Iran-South Korea trade reaches $56m in early 2025

TEHRAN – Trade between Iran and South Korea reached nearly $56 million in the first four months of 2025, highlighting ongoing commercial ties despite external challenges and a decline in Iran’s exports.

According to a report by the Iran-South Korea Joint Chamber of Commerce, citing data from the Korea International Trade Association (KITA), South Korea exported approximately $55.7 million worth of goods to Iran between January and April 2025. Imports from Iran stood at $505,000 during the same period.

While Iran’s non-oil exports to South Korea fell 84 percent compared to the same period in 2024, the overall trade volume reflects continued engagement between the two economies.

The drop comes after a strong performance in 2024, when Iran’s non-oil exports to South Korea surged by 180 percent to $8.6 million. The growth was largely fueled by sales of copper concentrate, polyethylene, dried fruits, and saffron. Copper concentrate alone made up more than 90 percent of Iran’s exports to South Korea, underlining its strategic importance to South Korea’s electronics and technology sectors.

The report also noted a downward trend in South Korea’s imports from Iran during 2024. In February, imports declined to about $426,000 from $757,000 in January. Meanwhile, South Korea’s exports to Iran dropped 11 percent in 2024 to $142.6 million, amid global sanctions, banking restrictions, economic conditions in Iran, and shifts in South Korea’s export priorities.

Despite the recent decline in trade, the nearly $56 million exchanged in the first months of 2025 signals room for recovery and sustained interest in bilateral commerce.

EF/MA

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