AsemconnectVietnam - According to statistics from the General Department of Vietnam Customs, Vietnam's export turnover to the South Korean market in December of 2024 reached 2.2 billion USD, up by 7.4% over the previous month.

In 2024, the country’s exports of goods to South Korea reached more than 25.6 billion USD, up by 9.06% over the same period last year.
Vietnam's leading items exported to South Korea in 2024
The commodity with the largest export turnover in 2024 was the group of computers, products and components worth of 5.7 billion USD, up by 18.6%, accounting for 22.3% of the proportion. The next was phones of all kinds and components reaching 3.5 billion USD, accounting for 13.8% of the export proportion.
Some groups of export commodities to South Korea have increased export turnover in 2024, including Vegetables and fruits increased by 39.5%; coffee increased by 21%; fertilizers of all kinds increased by 154.4%; pepper increased by 77.7%.
Trade agreements promoted political, economic and cultural relations between Vietnam and South Korea
The potential for developing trade between Vietnam and Korea is huge. The bilateral free trade agreement has been contributing to further promoting political, economic and cultural relations between the two countries, further tightening the Vietnam - Korea strategic cooperative partnership.
In addition to the bilateral FTA, Vietnamese enterprises have more options when conducting import and export trade activities with Korea, thanks to the Regional Comprehensive Economic Partnership (RCEP) that took effect last year. Another FTA is the ASEAN - Korea Free Trade Agreement (AKFTA).
Vietnam is South Korea's third largest trading partner
Thanks to a strong recovery in the semiconductor sector, Vietnam maintains its third position in South Korea's trade partnership.
The Ministry of Trade, Industry and Energy (MoTIE) and the Korea International Trade Association (KITA) said that Vietnam will continue to be South Korea's third largest trading partner in 2024, after China and the US.
According to statistics from South Korea, the total bilateral trade turnover between Vietnam and South Korea in 2024 reached 86.7 billion USD, up by 9.2% compared to 2023. Of which, South Korea's exports to Vietnam reached 58.3 billion USD, up by 9.1%, while imports from Vietnam reached 28.4 billion USD, up by 9.6%.
The trade growth rate between Vietnam and South Korea reached 9.3%, surpassing other major partners such as the US (6.9%), China (1.9%) and Japan (1.1%). The trade balance was in favor of South Korea with a surplus of 29.9 billion USD, an increase of 2.3 billion USD compared to the previous year.
This result was largely due to the strong recovery in the semiconductor chip sector. Other key export items such as wireless communication equipment and synthetic resins also recorded impressive growth.
In fact, Vietnam – South Korea trade relations have grown remarkably since the establishment of diplomatic relations in 1992, with trade turnover increasing more than 150 times. After signing the FTA in 2014, trade turnover increased by more than 2.5 times. Currently, South Korea is the second largest importer and the third largest exporter of Vietnam.
In the tourism sector, South Korea leads with 4.1 million visitors to Vietnam, accounting for 1/4 of the total number of international visitors.
Mr. Hong Ji Sang - Head of Trend Analysis at KITA - commented that Southeast Asia is becoming a solution to diversify Korea's trade relations, in which Vietnam plays a key role.
CK
Source: VITIC/congthuong.vn