Ghana–South Korea relations

Ghana–South Korean relations refer to the current and historical relationship between the Republic of Ghana and the South Korea.

Ghana–South Korea relations
Map indicating locations of Ghana and South Korea

Ghana
South Korea
Diplomatic mission
Ghana Embassy, South KoreaEmbassy of South Korea, Accra

Economy

Comparatively, in 1960, Ghana had the same or a similar GDP per capita as South Korea. However, in 2017, Ghana had a GDP per capita of $1,641.487, while South Korea had a GDP per capita of $29,742.839. This is about ten times the GDP of Ghana per capita.[1]

Ghana's top product exported to South Korea is cocoa beans, estimated at $11.5 million in 2020. Ghana's total exports to South Korea in 2020 were estimated at $34 million. Other commodities exported from Ghana to South Korea are scrap copper, valued at $8.85 million in 2020, and industrial fatty acids, oils, and alcohols, valued at $6.56 million. On the other hand, South Korea's exports to Ghana in 2020 were estimated at $225 million. This is approximately seven times higher than Ghana's exports to South Korea. South Korea's top two commodities exported to Ghana were cars (estimated at $24.8 million) and delivery trucks (estimated at $15.8 million). Comparatively, Ghana's GDP per capita in 2020 was estimated at $2,254, while South Korea's GDP per capita was estimated at $31,598. This was fourteen times the GDP per capita of Ghana.[2]

References
  1. Adu Amoah, Lloyd G.; Asante, Kwasi (2019-03-07). "Ghana-Korea Economic Relations – The Record after 40 Years and the Future". African and Asian Studies. Brill. 18 (1–2): 6–39. doi:10.1163/15692108-12341414. ISSN 1569-2094. S2CID 151231028.
  2. "Ghana (GHA) and South Korea (KOR) Trade - The Observatory of Economic Complexity". OEC - The Observatory of Economic Complexity. 1995-01-01. Retrieved 2023-01-02.
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