Tip:
Highlight text to annotate it
X
Korea's trade surplus surged to a record high last year despite the economic uncertainties
gripping the globe. With the world's economy showing steady signs
of recovery this year,... Korea's exports are expected to reach close to 6-hundred billion
U.S. dollars in 2014. Ji Myung-kil reports.
The future looks rosy for the Korean economy in the new year.
Korea's trade surplus widened to a new high of 44 billion U.S. dollars in 2013 as exports
continued to grow at a steady pace while imports dwindled.
The yearly export total for 2013 came to 5-hundred-59 billion dollars -- the highest in the country's
history. Strong outbound shipments of mobile phones,
home appliances and semiconductors drove the record figure.
For the first time in three years, semiconductors sat atop the export list.
The economic recovery seen in many Western economies is likely to help Korea's exports
stay on the upswing in 2014. Korean automakers are hoping to sell more
cars in the U.S. this year as the U.S. economy continues to pick up steam.
The shipbuilding industry also expects a positive year,... estimating double-digit growth.
"Orders for offshore structures are on the rise. If the orders go well, it will boost
exports this year."
Korea's steel industry faces a less certain 12 months.
"China's steel production capacities have grown rapidly,... threatening Korean steelmakers.
It has become another China risk factor."
The weak Japanese yen may act as another hurdle to Korea's outbound shipments... but thanks
the international popularity of key product items... Korea's exports may break into new
territory yet again this year. Ji Myung-kil, Arirang News.