Huh Wan, Executive managing director Korea Automobile Manufacturers Association said: “It‘s true that Korea’s exports benefited from the earthquake in Japan, as well as Toyota recall. This is the result of us taking our chance and securing Japan‘s supplies”, quoted by Arirang news in S. Korea.
Demand for Korean cars has risen last month by 99 percent and 230 percent and will likely continue. Wan added the Korea-EU FTA, the Korea-US FTA and a possible FTA with China will boost Korea’s auto exports. If it makes strategic plans, the future of Korea‘s auto export will be bright, he saud.
At the interview with the newns, Cheong Chul, Senior researcher Korea Institute for Econ. Policy, said that semiconductors and mobile phones are one of the key export items, but recently, exports of these items are slowing down.
As the country’s major smartphone manufactures begin producing in factories overseas, the shipment of mobile phones dropped by over 30 percent.
Figures show that Japan‘s exports are struggling, growing only seven percent while other advanced economies recorded a double-digit growth.
Korea, which is currently the world’s seventh largest exporter, was among the countries that showed the fastest rate of export growth last year.
(아주경제 송지영 기자)
reporter
Park Sae-jin
swatchsjp@ajunews.com