Brunei-Korea Trade: Expanding Economic Ties & Opportunities for MSMEs

Brunei and South Korea Strengthen Economic Ties Through Trade Mission

February 3, 2026 –

Brunei Darussalam and South Korea are deepening their economic partnership, with a recent trade mission aimed at bolstering collaboration and expanding market access. The initiative, held in Bandar Seri Begawan, focused on creating opportunities for Bruneian businesses, particularly micro, small and medium-sized enterprises (MSMEs), to connect with Korean importers.

Permanent Secretary at Brunei’s Ministry of Finance and Economy, Dr. Hajah May Fae’zah binti Haji Ahmad Ariffin, highlighted the longstanding friendly relationship between the two nations during her keynote address at the ASEAN-Korea Trade Facilitation Mission. She emphasized that Brunei’s approach to economic development centers on connecting local enterprises to international demand and fostering sustainable growth. “The ASEAN-Korea Trade Facilitation Mission is both timely and practical, providing an important platform for Brunei companies to meet with the Korean importers and explore opportunities for collaboration,” she said.

The mission, organized by the ASEAN-Korea Centre (AKC) in collaboration with the Korea Importers Association (KOIMA) and supported by the Brunei Economic Development Board (BEDB), facilitated business matching sessions and provided insights into Korea’s import requirements and consumer preferences. This support is crucial for Bruneian MSMEs looking to expand beyond the domestic market.

According to Secretary-General of the ASEAN-Korea Centre, Kim Jae-shin, while bilateral trade between Brunei and Korea has been relatively modest compared to other ASEAN Member States – ranking ninth in 2025 – Brunei’s economy remains robust. He noted the strong performance of Brunei’s traditional oil and gas industries, alongside growing trade in emerging agri-food sectors, projecting a two percent growth for the country in 2026. “With the second-highest gross domestic product per capita in ASEAN and strong macroeconomic stability Brunei offers ample opportunities for Korean companies across diverse sectors, many of which are present today,” Kim stated. He also pointed to a 32 percent increase in bilateral trade over the past three years following the pandemic, with further growth anticipated.

Youn Young-mi, Chairwoman of the Korea Importers Association (KOIMA), underscored Brunei’s reliability as a partner, particularly in the energy sector, which has contributed to Korea’s energy security. She noted that the partnership is now expanding into new areas as Brunei actively diversifies its economy. “Opportunities are emerging in sectors such as food processing, halal industries, logistics, downstream manufacturing, and other value-added industries,” Youn outlined. “These areas align well with the growing demand in the Korean market for high-quality, safe, and sustainable products, as well as for stable and trustworthy supply chains.”

The mission builds upon the foundation established by the ASEAN-Korea Free Trade Agreement, which aims to facilitate trade, reduce barriers, and enhance market access between Brunei and South Korea. The focus on MSMEs reflects their critical role in the economic development of ASEAN, accounting for a significant portion of employment, GDP contribution, and national exports.

Korean Ambassador to Brunei Darussalam, Sun Nahmkook, welcomed participants to the mission, thanking the Ministry of Finance and Economy, the BEDB, the ASEAN-Korea Centre, and KOIMA for their collaboration in organizing the event. The initiative is part of a broader effort by the ASEAN-Korea Centre, which launched similar trade promotion missions in Indonesia, Laos, and Thailand in 2025, and continues with a mission in Singapore following Brunei.

The ASEAN-Korea Centre initiative aims to boost trade and investment between Korea and ASEAN member states, providing a platform for business forums, matching sessions, and industrial site visits. Twenty-one Korean companies across food, materials, and consumer goods sectors participated alongside approximately 30 local firms from Brunei and Singapore.