South Korea Exports to India: India and South Korea’s Vibrant Bilateral Trade 2025

India and South Korea’s Vibrant Bilateral Trade

South Korea and India have formed a strong partnership in trade in recent decades. India has emerged as a leading buyer of these goods, with South Korea’s cars, electronics and Steel leading exporters. In 2024, bilateral South Korea exports to India trade between the two countries crossed $ 27 billion, with South Korea’s exports, made an important part.

In the dynamic world of international trade, South Korea stands as a prominent player, ranking seventh in global exports and tenth in imports according to the World Trade Organization in 2022. In this newsletter, we’ll delve into the fascinating trade scenario between South Korea and India, exploring their key trading partners, exported and imported products, and the requirements for exporting goods from South Korea to India.

Overview of South Korea–India Trade Relations

Trade started in the past due 20th century, progressively growing after globalization within the Nineteen Nineties.

The Comprehensive Economic Partnership Agreement (CEPA) signed in 2010 gave a huge push, reducing price lists and simplifying alternate.

South Korea is a number of the top 10 change partners of India, particularly in generation-driven sectors.

Both countries aim to attain $50 billion bilateral change by 2030.

South Korea’s Trade Landscape

South Korea boasts a diverse range of exports, with electrical and electronic equipment dominating, accounting for 31% of total exports in 2021. Additionally, machinery, nuclear reactors, and vehicles are major contributors. In 2022, trade represented nearly 80% of South Korea’s GDP, emphasizing its heavy reliance on international commerce.

Top Exports:

• Electrical and electronic equipment (31%)
• Machinery, nuclear reactors, boilers (12%)
• Vehicles (10%)
• Plastics (6.7%)
• Mineral fuels, oils (6.2%)
• Iron and steel (4.3%)

South Korea’s key imports include electrical and electronic equipment, mineral fuels, machinery, and optical and medical apparatus. This robust trade presence makes South Korea highly susceptible to external influences, with China as its primary trade partner, accounting for 26% of total exports in 2022.

Top Imports:

• Electrical and electronic equipment (19%)
• Mineral fuels, oils (22%)
• Machinery, nuclear reactors (11%)
• Optical, medical apparatus (3.7%)
• Vehicles (3.3%)
• Iron ores, slag, and ash (4%)

South Korea’s trade diversification is underscored by free trade agreements with various countries, covering over 70% of the global economy.

Key Trade Partners for South Korea

United States:

Electronics and technology
Automobiles and automotive parts
Machinery and industrial equipment
Medical equipment and pharmaceuticals

China:

Electronics and technology
Petrochemicals and chemicals
Automobiles and automotive components
Steel and metal products

Japan:

Electronics and technology
Automobiles and automotive parts
Machinery and industrial equipment
Shipbuilding and maritime equipment

European Union:

Electronics and technology
Automobiles and automotive parts
Machinery and industrial equipment
Pharmaceuticals and medical equipment

Southeast Asia:

Electronics and technology products
Automobiles and automotive components
Textiles and apparel
Chemicals and petrochemicals

Middle East:

Petrochemicals and chemicals
Machinery and industrial equipment
Electronics and technology products
Automotive parts and vehicles

India:

Electronics and technology products
Petrochemicals and chemicals
Machinery and industrial equipment
Steel and metal products

Read More: TEC Certification in India

Bilateral Trade Between India and South Korea

Products Exported from South Korea to India:

Electrical and electronic equipment
Machinery and industrial equipment
Chemicals and petrochemicals
Automobiles and automotive components

Products Exported from India to South Korea:

• Pharmaceuticals
• Electronics and technology products
• Textiles and apparel
• Steel and metal products
• Exporting Goods from South Korea to India

Exporting goods from South Korea to India involves complying with several regulations and standards. Here are some key aspects:

Korean Agency for Technology and Standards (KATS): KATS is responsible for developing and implementing product standards and regulations in South Korea, covering various industries and products.

KC Marking (Korea Certification): The KC mark signifies compliance with safety and quality standards, including electrical and electronic products, machinery, and gas appliances.

Product Certification and Safety Standards: In various sectors, such as pharmaceuticals, medical devices, cosmetics, and food products, stringent safety and quality standards are enforced by South Korean authorities.

Intellectual Property Rights (IPR): South Korea has robust intellectual property laws to protect trademarks, patents, copyrights, and industrial designs.

Import and Export Regulations

India also maintains several import and export regulations that South Korean businesses should be aware of:

• Restrictions on agricultural exports for domestic food security.
• Occasional restrictions on pharmaceutical and medical supply exports.
• Export controls on certain minerals and ores.
• Regulations concerning defense and strategic goods for national security.
• Restrictions on the export of cultural artifacts and antiques.
• Regulation of wildlife and endangered species product exports.
• Controls on the export of certain chemicals and hazardous materials due to safety and environmental concerns.
• In this dynamic trade landscape, the India-South Korea partnership offers tremendous opportunities for businesses. With an understanding of the trade dynamics and regulatory nuances, both countries can further strengthen their economic ties and boost bilateral trade. Stay tuned for more insights and updates on this fascinating trade relationship.

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Challenges in South Korea’s Export Market in India

• Competition from China and Japan in electronics and motors.
• Tariff barriers in spite of CEPA.
• Supply chain issues because of international disruptions.
• Need for localization to compete with Indian producers.

Future Outlook

• Trade between India and South Korea predicted to develop at 7–10% yearly.
• By 2030, bilateral change target is $50 billion.
• Green electricity, EV batteries, and semiconductors will dominate exports.
• Stronger collaborations in IT, AI, and protection technology are on the horizon.

Government initiative and trade agreement

• In 2019, the CEPA update reduced steel, petrochemicals and cars.
• The goal of the usual trade attendance is to solve customs disputes.
• Both nations search for CEPA 2.0 for deep integration.

Conclusion

The South Korea’s exports to India have performed a important function in India’s modernization—from motors and smartphones to metallic and petrochemicals. With both international locations aiming to boost trade, the destiny seems promising, specially in technology, EVs, and green power.

FAQs:

Q1. What is the top South Korean exports in India?
Cars, electronics, steel, petrochemistry and shipbuilding equipment.

Q2. How much does India from the South Korea import annually?
About $ 20-25 billion lasts.

Q3. Which South Korean companies are the most successful in India?
Hyundai, Kia, Samsung, LG, Posco and Lotte.

Q4. What is CEPA and how does it help to shop?
It is a trade agreement that reduces tariff rates and increases exports/imports.

Q5. What is the future approach to South Korea’s export to India?
Increase in EV -s, electronics, semiconductor and green technology sectors.