The Report Predicts That South Korean Exports Will Increase By 6% Next Year

- Dec 05, 2020-

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South Korea's "MoneyS" reported on December 2 that the Korea Trade Association predicted in the report "Import and Export Evaluation for 2020 and Outlook for 2021" published on the same day that South Korea's exports will increase by 6% next year to reach 538.2 billion US dollars and imports will increase by 5.4 %, reaching 490.1 billion US dollars.


   From the perspective of product types, with the increase in demand for digital economy transformation and the expansion of the 5G smartphone market, semiconductor exports are expected to increase by 5.1% to US$100 billion.


  Automobiles and accessories benefited from the recovery of the global economy and the basal effect. It is expected that exports, mainly environmentally friendly cars and SUVs, will show a double-digit growth trend.


   In addition, the Trade Association stated that this year, new industries such as environmentally friendly vehicles and batteries have become new export drivers. From January to October, the export of environmentally friendly vehicles increased by 23.7% year-on-year;


   From January to September, the global market share of three Korean battery companies including LG Chem, Samsung SDI, and SK Innovation totaled 35.1%;


   Since April this year, exports of semiconductor systems (8.4%) and memory (1.7%) have both increased, which has played a role as a pillar of South Korea’s exports.


Relevant freight rates Shenzhen Guangzhou Pearl River Delta Hong Kong Shanghai Ningbo Xiamen Qingdao Tianjin Dalian

Port of departure Port of destination Shipping company 20GP 40GP 40HC Validity Details

Shekou, Shenzhen Incheon IAL 250 400 400 2020-11-15-2020-11-30 Details

Shekou, Shenzhen Busan OOCL 350 1100 1100 2020-12-01-2020-12-14 Details

Shekou, Shenzhen Incheon OOCL 350 1000 1000 2020-12-01-2020-12-14 Details

Shekou, Shenzhen Incheon COSCO 400 700 700 2020-12-01-2020-12-07 Details

Shekou, Shenzhen Incheon COSCO 400 700 700 2020-12-01-2020-12-07 Details

Shekou, Shenzhen Busan HMM 450 1350 1350 2020-12-01-2020-12-14 Details

Shekou, Shenzhen Busan HMM 450 1350 1350 2020-12-01-2020-12-14 Details

Shekou, Shenzhen Incheon HMM 450 1350 1350 2020-12-01-2020-12-14 Details

Shekou, Shenzhen Incheon HMM 450 1350 1350 2020-12-01-2020-12-14 Details

Shekou, Shenzhen Incheon SITC 450 800 800 2020-12-01-2020-12-07 Details



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