Türkiye and South Korea economic cooperation is getting stronger! Trade volume in the first 9 months was 8.7 billion dollars

The trade volume between Türkiye and South Korea, which focuses on improving cooperation in many areas such as trade and tourism, reached 11.4 billion dollars last year and 8.7 billion dollars in the 9 months of this year.

BILATERAL RELATIONS WILL BE CONSIDERED IN ALL ASPECTS

It is aimed to develop cooperation with South Korea, which is within the scope of Türkiye's "Distant Countries Strategy", from trade to tourism, from investment to the defense industry.

In this context, President Recep Tayyip Erdoğan is planned to visit South Korea this month.

It is expected that all aspects of bilateral relations will be discussed during the talks to be held within the scope of the visit.

It is expected that steps that will improve cooperation in the fields of energy, defense industry, transportation, infrastructure, high technology, culture and tourism will be discussed during the meetings.

PHARMACEUTICAL PRODUCTS FEATURED IN EXPORT IN 9 MONTHS OF THE YEAR

Within the scope of the free trade agreement (FTA) between Turkey and South Korea, framework and goods trade agreements regarding the gradual liberalization of trade in goods entered into force on May 1, 2013, and services trade and investment agreements entered into force on August 1, 2018.

While Türkiye-South Korea trade volume was around 6.9 billion dollars in 2013, it increased to 8.2 billion dollars in 2014. The trade volume in question was recorded as approximately 7.3 billion dollars annually on average in the 2015-2019 period.

The trade volume of the two countries followed a stable course in the 2020-2023 period. In this context, the trade volume, which was 6.8 billion dollars in 2020, increased to 8.6 billion dollars in 2021, 10.1 billion dollars in 2022, and 10.5 billion dollars in 2023.

While the trade volume between the two countries was recorded as 10.2 billion dollars in 2024, it increased to 11.4 billion dollars in 2025.

In the 9 months of this year, the volume in question was 8.7 billion dollars.

It is aimed to increase the Türkiye-South Korea trade volume to 15 billion dollars.

While Türkiye's exports to this country in the 9 months of the year reached 920.3 million dollars, pharmaceutical products stood out among the export items. Türkiye's exports in this field were recorded as 321.8 million dollars.

This area was followed by "ores, slag and ash" with 124.2 million dollars, "boilers, machines, mechanical devices and tools" with 101.6 million dollars, "electrical machinery and equipment" with 34.2 million dollars and "vegetables and fruits preparations" with 33 million dollars.

MORE THAN 133 THOUSAND TOURISTS CAME IN THE 9 MONTHS OF THE YEAR

The number of tourists coming to Türkiye from South Korea in 2025 was calculated as 226 thousand 434, an increase of 9.4 percent compared to the previous year.

In the January-September period of this year, the number of tourists coming from South Korea was recorded as 133 thousand 604.