The revised U.S.-Korea Free Trade Agreement (KORUS) – entered into force January 1, 2019 – reaffirmed South Korea as a welcoming export destination for U.S. firms.
In 2020, South Korea South Korea pledged to pursue a fundamental shift in its energy mix, replacing a dependence on coal with renewable energy. To meet its climate commitments, the South Korean government aims to scale its renewables sector to 22% of power generation by 2030 from 7% in 2020. For additional information on clean tech opportunities in South Korea, explore ITA’s Clean Tech Top Export Market Ranking.
For detailed information on other industry opportunities in South Korea, please see Leading Sectors for U.S. Exports and Investment chapter of this report.