The revised U.S.-Korea Free Trade Agreement (KORUS) – entered into force January 1, 2019 – reaffirmed South Korea as a welcoming export destination for U.S. firms. 

In 2020, South Korea South Korea pledged to pursue a fundamental shift in its energy mix, replacing a dependence on coal with renewable energy. To meet its climate commitments, the South Korean government aims to scale its renewables sector to 22% of power generation by 2030 from 7% in 2020. 

For detailed information on other industry opportunities in South Korea, please see Leading Sectors for U.S. Exports and Investment chapter of this report.