• KOREA 27 Jan 2021 12:50
  • INDIA 27 Jan 2021 09:20

Economic Relations between Korea and India (as of Feb 2020)

Korea-India Trade:

In 2019 the bilateral trade volume reached 20.6 billion dollar which was slightly declined by 4.2%. Korea’s main exports to India are automobile parts, telecommunication equipment, hot rolled iron products, petroleum refined products, base lubricating oils, nuclear reactors, mechanical appliances, electrical machinery & parts and iron & steel products.

[Korea-India Bilateral Trade 2013-2019]

(Amount in US$ 100millions, %)

Year2013 2014 2015 2016 2017 2018 2019 
growth%growthgrowthgrowthgrowth growth growth
Total176-6.41812.8162-10.5158-2.5200272157.5206-4.2
Export114-4.612812.4120-5.9116-3.615129.81563.7151-3.2
Import62-10.753-14.742-19.642-1.24918.15918.956-5.1
Balance52 75 78 74 102 98 95 

Source: Korea International Trade Association (as of Jan, 2020)

Korea-India Investment:

Investment between the two counties is robust and has significantly increased as both the government and private sector have been propelling cooperation. The Korean FDI to India (up to 2019 Sep) stood at $6.29 billion, of which $340 million accounts for 2019. 

[Korea’s FDI to India 2011-2019]

(Amount in US$ Millions)

Year201120122013201420152016201720182019Total(since 1980)
No. of Registration2052121901602642683084083223,780
No. of New Companies665241395556112118991,194
Investment4563193473373653365161,0533406,294

 Source: Korea EXIM Bank, (As of Sep. 2019)