Despite the slowdown in the global economy, South Korea will see its trade
surge in coming years on the back of increased shipments to Asian countries, a
report said Wednesday.
According to a report on international trade by
HSBC Group, South Korea's trade is expected to expand 142 percent by 2026
compared with 2011, outpacing the worldwide trade growth of 86 percent during
the same period.
The report forecast that trade activities by South
Korean companies will increase 5 percent annually over the next 15 years while
South Korea's exports of electronic products will expand 13 percent annually
until 2016.
Seoul, which counts exports as its key growth engine, has
been accelerating bids to expand its "economic territory" by signing free trade
deals with major economies.
Asia's fourth-largest economy is expected
to implement its free trade pact with the U.S. next month. A similar free trade
deal with the European Union went into effect in July 2011.
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