Population (2022): 51 million
GDP (2020): US$309.2 billion
World Bank "Ease of Doing Business" Rank (2020): 5th
Bilateral Trade with Singapore (2020): S$44.6 million
Global Competitiveness Index (2019): 79.6, 13th
Global Innovation Index (2021): 5th
Foreign direct investment (FDI) in South Korea has been steadily increasing. In 2020, the total value of foreign direct investment (FDI) inflows to South Korea was approximately US$20.75 billion. The FDI inflows recovered quickly in the second half of 2020 after a sharp decrease in the first half. The strong growth in FDI has been encouraged by cash assistance and incentives for overseas companies entering the market.
South Korea's economy is heavily dependent on international trade and the country is a major exporter of electronics, automobiles and robotics. The country is Singapore’s eighth largest trading partner, with total trade amounting to S$ 44.6 billion in 2020.