A. These guides offer insights on current tariffs and quota involved with dealing with Korea.
- Discover New Markets EDC (pg. 28), Country Information EDC
- Fact Sheet (including details around Double Taxation) (Government of Canada)
- Doing Business Guide (UHY)
- Country Guide (HSBC)
Canada and the Republic of Korea have concluded negotiations for a bilateral free trade agreement that will come in effect soon, so we encourage Canadian businesses to start building relationships now. Once the agreement is implemented, Korea will remove duties on 98% of its tariff lines, covering all of Canada’s imports. An overview can be found here, with expected benefits for most sectors.
For companies looking to do business in South Korea, the Canadian Trade Commissioner Service can also help, with information like List of local Accounting and Legal firms, How to start a business in Korea, as well as the name of the Trade Commissioner with specific responsibility for each sector in south Korea and in Canada.