GWANGJU < invest Korea

According to the Gwangju-South Jeolla branch of the Korea Agro-Fisheries & Food Trade Corp. (aT) today, total exports from Gwangju and South Jeolla Province in May increased by 5.2 percent year-on-year. Exports of marine products showed a 9.9 percent increase (From USD 14.58 million to USD 16.023 million). Agricultural, livestock and forest product exports rose by 2.6 percent from USD 26.32 million to USD 27.011 million.

Marine product exports were decreased by 17.5 percent in February, 36.8 percent in March, and 17.4 percent in April year-on-year. However it showed an increasing trend in May.

Exports of agricultural products also increased in April, whereas they were reduced by 10 percent in February and 1.2 percent in March.

Accumulated actual exports from the region in May showed a 1.7 percent decrease year-on-year (from USD 176.535 million to USD 173.555 million). Marine product exports were dropped by 11.8 percent due to economic slowdown including the low yen.

An aT official noted that as export conditions worsen, the corporation plans to focus on increasing exports through active support programs including addition incentives for export logistics between May and July and additional support of KRW 30 billion.

Source Text

Source: Newsis (July 9, 2013)

** This article was translated from the Korean.