• South Korea

  • The current population of South Korea is 51 million, which is equivalent to 0.67% of the total world population. The population density in South Korea is 1,363 people / sq. mile, and 81.6% of the population is urban (41,740,471 people in 2018). The median age in South Korea is 41.3 years.

    GDP $1.538 trillion (nominal; 2017). It is the world’s 11th largest economy by nominal GDP and the 14th largest by purchasing power parity (PPP). The country ranks 27th in per capita GDP (nominal) at $29, 891 and in 30th per capita GDP (PPP) with $39,387 as of 2017. Click here for the U.S. Commercial Service’s South Korea Commercial Guide.

    South Korea is ranked 4th in Ease of Doing Business ranking by the World Bank in 2018. Click here for their South Korea fact sheet. South Korea is the world’s leading producer of displays and memory semiconductors and the second largest shipbuilding producer. Located between China and Japan, South Korea is within a 3-hour flight distance from 147 cities.

    KOTRA (Korea Trade-Investment Promotion Agency) is a state-funded trade and investment promotion organization operated by the Government of South Korea. They provide catered services to foreign investors considering investment opportunities in Korea, while also helping Korean exporters to build local network with potential business partners.

    KOCCA (Korea Creative Content Agency) is a governmental agency that oversees and coordinates the promotion of the Korean content industry.

    Startup accelerators in Seoul include MARU180, Seoul Space, and K-Startup Grand Challenge. South Korea based companies in Austin include Samsung, H Mart and HanAra Software.

    Austin – Gwangmyeong Relationship
    The Austin – Gwangmyeong Sister City Committee focuses on economic development and performing arts exchanges. The committee has a particular focus in music and organizes frequent visits from Korean musical groups to Austin and vice versa. Gwangmyeong is located about 9 miles from Seoul, is a gateway for the metro area and is a hub for culture and arts.

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