Brunei-South Korea partnerships open new opportunities

Brunei and South Korea: A Deepening Economic Partnership

Brunei Darussalam and South Korea are strengthening their economic ties, built on a longstanding friendly relationship and facilitated by the ASEAN-Korea Free Trade Agreement. This partnership is poised for further growth, with a focus on diversifying beyond traditional energy sectors.

Trade Growth and Diversification

Bilateral trade between Brunei and Korea has seen a significant increase, rising by 32% over the past three years following the pandemic. While currently representing the ninth-largest trade relationship for Brunei within ASEAN (as of 2025), the nation’s robust economy and stable macroeconomic environment present ample opportunities for Korean companies.

The focus is shifting towards emerging agri-food sectors, contributing to a projected 2% economic growth for Brunei in 2026. This diversification aligns with Brunei’s broader economic development strategy, which prioritizes connecting local enterprises to international demand and fostering sustainable growth.

Key Sectors for Collaboration

Opportunities are emerging in several key sectors, including food processing, halal industries, logistics, downstream manufacturing, and other value-added industries. These areas align with growing Korean demand for high-quality, safe, and sustainable products, and stable supply chains.

Brunei has historically been a reliable energy partner for Korea, contributing to its energy security. This foundation of trust is now being leveraged to explore new areas of cooperation.

Supporting MSMEs Through Trade Missions

The recent ASEAN-Korea Trade Facilitation Mission in Bandar Seri Begawan, organized by the ASEAN-Korea Centre (AKC) and the Korea Importers Association (KOIMA), with support from the Brunei Economic Development Board (BEDB), played a crucial role in fostering these connections.

This mission directly connected Bruneian micro, small and medium enterprises (MSMEs) with Korean importers, providing market insights and pathways for expansion beyond the domestic market. It addressed information gaps and facilitated dialogue, business matching, and relationship-building.

Brunei’s Economic Strengths

Brunei is highlighted as a high-income, stable, and reliable trade partner, boasting the second-highest gross domestic product per capita in ASEAN. Its solid economic fundamentals and clear diversification plan make it an attractive destination for Korean investment.

The ASEAN-Korea Trade Facilitation Mission served as a practical entry point for Bruneian enterprises into regional value chains, exposing them to Korea’s import requirements, consumer preferences, and regulatory environment.

FAQ

Q: What is the ASEAN-Korea Free Trade Agreement?
A: It’s a framework to facilitate trade, reduce barriers, and enhance market access between ASEAN economies and South Korea.

Q: What sectors are seeing growth in Brunei-Korea trade?
A: Emerging agri-food sectors are contributing to growth, alongside the traditional oil and gas industries.

Q: How are MSMEs being supported in this partnership?
A: Trade missions like the ASEAN-Korea Trade Facilitation Mission connect MSMEs with Korean importers and provide valuable market insights.

Q: What is Brunei’s GDP per capita?
A: Brunei has the second-highest gross domestic product per capita in ASEAN.

Did you know? Brunei’s bilateral trade with Korea increased by 32% over the past three years.

Pro Tip: Bruneian businesses looking to export to Korea should familiarize themselves with Korean import requirements and consumer preferences.

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What are your thoughts on the future of Brunei-Korea trade? Share your insights in the comments below!