Seoul, South Korea's capital, is a global hub for the high-tech industry. South Korea is the 13th biggest economy in the world, with a population of around 52 million and a GDP of nearly USD 1.8 trillion. As per South Korea import data, the nation's industries are fueled by significant imports of raw materials, machinery, electronics, and energy. Its extensive involvement in global supply networks is demonstrated by the USD 631.7 billion in total imports.
As per South Korea customs data, a significant amount of imports, which are necessary to sustain South Korea's export-based economy, include capital goods, energy supplies, and electronic components.