Australia and South Korea
Australia supplies energy and resources; South Korea, manufactured goods and refined products. Industrial and maritime cooperation combines with historical ties, migration and educational contacts.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07A relationship that began before major trade flows
Australia participated under United Nations command in the Korean War.
Australian resources and Korean manufactured goods
The KAFTA free trade agreement entered into force on December 12, 2014.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 34,413.56 M USD | 2025 · UN Comtrade / AUS |
| Goods: Australia to South Korea | 19,815.59 M USD | 2025 · UN Comtrade / AUS |
| Goods: South Korea to Australia | 14,597.97 M USD | 2025 · UN Comtrade / AUS |
| Services trade | ||
| Export share: Australia to South Korea | 5.9 % | 2025 · UN Comtrade / AUS |
| Export share: South Korea to Australia | ||
| Investment stock: Australia in South Korea | ||
| Investment stock: South Korea in Australia |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade / AUS · Goods; full year; reporter AUS. Exports normally FOB and imports CIF according to the reporter's coverage. Mirror reports are not added together.
- Goods: Australia to South Korea
- 2025 · UN Comtrade / AUS · Goods; full year; reporter AUS. Exports normally FOB and imports CIF according to the reporter's coverage. Mirror reports are not added together.
- Goods: South Korea to Australia
- 2025 · UN Comtrade / AUS · Goods; full year; reporter AUS. Exports normally FOB and imports CIF according to the reporter's coverage. Mirror reports are not added together.
- Export share: Australia to South Korea
- 2025 · UN Comtrade / AUS · Goods share: AUS exports to the partner / exports by the same reporter to the world, same year.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Year-on-year inflation: different periods or frequencies; the two figures are not directly comparable.
| Indicator | Australia | South Korea |
|---|---|---|
| Nominal GDP | 1.8 trillion USD2025 · WB | 1.87 trillion USD2025 · WB |
| GDP per capita | 65,129.72 USD2025 · WB | 36,226.97 USD2025 · WB |
| GDP growth | 1.35 %2025 · WB | 1.01 %2025 · WB |
| Policy interest rate | 4.6 %2026-09-29 · RBA | 3 %2026-08-27 · Bank of Korea |
| Inflation · annual average | 2.87 %Annual average · 2025 · WB | 2.12 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 4 %Headline CPI · 2026-08 · year-on-year · ABS | 2.9 %Headline CPI · 2026-09 · year-on-year · Ministry of Data and Statistics |
| Unemployment | 4.09 %ILO est.2025 · WB | 2.68 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -2.8 %IMF est.2025 · IMF | -1.4 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 51 %IMF est.2025 · IMF | 52.3 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -2.68 %2025 · WB | 6.57 %2025 · WB |
| Population | 27,614,4112025 · WB | 51,684,5642025 · WB |
| Area | 7,741,220 km²2023 · WB | 100,450 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDAustralia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.South Korea: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP per capita
- Current USD per personAustralia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.South Korea: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP growth
- Annual real change (%)Australia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.South Korea: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Policy interest rate
- Central bank instrument (%)Australia: 2026-09-29 · Cash rate target · RBA · Official central-bank decision; not a commercial lending rate or a bill yield.South Korea: 2026-08-27 · Base Rate · Bank of Korea · Official central-bank decision; not a commercial lending rate or a bill yield.
