Australia-Korea trade reaches milestone

The scale of trade between Korea and Australia has increased dramatically since relations were established five decades ago.

Overall trade between the two countries ballooned to more than $27 billion during that period, making Korea Australia’s third largest trading partner.

The bilateral trade relationship is fueled by exports of Korean cars, petroleum products and automobile parts.

For its part, Australia sends coal, steel and oil products.

Additionally, Korea has invested more than $3 billion in Australian, which has nearly $2 billion in Korean investments.

(yoav@heraldcorp.com)