KITA News
  • 「 Korea’s Trade! Together to the World and the Future 」
    2019-01-02 hit 239

    Korea’s Trade! Together to the World and the Future

     

    - Held ‘the 54th Trade Day’ Celebration at COEX on December 7 -

     

    - 680 men of merit and 1,153 export companies received awards and Export Towers -

     

    The Korea International Trade Association (Chairman, Kim Young-joo) announced, "Upon the celebration of the 55th Trade Day, which has achieved $ 1 trillion in trade for two consecutive years, Export Tower will be presented and men of merit will be rewarded in order to appreciate the exporters and men of merits who were committed to increase exports.

      

    Samsung Electronics Co., Ltd. was the first company to achieve the Export Tower of US $ 90 billion in exports, SK Hynix Co., Ltd. awarded the Export Tower of US $ 25 billion and Neople, INC., Korea BASF Corp., Hyundai Chemical Co., Ltd., and Korea Petrochemical Ind. Co. received the Export Tower of US $ 1 billion. 1,264 companies, 111 more companies compared to last year, received Export Towers.

      

    By the scale of the Export Tower, the number of companies that received below $ 5 million Export Tower increased to 842, 70 more companies compared to the previous year, and the number of companies that awarded above $ 100 million Export Tower surged to 62 from 36 last year.

      

    In the area of men of merit for exports, 680 people, including the Order of IndustrialService Merit winners Yang Geol, the Vice President Samsung Electronics Co., Ltd., Lee Hyo, CEO of Nova International Co., Ltd., Jang Man-ho, CEO of Innopia Technologies, Inc., Ha dong-gil, CEO Actro Co., Ltd. and Han Sang-won, CEO of Dasco Co., Ltd., received the government’s awards and commendation and the Korea International Trade Association Prize for their contribution to leading the global market development and trade promotion.

     

    Of these companies, Nova International was decided to be an award winner of the Order of Industrial Service Merit as the company was in danger of shutting down its factories in 2015, but it has found foreign buyers with its eco-friendly material shoes. PUBG, which is well-known as "Battle Ground," won the Export Tower of US $ 600 million in exports, as the company’s exports increased by more than 12 times year-on-year due to the expansion of the users in the markets in North America and Europe. CEO Kim Yu-mi of YukiPlus Co., Ltd. was the youngest representative of the top exporters and received the honor of winning the Export Tower of US $ 50 million with the exports of cosmetics.

     

    According to the Korea International Trade Association, Korea’s trade has maintained its position as the 6th largest exporter in the world, achieving US $ 1 trillion for the second consecutive year and exceeding US $ 600 billion in exports for the first time. By item, semiconductors surpassed US $ 100 billion for the first time as a single item, and IT parts such as computers, crude oil-related products, and general machinery also led exports growth. In addition, eight new industries, including electric cars and advanced materials have been positioned as new export engines.

     

    The Korea International Trade Association said, "Korea’s exports account for 36.3 percent of gross domestic product (GDP), the third highest following Netherlands and Germany." The organization also stressed, "Korea needs to diversify our export markets into new southern and new northern regions and strive to foster premium consumer goods as well as high value-added service industries in order to ensure stable growth of exports, which serve as the driving force of the Korean economy."

     

     

    2018 Performance of Korea’s Trade

     

    Achieved trade of $ 1 trillion for 2 consecutive years 

    Achieved export of $ 600 billion for the first time, Has maintained the top 6th

       position

    Significant increase in export volume compared with major countries 

    Trade surplus of $ 100 billion in material parts, the largest in history

    Semiconductor export reached $ 100 billion for the first time as a single

       product

    Achieved new record in the exports of semiconductor, general machinery,

       and petrochemicals

    Established 8 new industries as new export growth engine

    Exports to China are brisk, with premium consumer goods

     

     

     

     

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