The Ministry of Trade, Industry and Energy held the 55th Trade Day Ceremony with the Korea International Trade Association (KITA) to celebrate the country’s trade achievements at COEX in Seoul on December 7.
In 2018, Korea’s trade grew at the fastest rate to reach USD 1 trillion, and its exports are expected to surpass $600 billion for the first time ever. Particularly, outbound shipments of semiconductors, general machinery, and petrochemicals are all projected to break their records. Diversifying export items and destinations also saw improvement. Against the backdrop of these achievements, the country is projected to remain as the world’s sixth largest exporter.
During a reception after the ceremony, Trade, Industry and Energy Minister Sung Yunmo expressed gratitude for the efforts and commitment of trade workers and stressed that now is the time to seek fundamental changes in the trade sector to make a leap forward. He also asked for a concerted effort to advance export industries, to diversify export markets, and to increase exports of small and medium-sized enterprises.
The reception was attended by more than 1,300 trade experts and business leaders, including Korea International Trade Association (KITA) Chairman Kim Young Ju, Korea Employers Federation (KEF) Chairman Sohn Kyung-shik, and Korea Trade-Investment Promotion Agency (KOTRA) President Kwon Pyung-oh.