gov.uk

UK exporters to South Korea tie up deals worth ‘tens of millions’

Government-backed trade shows in South Korea have helped UK businesses raise tens of millions of pounds in the last twelve months.

UK exporters to South Korea have landed deals they estimate to be worth over £70 million following support from the Department for International Trade (DIT).

UK-made products ranging from hydrogen fuel cells and offshore wind technology to lifejackets will be supplied to the South Korean market through deals made at DIT-supported trade shows in South Korea.

In fact, UK exports to this fast-growing nation increased by 9% (or £620 million) in the year to June 2021 compared to the same period the previous year.

South Korea is the tenth largest economy in the world and a growing market for exports of top-quality British products. The country forms a key part of UK’s strategic tilt to the Indo-Pacific region as we look for new opportunities to trade.

Trade between our two nations increased by 6% to total £13 billion in the year to June 2021, and the UK exported £2 billion more to South Korea than it imported.

DIT’s Pavilion showcase series – which provides stalls for UK companies to exhibit at overseas tradeshows – has enabled British firms to promote their products at South Korea’s largest events.

Read more: UK exporters to South Korea tie up deals worth ‘tens of millions’