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According to Yonhap News,
In the wake of the effectuation of Korea-US FTA (KORUS FTA), Ulsan's exports to U.S. have dramatically risen, according to Ulsan.
Its exports to America amounted to $2.698 billion during March-May period, recording a year-on-year growth of 31.2 percent.
On the other hand, Ulsan's entire exports have decreased 12.4 percent from a year earlier.
By sector, the automobile industry has turned out to be the biggest beneficiary of the FTA, recording a 52.9 percent year-on-year increase to $1.396 billion. It is responsible for a whopping 51.7 percent of the city's total exports.
Automotive parts, petrochemical product and steel exports have posted an increase of 35.9 percent, 12.3 percent and 35.5 percent, respectively.
Source: Yonhap News (July 2, 2011)
** This is an English translation of a Korean text.