Illustrative image (Source: stratsisincite.wordpress.com) Seoul (VNA) – The Institutefor International Trade under the Korea International Trade Association (KITA)listed Vietnam as one of the top five importers of the Republic of Korea (RoK) in2017 in its report released on June 20.
The others include China, the US,Hong Kong (China), and Japan. The five importers accounted for 56.5 percent ofthe RoK’s total exports.
Australia, India, Taiwan (China),Singapore and Mexico were among the top 10 importers that made up 69.2 percentof the total.
The RoK ranked second, just behindHong Kong, in the Herfindahl-Hirschman index that measures the concentration ofexports to major markets.
KITA mentioned the row betweenthe RoK and China over the deployment of the Terminal High Altitude AreaDefense (THAAD) anti-ballistic missile defence system, the US’s quota on steelexports and its request to revise the bilateral free trade agreement that showedshortcomings in the RoK’s export structure.
Looking into export portfolios oftop seven exporters, including the RoK, the report pointed out that the RoK’sexpected profitability and volatile risks were the second highest, behindJapan’s.
It suggested that the governmentshould diversify export markets, especially to ASEAN, the European Union, theSouthern Common Market (Mercosur) and the Eurasian Economic Union (EAEU) while mitigatingexports’ exposure to impacts from political and diplomatic situation withseveral special countries.-VNA
The others include China, the US,Hong Kong (China), and Japan. The five importers accounted for 56.5 percent ofthe RoK’s total exports.
Australia, India, Taiwan (China),Singapore and Mexico were among the top 10 importers that made up 69.2 percentof the total.
The RoK ranked second, just behindHong Kong, in the Herfindahl-Hirschman index that measures the concentration ofexports to major markets.
KITA mentioned the row betweenthe RoK and China over the deployment of the Terminal High Altitude AreaDefense (THAAD) anti-ballistic missile defence system, the US’s quota on steelexports and its request to revise the bilateral free trade agreement that showedshortcomings in the RoK’s export structure.
Looking into export portfolios oftop seven exporters, including the RoK, the report pointed out that the RoK’sexpected profitability and volatile risks were the second highest, behindJapan’s.
It suggested that the governmentshould diversify export markets, especially to ASEAN, the European Union, theSouthern Common Market (Mercosur) and the Eurasian Economic Union (EAEU) while mitigatingexports’ exposure to impacts from political and diplomatic situation withseveral special countries.-VNA
VNA