- Inflation · annual average
- Average annual change in headline CPI (%)Australia: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.South Korea: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedAustralia: 2026-08 · National headline CPI, change from the same month of the previous year · ABS · Published: 2026-09-30 · Official monthly data. Not mixed with the annual average. · Alternative official source; verified 2026-10-07South Korea: 2026-09 · National headline CPI, change from the same month of the previous year · Ministry of Data and Statistics · Published: 2026-10-02 · Official monthly data. Not mixed with the annual average. · Alternative official source; verified 2026-10-07
- Unemployment
- % of the labour force; definition used by the stated institutionAustralia: 2025 · ILO modelled estimate, % of the labour force · World Bank · ILO est. · Official World Bank series; latest verified period available for this series in the 2023–2025 query.South Korea: 2025 · ILO modelled estimate, % of the labour force · World Bank · ILO est. · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Budget balance
- General government (% of GDP)Australia: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.South Korea: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Gross public debt
- General government (% of GDP)Australia: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.South Korea: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Current account balance
- % of GDPAustralia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.South Korea: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Population
- PeopleAustralia: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.South Korea: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Area
- Total area in km²; territorial coverage of the sourceAustralia: 2023 · World Bank / FAO · Official World Bank series; latest verified period available for this series in the 2023–2025 query.South Korea: 2023 · World Bank / FAO · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Australia to South Korea
South Korea to Australia
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | Australia to South Korea | South Korea to Australia |
|---|---|---|---|
| 2021 | 32,068 | 22,592.9 | 9,475.2 |
| 2022 | 43,750.8 | 24,697.5 | 19,053.3 |
| 2023 | 39,001.4 | 20,904.8 | 18,096.6 |
| 2024 | 36,382 | 19,869.5 | 16,512.5 |
| 2025 | 34,413.6 | 19,815.6 | 14,598 |
Connections between people
Place of birth, ancestry, students, scholarship recipients and visitor arrivals are distinguished. The 2021 census is not presented as population observed in 2026, nor partial educational programs as total exchanges. [1] [4]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Australia living in South Korea | ||
| Residents from South Korea living in AustraliaBorn in South Korea; Australian census | >102.000 | 2021 · Australia DFAT |
| Study and training: Australia in South Korea | ||
| Study and training: South Korea in Australia | ||
| Academic stays: Australia in South Korea | ||
| Academic stays: South Korea in Australia | ||
| Travel: Australia to South Korea | ||
| Travel: South Korea to AustraliaVisitors from South Korea; DFAT figure | >398.430arrivals | 2025 · Australia DFAT |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
- Residents from South Korea living in Australia
- The source reports more than 102,000 people born in South Korea; not citizenship, ancestry or new immigrants. 2021 · Australia DFAT
- Travel: South Korea to Australia
- The source says more than 398,430 visitors; the published threshold is retained and not treated as unique individuals. 2025 · Australia DFAT
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
A relationship that began before major trade flows
Australia participated under United Nations command in the Korean War. Modern diplomatic relations were established in 1961, and the December 2021 presidential visit elevated the framework to a comprehensive strategic partnership. Its declaration organizes strategic, economic and people-to-people cooperation. Military history remains present in commemorations and recovery of remains, while the current relationship has a broader social and productive base. The two economies maintain regular political and technical contacts; the bilateral partnership should not be confused with all obligations of their respective alliances with the United States. [1] [2]
Australian resources and Korean manufactured goods
The KAFTA free trade agreement entered into force on December 12, 2014. Australia sells resources and food, while South Korea supplies vehicles and refined products. The relationship therefore has material complementarity: energy for production and industrial goods for consumption or investment. DFAT notes that Korea is Australia's largest diesel supplier and Australia is Korea's largest liquefied natural gas supplier. Opportunities in critical minerals, hydrogen and green metals add new production chains. Total investments published by DFAT include more than direct investment and are not copied into that table cell. [1] [3] [2]
Communities, universities and maritime cooperation
