In 2019, Ukrainian-Korean trade increased by 8.9% compared to the previous year, amounting to 831.8 million dollars. USA, while Ukrainian exports amounted to 375.9 million dollars. the USA, and imports to Ukraine from the Republic of Korea amounted to 455.9 million dollars. USA.
In 2020, Ukrainian-Korean trade increased by 2.07% compared to the previous year, amounting to 849 million dollars. USA, while Ukrainian exports amounted to 351.53 million dollars. the USA, and imports to Ukraine from the Republic of Korea amounted to 497.45 million dollars. USA.
In 2021, Ukrainian-Korean trade increased by 17.13% compared to the previous year, amounting to 994 million dollars. USA, while Ukrainian. Some apparent drop in exports is due to the delay in sending Ukrainian grain at the end of the year, which was sent in the first days of January 2022. Thus, in January 2022, the turnover amounted to 106.07 million dollars. USA, imports amounted to 72.07 million dollars. the USA, and exports were 34.9 million dollars. USA, of which 74.21% are grain.
The structure of export of goods to the Republic of Korea has changed significantly in favor of processed products. The share of grain crops decreased from 80.2% (in 2020) to 68.7% (in 2021) to the amount of 204.8 million dollars. USA; oil and oilseeds increased from 3.98% to 7.88% to 29.6 million dollars. USA; food products (vegetables, beverages, dairy products increased from 1.96% to 2.52% to $7.5 million; chemicals increased from 4.72% to 10.5% to $31.4 million; metals decreased from 5.32% to 4.46% to 13.4 million US dollars;
The volume of goods imported from the Republic of Korea remained practically unchanged compared to 2020. The share of supplies of such goods as means of land transport, except for rail, remained unchanged at 30% (in 202) to 208 million dollars. USA; mechanisms, parts, tools did not significantly decrease from 30.45% to 29.83% (US$ 189.3 million); chemistry increased from 16.3% to 18.57% (US$ 129 million); rubber, rubber - remained at the level of 5.31% (US$ 36.9 million).
Bilateral trade in services between Ukraine and the Republic of Korea is characterized by a positive balance in favor of Ukraine. The volume of trade in services between Ukraine and the Republic of Kazakhstan in 2021 amounted to 76.38 million dollars. USA. Export of services amounted to 57.69 million dollars. USA (growth by 24.7%), import - 18.7 million dollars. USA (17.5% increase). The positive balance of trade in services for Ukraine amounted to almost 39 million dollars. USA.
Bilateral services trade turnover (in thousand US$)
Total services trade over
Balance of services
76 376, 3
As of December 31, 2021, according to the National Bank of Ukraine, the volume of direct investments from the Republic of Korea into the economy of Ukraine amounted to 42.3 million US$. According to the NBU, there are no Ukrainian investments in Korea.
Recent events in the bilateral economic relations
In 2008 Intergovernmental Ukrainian-Korean Commission on Trade and Economic Cooperation was launched to facilitate bilateral economic interaction. On April 24, 2018 the 4th Joint meeting of the Commission was held in Seoul
In 2019, «POSCO International» opened a grain terminal in Ukrainian port city of Mykolaiv and «GS Engineering & Construction» realized 2 projects for solar power generation in Western part of Ukraine.
In January 2021 Korean government included Ukraine as priority country to the Mid-Term Strategy for Development Cooperation (2021-2025) of the Official Development Assistance (ODA) as country with high potential of economic and diplomatic cooperation.
On June 7-8, 2022, the Deputy Minister of Foreign Affairs of Ukraine, D. Senik, visited the Republic of Korea, and on June 5-14, the visit of the Ukrainian parliamentary delegation took place, during which negotiations were held with the leadership of the Ministry of Foreign Affairs, the Minister of Land, Infrastructure and Transport (MOLIT), by the Ministry of Trade, Industry and Energy and the Export-Import Bank of Korea (KOREXIM). As part of the visits, business events "Recovery of Ukraine" were held with representatives of the construction industry of the Republic of Korea on the basis of the International Contractors Association of Korea (ICAK) and Korean International Trade Association (KITA), which were attended by representatives of leading construction companies such as "Samsung C&T", "Hyundai Engineering & Construction", "SK Engineering & Construction", "Dohwa", "GS Engineering & Construction", "DSME Construction" and others.
