Since 2015, a free trade agreement between the European Union and the Republic of Korea has been in effect, significantly enhancing economic cooperation between EU countries and the Republic of Korea.
In 2023, the total trade turnover between Latvia and the Republic of Korea amounted to EUR 142.4 million. Latvia’s key exports to the Republic of Korea include wood and related products, mineral products, cement, glass, ceramic products, and machinery. Additionally, Latvian companies are involved in high-tech sectors, exporting products such as plywood, fiberglass, software programs and more.
To further support economic relations, Latvia established a foreign economic representation in Seoul in 2020. The office aids Latvian and Korean entrepreneurs to promote trade between the two countries, offering guidance on starting business, presenting investment opportunities etc.
For assistance with trade and investment inquiries, please contact the head of the Latvian representative office in Seoul is:
Mārtiņš Baumanis
Head of the Representative Office of Latvia’s Investment and Development Agency (LIAA) in the Republic of Korea
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: +82 1032465023
For further details insights into business opportunities with Latvia, please visit the following links:
- Latvia-South Korea Foreign Trade 2005-2024
- Invest in Latvia
- Latvian Investment and Development Agency
- Labs of Latvia
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The wood and wood products (include. pulp & paper and furniture) sector is one of the most important industrial sectors in Latvia. An excellent overview about the forest industry and business opportunities.
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