Embassy of the Republic of Korea to the Kingdom of Belgium and the European Union and Permanent Mission to the North Atlantic Treaty Organization

Overview

General

• Country Name : Grand Duchy of Luxembourg
  • Luxembourgish : Groussherzogtum Lëtzebuerg
  • French : Grand-Duché de Luxembourg
  • German : Großherzogtum Luxemburg
• Official language(s)
  • Luxembourgish, French, German
• Climate
  • Continental climate
• Area
  • 2,586 ㎢
• Population
  • 610,100 (in 2021.7, WA)
• Capital
  • City of Luxembourg
• Religion
  • Roman Catholicism (87%), Other (13%)

Government and Politics

• National day
  • 23, June
• Government
  • Unitary parliamentary constitutional monarchy
• Grand Duke
  • Henri
• Prime Minister
  • Xavier Bettel
• Minister of Foreign Affairs
  • Jean Asselborn
• Legislature
  • Chamber of Deputies

Economy (2021, WB)

• GDP $85.5 billion
  • Per capital GDP : $133,590
• External Trade (2021, EUROSTAT)
  • Export: $14.2 billion
  • Import: $22.1 billion

High-level exchanges

After Grand Duke Henri was designated heir apparent in October in 1979, he visited Korea for the first time and it was his first official overseas tour as hereditary Grand duke. By February 2018, he had visited Korea eight times. (Hereditary Grand Duke Guillaume headed the economic mission to Korea since he was designated hereditary grand duke and it was also his first official overseas tour.)

Since the establishment of diplomatic relations between the Republic of Korea and the Grand-Duchy of Luxembourg in 1962, the two countries have developed not only strong ties of cooperation at the bilateral level, but also at the international level such as in the United Nations and the European Union. Specially, two countries have served as non- permanent members of the UN Security Council for the term of 2013-14.

Bilateral Trade (2022, KITA)

• Exports: $50 million (Aircraft parts, aluminum ingots and scraps, plastic rugs and wall coverings, etc.)
• Imports: $91 million(Valves, tuned products, radar and navigational radio equipment, etc.)
• Trade statistics over the last few years

  (Unit: $1 million/The rate of increase and decrease: %)

  Trade statistics over the last few years

  	2016	2017	2018	2019	2020	2021	2022
  Export (rate of increase)	10.7 (△17.1)	19.4 (81.6)	28.2 (45.0)	24.6 (△12.7)	18.4 (△25.2)	37 (103)	50 (32.8)
  Import (rate of increase)	82.1 (64.0)	69.0 (△15.9)	68.8 (△0.5)	67.7 (△1.4)	75.4 (11.4)	104 (38)	91 (△12.6)
  Balance of Trade	92.8	88.5	96.9	92.3	93.9	141	141
  Total volume	△71.4	△49.6	△40.5	△43.1	△57	△67	△41

  Reference: KITA

Bilateral Investment

• Luxembourg's investment in the ROK : 366 cases, $5,534 million (from 1968-2022, The Export-import Bank of Korea)
  • Main Luxembourg companies in Korea : Arcelor-Mittal, Cargolux, IEE, Waagner biro
• The ROK's investment in Luxembourg : 1,147 cases, $35,193 million (from 1968-2022, The Export-import Bank of Korea)
  • Main Korean companies in Luxembourg : Doosan electronics, Kiswire, Samhwa Steel, Hyosung

Updated on 15 February 2023