KOIMA

Korea’s import market has rapidly grown along with its export market. As Korea’s economy has progressed, its import volume reached over $615.05 billion in 2021 from merely $1 billion in 1968. The nation’s import market has shown a double digit growth rate consecutively since 2003 in general mainly affected by the global financial crisis. Korea is focusing more on import sector to establish a healthier economic structure. To ease the economic fallout from COVID-19 and create jobs, the Korean government has decided to push for the Korean New Deal. The initiative comprises the Digital New Deal, which seeks to accelerate the transition to a digital economy and create future-oriented jobs, and the Green New Deal, whose purpose is to create eco-friendly jobs. Korea already have the world’s leading competitive edge in the digital sector. Adding Korea's digital capabilities to industries around the world will help Korea grow into a more influential country in the global market. The Green New Deal is about responding preemptively to the climate crisis. Just like Digital New deal, green revolution, too, should be built upon strong digital technology. In this context, Korea's import market will offer various opportunities for foreign companies seeking to join the global digital and eco-friendly trends.