A Study on Ways to Expand Trade between Korea and South Africa: Focusing on Industry and Policy

South Africa is the leading economy in the African continent and plays a central role in SACU and SADC.It serves as a critical gateway to accessing the broader African market.South Africa boasts a diverse industrial infrastructure, abundant mineral resources, and well-developed industries such as petrochemicals and manufacturing.On the global diplomatic stage, South Africa exerts significant influence.Recently, the country has been rebuilding and expanding its domestic infrastructure while implementing support measures for key industries.Additionally, industrial zones have been established to attract foreign investment.South Korea and South Africa have maintained a long-standing trade relationship, and 2024 marks the 32nd anniversary of diplomatic relations.However, the trade volume between the two nations has remained relatively stagnant.South Korea primarily exports vehicles and machinery to South Africa while importing mineral-based products, highlighting the trade imbalance.Despite this, there is potential for significant growth in their economic ties.This study analyzes South Africa's major industries and related policies, examines the current state of trade relations-including the potential for a bilateral Free Trade Agreement (FTA)-and proposes strategies for enhancing trade between the two countries.Both nations can benefit from expanded trade and mutual growth by fostering collaboration in key areas such as energy and industrial development.