The 5th meeting of the Intergovernmental Ukrainian-Korean Commission on Trade and Economic Cooperation for September 2022 was agreed upon with the Korean side.
Exporters and Investors Council (EIC) under the Ministry of Foreign Affairs of Ukraine was established in 2013 in order to safeguard national interests in Ukrainian export promotion and attraction of foreign investments to Ukraine.
EIC is a platform, which unites Ukrainian producers, exporters and leading business associations providing necessary support in promoting their goods and services abroad and entering new markets, as well as attracting foreign investors and companies to Ukraine effectively using diplomatic tools, resources and networks.
The Head of the Council is the Minister for Foreign Affairs of Ukraine.
The State Customs Service of Ukraine informs that from July 1, 2021, the provisions of paragraph 61 of Section XXI of the Customs Code of Ukraine on mandatory registration with the State Customs Service of Ukraine of non-residents who declare goods in Ukraine come into force.
According to part eight of Article 455 of the Customs Code of Ukraine, non-registration is a ground for refusal of customs clearance and passage across the customs border of Ukraine of goods, commercial vehicles.
According to the first part of Article 455 of the Customs Code of Ukraine, non-resident persons are subject to mandatory registration who are:
declarants of goods, commercial vehicles, in the cases provided for in paragraph 4 of part two of Article 265 of the Customs Code of Ukraine (foreign carriers moving goods, commercial vehicles, transit through the territory of Ukraine);
carriers of goods across the customs border of Ukraine and/or between customs offices in the territory of Ukraine or is a person responsible for such transportation (foreign carriers moving goods under customs control).
It is possible to register:
when entering or leaving Ukraine by filling out the application form directly at the checkpoint and providing a copy of the registration
certificate of a non-resident issued by the competent authority of the country of registration;
by sending a completed application form by post to any customs office and providing a copy of the registration certificate issued by the competent authority of the country of registration;
Submit directly to any customs office a completed application form and a copy of the registration certificate issued by the competent authority of the country of registration, or submit these documents through an authorized person acting on the basis of a power of attorney from a nonresident, or through a customs clearance agent acting on the basis of an agreement between a non-resident and a Ukrainian customs broker.
The application form can be filled in any language of official international communication. To speed up the processing of information, it is desirable to fill it in Ukrainian or English.
After entering the data from the application into the information system of the customs service, a non-resident person will be assigned a temporary registration number within one hour.
Refusal to assign a temporary registration number is possible if:
the application form does not contain all the required data;
the non-resident is already registered.
The temporary registration number allows a non-resident person to carry out all customs formalities and procedures without restrictions.
The non-resident shall be informed about the registration and assignment of the registration number within the following five working days.
According to the Ukrainian Chamber of Commerce & Industry, starting from December 2021 the chambers of commerce & industry in Ukraine will issue non-preferential certificates of origin online (e-certificate)
- QR-code for confirmation purposes in column 4 of e-certificate «For official use» with a link to an official verification site where authenticity of e-certificate can be verified online;
- scan-copy of the signature and name of authorized person, scan-copy of the stampprint of the chamber of commerce in column 10 «Certification»;
- scan-copy of exporter’s/sender’s signature in column 11 «Declaration by the exporter»
In some cases, e-certificate may have multiple pages.
The existing form for paper-based issuance (Attachment 2) ( .pdf , 339.06 Кб ) will remain in use after the start of the issuance of e-certificates. The origin can be certified by existing paper-based form or by e-certificate, both forms will be in use.
Verification of all certificates issued by chambers in Ukraine both e-certificates and paper-based forms also is available on verification site of the Ukrainian CCI by the link: https://verify.ucci.org.ua.
For more information please contact:
Neonila Tkachenko,Department of Commodity Inspection & Certification of Origin,