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Trade and Industry Department The Government of the Hong Kong Special Administrative Region
Brand Hong Kong - Asia world city

HONG KONG - KOREA TRADE RELATIONS

KOREA AND HONG KONG ARE IMPORTANT TRADING PARTNERS

  • In 2020, Korea was Hong Kong's 6th largest trading partner. Hong Kong was Korea's 6th largest trading partner in 2020.
  • Total merchandise trade between Hong Kong and Korea amounted to HK$299,431 million in 2020, increased by 8.2% from 2019. The average annual growth rate from 2016 to 2020 was 4.6%.
  • In 2020, Hong Kong's domestic export of goods to Korea amounted to HK$1,355 million. Major domestic exports to Korea included office machines and automatic data processing machines; metalliferous ores and metal scrap; and jewellery, goldsmiths' and silversmiths' wares, and other articles of precious or semi-precious materials.
  • Hong Kong's re-export of goods to Korea totalled HK$50,905 million. Major re-exports were electrical machinery, apparatus and appliances, and electrical parts thereof; office machines and automatic data processing machines; and telecommunications and sound recording and reproducing apparatus and equipment.
  • In 2020, Hong Kong imported HK$247,170 million worth of goods from Korea. Major imports included electrical machinery, apparatus and appliances, and electrical parts thereof; essential oils and resinoids and perfume materials; toilet, polishing and cleansing preparations; and office machines and automatic data processing machines.

HONG KONG IS AN IMPORTANT ENTREPOT FOR MAINLAND-KOREA TRADE

  • Hong Kong is an important entrepĂ´t for merchandise trade between Korea and the Mainland of China. Re-export trade between the two economies through Hong Kong amounted to HK$ 251.5 billion in 2020.

HONG KONG IS AN IMPORTANT LOCATION FOR KOREA INTERESTS

  • Hong Kong is a separate customs territory recognised by the World Trade Organization as a member.
  • Hong Kong welcomes overseas investment and offers an environment in which there is a free flow of capital and return on investment without exchange controls.
  • In the survey covering 9 049 companies in Hong Kong with parent companies located outside Hong Kong in June 2021, there are 15 regional headquarters, 33 regional offices and 90 local offices in Hong Kong with their parent companies located in Korea.
  • Korea was the 17th largest source of external investment in Hong Kong at end-2020. Korea's inward direct investment in Hong Kong amounted to HK$37 billion, accounting for 0.3% of the total.
  • Hong Kong and Korea signed an Investment Promotion and Protection Agreements (IPPA) and the IPPA entered into force in July 1997. Please click here for more information.
  Summary of Hong Kong's Merchandise Trade with Korea  (in HK$ million)
2019 % Change 2019/2018 2020 % Change 2020/2019
Domestic Exports 1,238 +7.0 1,355 +9.5
Re-exports 55,317 -2.5 50,905 -8.0
Total Exports 56,555 -2.3 52,260 -7.6
Imports 220,071 -20.9 247,170 +12.3
Total Trade 276,626 -17.7 299,431 +8.2

While every effort is made to ensure the accuracy of the above information, the Department cannot guarantee this to be so and will not be held liable for any reliance placed on the same.

Trade and Industry Department
The Government of the Hong Kong
Special Administrative Region

Telephone : (852) 2398 5594
Website : www.tid.gov.hk

December 2021