Social contacts include migration, tourism and education. Australia's 2021 census counted more than 102,000 residents born in South Korea; the Korean ancestry figure is larger and measures something else. Australia also maintains mobility programs and Korean studies. Security includes meetings of foreign and defense ministers, naval exercises and collaboration in the United Nations Command. These activities have specific mandates. The New Colombo Plan records scholarship recipients and program participants, so its cumulative totals since 2014 do not represent all Australian students currently in Korea. [1] [4]
The scale of the two economies
Australia's reference nominal GDP is 1798.5 billion USD in 2025, compared with 1872.4 in 2025 for South Korea. The reference populations are 27.61 million (2025) and 51.68 million (2025), respectively. In the same year, Australia's nominal GDP was 0.96 times South Korea's. The figures contextualize market size; they do not in themselves describe well-being, individual wealth or political influence. IMF estimates or demographic extrapolations retain their markings in the table. A ratio is not calculated when the periods do not match. [6] [7]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
The April 2026 energy declaration
On 30 April 2026, both countries published a declaration on energy security in response to the consequences of the Middle East crisis. They committed to keeping supply chains open and notifying and consulting each other about possible disruptions to fuels and other resources, as far as practicable. The text also includes the energy vulnerability of Pacific island countries. It is a coordination commitment, not a guarantee against shortages or an additional volume of gas already sold. Green economy agreements and maritime corridors help position this response within cooperation combining current supply and the energy transition. [3] [1]
Observed economic exchange
In 2025, recorded goods trade between Australia and South Korea totaled USD 34,413.6 million. Shipments from Australia to South Korea were 19,815.6 million USD; those in the opposite direction were 14,598 million USD. Australia's shipments to the partner represented 5.9% of its goods exports to the world, using the same year and reporter. A single customs declaration is used for both directions. This annual flow does not include all services activity or subsidiaries' local sales and is not added to accumulated investment capital. [5]
Mobility and communities: documented figures
The published figure for South Korea in Australia is >102,000 residents (2021). Born in South Korea; Australian census. The source reports more than 102,000 people born in South Korea; not citizenship, ancestry or new immigrants. [1]
The published figure for South Korea in Australia is >398,430 arrivals (2025). Visitors from South Korea; DFAT figure. The source says more than 398,430 visitors; the published threshold is retained and not treated as unique individuals. [1]
Milestones and consequences
- 1950
Korean War
Australia participates in the military effort under UN command. [1]
- 1961
Diplomatic relations
The modern diplomatic relationship begins. [1]
- 2014-12-12
KAFTA enters into force
The free trade agreement applies. [1]
- 2021-12-13
Comprehensive strategic partnership
The cooperation framework is expanded. [2]
- 2026-04-30
Energy security
Declaration on resilience and consultations in the event of disruptions. [3]
Sources and data
Periods and scope of the figures
Each figure retains its period, unit, definition and source. Announcements, contracts and results are not interchangeable. Empty cells do not mean zero. Customs data for 2025 are not presented as activity observed during later crises.
- Australia's relationship with South Korea
Australia DFAT · Institutional source · Accessed: 2026-10-07
- Strategic partnership of 2021
Australia DFAT · Institutional source · Accessed: 2026-10-07
- Declaration on energy security
Australian Minister for Foreign Affairs · Institutional source · Document: 2026-04-30 · Accessed: 2026-10-07
- Regional cooperation and supply chains
Australia DFAT · Institutional source · Accessed: 2026-10-07
- Annual TOTAL X/M; 2025; reporter 36; partners 0,410
UN Comtrade / AUS · Institutional source · Accessed: 2026-10-07
- NY.GDP.MKTP.CD; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- SP.POP.TOTL; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- HS2 26; 2025; reporter 36; partners 410; X/M; annual goods
UN Comtrade / AUS · Institutional source · Accessed: 2026-10-07
- HS2 27; 2025; reporter 36; partners 410; X/M; annual goods
UN Comtrade / AUS · Institutional source · Accessed: 2026-10-07
- HS2 84; 2025; reporter 36; partners 410; X/M; annual goods
UN Comtrade / AUS · Institutional source · Accessed: 2026-10-07
- HS2 87; 2025; reporter 36; partners 410; X/M; annual goods
UN Comtrade / AUS · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade / AUS
2026-10-07 · Accessed: 2026-10-07 · HS2 26; 2025; reporter 36; partners 410; X/M; annual goods.
- UN Comtrade / AUS
2026-10-07 · Accessed: 2026-10-07 · HS2 27; 2025; reporter 36; partners 410; X/M; annual goods.
- UN Comtrade / AUS
2026-10-07 · Accessed: 2026-10-07 · HS2 84; 2025; reporter 36; partners 410; X/M; annual goods.
- UN Comtrade / AUS
2026-10-07 · Accessed: 2026-10-07 · HS2 87; 2025; reporter 36; partners 410; X/M; annual goods.