Samsung SDI and Stellantis announced plans to build an electric battery production plant in the U.S. The planned factory, set for operation in the first half of 2025, is envisioned to produce 23 gigawatt-hours of batteries annually. Read more: https://t.co/z2ZS2kKaGJ
The South Korean unit of General Motors Co. said Thursday that it will suspend one of its three plants for two weeks early next month due to a chip shortage. GM Korea said it will suspend its No. 1 plant in Incheaon, from October 1-15. Read more here: https://t.co/x4ZuVW6SQp
As of August, total sales of imported cars with a retail price exceeding $85,156 jumped 65.5% percent on-year, according to data from the Korea Automobile Importers & Distributors Association. Read more about the impressive increase here: https://t.co/v24vTHc4N5
South Korea maintained the number one spot in new shipbuilding orders for the 4th month straight. Local shipbuilders led by Hyundai Heavy Industries Co. took up 57% of global orders. Read more here: https://t.co/eDAPcjqn4R
Retail sales in South Korea increased 13 percent in July from a year earlier, data showed Thursday. The combined sales of 25 major offline and online retailers reached $11 billion, up 7% from the previous year. Read more here: https://t.co/4hk1dkQG9e
State-by-State Map Benefits
Want the U.S.-Korea trade facts and figures on your state? Click on the map to the right to get information on exports, imports, industries, beneficiaries, successes, opportunities, and local news and events.
History of US Korea Connect
The U.S. and Korea have maintained a long and mutually beneficial relationship built on respect and trust. The U.S.-Korea Free Trade Agreement furthers this strong relationship by encouraging the free flow of products and services between the United States and Korea. The following is a timeline of the development and implementation of the FTA.
Interesting Facts
Interesting Facts
In 2015, Korea was the United States’ 6th largest trading partner, while the United States was Korea’s 2nd largest.
Top Imports
Top Imports
- Communications equipment
- Motor vehicles
- Motor vehicle parts
Top Exports
Top Exports
- Semiconductors and components
- Aerospace products
- Chemicals