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Daegu Sends Delegations to Diversify Export Market

According to Yonhap News,

Daegu-si (City) will dispatch trade delegations to the Middle East and the Central and South America in a bid to diversify export markets.

Daegu recorded USD 6.98 billion in exports last year, up 9.6 percent year-on-year.

By country, exports to China came first with USD 1.52 billion, followed by America’s USD 1 billion, Japan’s USD 520 million, Hong Kong’s USD 280 million, Poland’s USD 270 million, Vietnam’s USD 240 million, India’s USD 230 million, Mexico’s USD 200 million and Brazil’s USD 190 million.

Despite the global economic downturn, Daegu saw a whopping 30 percent increase in exports to the Middle East and the Central and South America.

In order to facilitate foreign investment, the city will offer information on local markets, buyer lists, and consulting and interpretation services to companies seeking to participate in the delegations.

“At a time when companies suffer difficulties in price competitiveness due to strong won and weak yen, companies should focus on diversifying export items and markets,” said a Daegu official. “We will support Daegu-based companies to launch aggressive marketing abroad.”

Source Text

Source: Yonhap News (Feb. 1, 2013)

** This is the translation of a Korean article.