.0
5. Hong Kong, China   5.4 5. Saudi Arabia, Kingdom of   6.1
                         
COMMERCIAL SERVICES TRADE  Value Annual percentage change
2010   2005-2010   2009 2010
Commercial services exports (million US$)  81 570   11 -19 13
Commercial services imports (million US$)  92 978   10 -17 17
2010   2010
Share in world total exports   2.21   Share in world total imports 2.65
Breakdown in economy's total exports Breakdown in economy's total imports
  By principal services item   By principal services item
Transportation   46.6   Transportation 31.0
Travel   12.0   Travel 19.0
Other commercial services   41.4   Other commercial services 50.0
                         
INDUSTRIAL PROPERTY 
Patent grants by patent office, 2009 Trademark registrations by office, 2009
Residents Non-residents  Total  Direct residents Direct non-residents Madrid  Total 
 42 129  14 603  56 732  38 538  6 578  5 337  50 453
                         
a  Refers to 2009 and to the average annual percentage change for 2005-2009.
b  Breakdowns by destination/origin refer to 2009.