South Korean ambassador: trade with Iraq reached $10.5 billion in 2025

BAGHDAD — South Korea’s ambassador to Iraq, Lee Jun-il, said Friday that trade between the two countries reached $10.5 billion last year, highlighting ongoing investment projects and describing Baghdad as secure for continued cooperation.

In remarks to the Iraqi News Agency, Lee said Korea considers itself “an ideal partner for Iraq in various fields, from infrastructure to technology and defense,” noting that cooperation has steadily developed since diplomatic relations resumed in 2003.

“We have an excellent relationship with Iraq, including high-level visits and continuous communication with Iraqi officials, and we fully support Iraq’s efforts to build a strong democratic state,” he said.

Lee said political cooperation effectively began after 2003, with South Korea participating in peace and reconstruction efforts, including the deployment of the Zaytun Division to the Kurdistan Region in 2004.

On economic ties, Lee said Iraq exported $9.1 billion worth of crude oil and petroleum products to South Korea in 2025, while Korean exports to Iraq included cars, spare parts, consumer electronics and pharmaceuticals.

He said Iraq is nearing the end of gas flaring and that there is strong Korean demand for gas, presenting an opportunity for Iraqi exports. Korean companies helped Iraq achieve self-sufficiency in gasoline products by building the Karbala refinery and half of the Basra refinery.

Lee said one of the most prominent Korean projects is the Grand Faw Port, being implemented by Daewoo Engineering & Construction. The port’s breakwater, measuring 14.5 kilometers, was recognized by Guinness World Records as the longest in the world.

He said Korean companies have implemented about 225 projects in Iraq since 1977, with a total value of $46 billion.

On defense cooperation, Lee said collaboration includes supplying T-50 training and light combat aircraft and KM-SAM medium-range air defense systems, along with training, spare parts and maintenance.

Iraq’s defense minister confirmed in November the acquisition of a South Korean air defense system designed to intercept aircraft and missiles. The military announced the KM-SAM system would enter service in early 2026.

Iraq also received two firefighting and rescue helicopters from South Korea in October for deployment in Baghdad, Basra and Nineveh.