Vehicles await cargo abroad at a port in Pyeongtaek, Gyeonggi Province, Monday. Yonhap
Korea’s yearly exports are anticipated to hit a document excessive in 2025 on the again of sturdy efficiency by key export gadgets, similar to semiconductors, cars and ships, the business ministry mentioned Thursday.
From January to November, outbound shipments reached an all-time excessive of $640.2 billion for the interval, in contrast with a earlier document of $628.7 billion posted in 2022, the Ministry of Commerce, Trade and Sources mentioned.
In keeping with the ministry, annual exports for 2025 are poised to surpass the $700 billion mark for the primary time. The info was launched on the event of the nation’s 62nd Commerce Day.
The ministry mentioned main export gadgets, together with semiconductors, cars, ships and bio-health merchandise, led the nation’s exports this 12 months, together with the sturdy efficiency by meals and wonder merchandise amid the hovering world recognition of Korean tradition.
This 12 months, Seoul additionally diversified its export markets, increasing shipments to the Affiliation of Southeast Asian Nations (ASEAN), the European Union and different areas, past its earlier focus on america and China, the ministry added.
Exports by small and medium-sized enterprises (SMEs) additionally hit a document $87.1 billion within the first 11 months of this 12 months.
“This 12 months’s achievements are the results of our industrial competitiveness mixed with our sturdy will to export, they usually embody the resilience and energy of our financial system,” Trade Minister Kim Jung-kwan mentioned.
“Shifting ahead, we’ll construct on this record-breaking efficiency to open new paths for Korea’s commerce by means of industrial innovation and Ok-culture,” he added, vowing efforts to unfold the optimistic momentum to SMEs and native communities.
Within the ceremony marking the 62nd anniversary of Commerce Day, main chipmaker SK hynix obtained the very best award given to corporations that export greater than $35 billion.
Logistics agency Hyundai Glovis additionally obtained an award for attaining an collected $6 billion value of exports, and shipbuilder HD Hyundai an award for an collected $4 billion value of exports, in accordance with the ministry.
