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وكالة الأنباء القطرية
Qatar Bank Highlights South Korea's Trade Role
The article focuses on South Korea's commercial performance during this year. The country has demonstrated a remarkable ability to adapt to shifts in global trade by reshaping its economic role. Korean exports reached record-high figures, surpassing $100 billion in June with an annual growth rate of 70.9%. There has been an increased reliance on exports of semiconductors and information and communication technologies, which for the first time accounted for more than half of total exports. South Korea has made significant efforts to reduce its dependence on China, strengthen its relations with the United States through trade and security agreements, invest $350 billion in the U.S., and support the development of its defense and nuclear industries. However, South Korea faces challenges such as a declining trade surplus with China and changing market dynamics. For instance, its surplus shrank from $100 billion in 2018 to $20 billion last year. This situation prompts the country to diversify its markets, enhance its presence in Southeast Asia, and develop global supply chains in the technology and defense sectors.
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