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Türkiye and South Korea are looking to deepen cooperation across a range of sectors, including trade, tourism, investment and defense, as the two countries pursue a goal of increasing their bilateral trade volume to $15 billion.
South Korea remains one of the priority countries under Türkiye’s “Distant Countries Strategy,” which aims to strengthen economic ties with key markets around the world.
As part of these efforts, President Recep Tayyip Erdoğan is expected to visit South Korea later this month. During the visit, the two sides are anticipated to review bilateral relations comprehensively and discuss steps to enhance cooperation in energy, defense industries, transportation, infrastructure, high technology, culture and tourism.
The free trade agreement between Türkiye and South Korea entered into force in stages. The framework and goods trade agreements became effective on May 1, 2013, while the services trade and investment agreements took effect on Aug. 1, 2018.
Bilateral trade volume stood at $6.9 billion in 2013 and totaled $11.4 billion in 2025.
In the first nine months of 2026, trade volume between the two countries reached $8.7 billion.
Türkiye’s exports to South Korea amounted to $920.3 million during the January-September period. Pharmaceutical products were the leading export category at $321.8 million. Other major exports included ores, slag and ash at $124.2 million; boilers, machinery and mechanical appliances at $101.6 million; electrical machinery and equipment at $34.2 million; and preparations of vegetables and fruits at $33 million.
Tourism has also remained an important area of cooperation. The number of South Korean visitors to Türkiye increased 9.4 percent year-on-year to 226,434 in 2025. In the first nine months of 2026, arrivals from South Korea totaled 133,604.
