Joe Cooney
Question:32. Deputy Joe Cooney asked the Minister for Foreign Affairs and Trade to outline Ireland's trading relationship with South Korea. [72770/25]
View answerWednesday, 17 December 2025
Questions (32)
Written answers
Ireland enjoys a strong and mutually beneficial trading relationship with the Republic of Korea. This relationship and steady growth in two-way trade is complemented by strong people-to-people connections and regular bilateral and multilateral political engagement.
Ireland’s total trade in goods with the Republic of Korea was valued at €2.6 billion in 2024; with exports from Ireland to the Republic of Korea in trade in goods valued at €0.9 billion, and imports from the Republic of Korea in trade in goods at €1.7 billion. In the absence of 2024 figures, total trade in services between Ireland and the Republic of Korea in 2023 was valued at €4.2 billion.
Important sectors for exports from Ireland to the Republic of Korea include agri-food, pharmaceuticals, ICT, life sciences, agri-tech and renewable energies while imports from the Republic of Korea to Ireland include electronics and motor vehicles.
Our trade and investment promotion agencies are active in the Korean market and work closely with my officials at the Irish Embassy in Seoul. All Team Ireland members in the Republic of Korea work hand in hand to support Irish companies already doing business or considering entering the Korean market, Korean companies seeking to invest in Ireland as well as to seek opportunities for deepening our trading relations.
Strengthening our two-way economic partnerships in the Asia-Pacific region is a key strategic priority for my Department. This is very much true of our relationship with the Republic of Korea, a valued partner of Ireland.
In October 2023 the then Taoiseach, accompanied by senior Ministers, led the very successful inaugural Team Ireland Trade Mission to the Republic of Korea – an initiative with the objective of supporting the Government’s development and expansion of Ireland’s exports, tourism, and inward investment from existing and new markets. This trade mission has been followed by regular Ministerial visits to the Republic of Korea in the furtherance of these goals as well as more broadly strengthening our bilateral relations.
Our work to further develop the economic relationship with the Republic of Korea is very much aligned with the objectives of the Government Action Plan on Market Diversification which was announced this year. This Action Plan sets out a whole-of-Government commitment to support Irish businesses to adapt to the evolving global trading environment by striking out into new and diverse markets and deepening their engagement in existing markets. The Government Trade Forum will monitor the implementation of the Action Plan, ensuring that there is direct engagement with business organisations.
My Department remains committed to further developing the strong trading relationship between Ireland and the Republic of Korea along with deepening and strengthening our already strong bilateral ties.