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Bilateral merchandise trade has doubled since CKFTA entry into force in 2015
2024 bilateral merchandise trade: $24.5B
99% of Canadian exports qualify for tariff-free access Canada's 8th largest trading partner overall
Canada's 6th largest merchandise export market
Canadian merchandise exports to Korea (2025): $7.1B Canadian exports to Korea: C$8.2B (H1 2025 — already exceeding full-year 2024)
Canadian imports from Korea: C$3.7B (H1 2025) Objectives: strengthen economic, industrial, and technology cooperation
Supports Canada's Indo-Pacific Strategy
Advances the Prime Minister's goal to double non-U.S. exports within 10 years The two countries elevated their relationship to a Comprehensive Strategic Partnership in 2024 ([GAC Relations](https://www.international.gc.ca/country-pays/republic_korea-republique_coree/relations.aspx?lang=eng))
Priority sectors: minerals & energy, advanced technology, digital economy, climate change Bilateral merchandise trade (2024): $24.5B
Canadian exports to Korea (2025): $7.1B
Canadian exports to Korea (H1 2025): C$8.2B (exceeds full-year 2024)
Canadian imports from Korea (H1 2025): C$3.7B
Korea's ranking: 8th largest trading partner; 6th largest export market
Tariff-free rate: 99%
Mineral resources share of exports: 57%
Agricultural products share of exports: 12%
CKFTA entry into force: 2015 (10th anniversary)
Team Canada mission to Korea: April 2026 (planned) Canada-Korea trade is growing at a record pace, and the April 2026 Team Canada trade mission represents a direct business development opportunity for Rise Partners. Proactive efforts to secure the participating company roster and identify matching opportunities ahead of the mission are strongly recommended.
Canada's strategic push to double non-U.S. exports positions Korea as a primary alternative market. This signals that Canadian companies will be increasingly motivated to enter the Korean market, pointing to growing demand for Rise Partners' Canada-Korea business matching services.
The current concentration of Canadian exports in mineral resources (57%) signals a structural opportunity in technology, services, and cultural industries. Rise Partners can strengthen its consulting positioning as a facilitator of this diversification shift.
Economy February 11, 2026 · 5 min read
Canada-Korea Bilateral Trade: Current State & Outlook — CKFTA 10th Anniversary
캐나다-한국 양자 무역 현황 및 전망 - CKFTA 10주년
Key Takeaway
Marking the 10th anniversary of the Canada-Korea Free Trade Agreement (CKFTA), bilateral merchandise trade has doubled since 2014, reaching $24.5B in 2024. Canadian exports to Korea in H1 2025 alone reached C$8.2B — already surpassing the full-year 2024 result. With a Team Canada trade mission to Korea planned for April 2026 and the Canadian government's commitment to doubling non-U.S. exports within a decade, Korea's strategic importance as a priority market is at an all-time high.
# Canada-Korea Bilateral Trade: Current State & Outlook — CKFTA 10th Anniversary
Key Summary
Marking the 10th anniversary of the Canada-Korea Free Trade Agreement (CKFTA), bilateral merchandise trade has doubled since 2014, reaching $24.5B in 2024. Canadian exports to Korea in the first half of 2025 alone reached C$8.2B — already surpassing the full-year 2024 figure. With a Team Canada trade mission to Korea scheduled for April 2026, and the Canadian government's strategic objective to double non-U.S. exports within a decade, Korea's strategic importance as a target market has never been greater.Details
CKFTA 10th Anniversary: Key Achievements
Per Asia Pacific Foundation of Canada analysis ([APF Backgrounder](https://www.asiapacific.ca/publication/background-note-10th-anniversary-canada-korea-free-trade-agreement-2025)):Korea's Standing as a Canadian Trade Partner (2025)
Accelerating Trade Momentum (H1 2025)
Export Composition (2015–June 2025)
| Product Category | Share | |-----------------|-------| | Mineral resources (ores, mineral fuels, etc.) | 57% | | Agricultural products (meat, seafood) | 12% | | Machinery & electrical equipment | Other major category | | Wood products | Other major category |April 2026 Team Canada Trade Mission
The Canadian government is planning a trade mission to Korea in April 2026 ([Trade Commissioner](https://www.tradecommissioner.gc.ca/en/trade-events-training/2026/04/team-canada-trade-mission-republic-korea.html)):Canada-Korea Relationship Framework
OEC Data
Detailed bilateral trade data by product category is available via the Observatory of Economic Complexity ([OEC Bilateral](https://oec.world/en/profile/bilateral-country/can/partner/kor)).Key Figures
Rise Partners Implications
--- Source: https://www.edc.ca/en/article/doing-business-south-korea.html
Implications
Canada-Korea trade is growing at a record pace, and the April 2026 Team Canada trade mission represents a direct business development opportunity for Rise Partners. Proactive efforts to secure the participating company roster and identify partnership matching opportunities well ahead of the mission are strongly recommended.