CHUNGCHEONGBUK-DO < invest Korea

According to a report on export and import trends in July released by Cheongju Customs, North Chungcheong Province’ exports increased by 28.6 percent year-on-year to reach USD 1.273 billion last month.

This was a record high which exceeded last May’s USD 1.216 billion.

The province set a new record in only two months.

It is the second time that North Chungcheong Province’s exports exceeded USD 1.2 billion.

Semiconductor exports were jumped by 73 percent year-on-year, reaching USD 455 million.

Exports of electrical and electronics (7 percent), fire-processed products (9.2 percent) and general machinery (4.2 percent) also contributed to export growth.

However, exports of fine machinery (-6.8 percent) slowed down.

North Chungcheong’s exports to China (25.8 percent), Hong Kong (130.6 percent) Taiwan (23.6 percent) and European Union (5.4 percent) grew, whereas those to the United States (-21.4 percent) and Japan (-6.0 percent) were reduced.

Imports stood at USD 557 million, showing a trade surplus of USD 716 million.

A customs official noted that booming semiconductor DRAM market helped export growth.

Source Text

Source: Yonhap News (Aug. 20, 2013)

** This article was translated from the Korean.