GWANGJU < invest Korea

According to Yonhap News,

Gwangju recorded the trade surplus of $738 million last month.

Gwangju said on Thursday that its exports amounted to $1.092 billion, down 1.8%, and its imports decreased 20.6% to $344 million as compared to the last year.

Gwangju surpassed Busan ($943 million) for the first time, being ranked the fourth in exports following Ulsan, Seoul and Incheon.

Its five major export products including automobiles (37.5%), semiconductors (16.3%), electronic goods (16.5%), rubber tires (10.9%) and machinery and precision devices (10.1%) account for a whopping 91.6% of its total exports.

The U.S. comes first with $265 million (24.5%) in terms of the city's export volume followed by China (8.4%), Philippine (6.3%), Iran (4.7%) and Japan (3.9%).

"We have so far made aggressive efforts to boost our exports by having strategic meetings with the representatives of SMEs and other related institutions. I believe that our efforts have led to visible achievements," said an official of Gwangju.

Source Text

Source: Yonhap News (Feb. 23, 2012)

** This is an English translation of a Korean news article.