ULSAN < invest Korea

According to Yonhap News,

In the wake of the effectuation of Korea-US FTA (KORUS FTA), Ulsan's exports to U.S. have dramatically risen, according to Ulsan.

Its exports to America amounted to $2.698 billion during March-May period, recording a year-on-year growth of 31.2 percent.

On the other hand, Ulsan's entire exports have decreased 12.4 percent from a year earlier.

By sector, the automobile industry has turned out to be the biggest beneficiary of the FTA, recording a 52.9 percent year-on-year increase to $1.396 billion. It is responsible for a whopping 51.7 percent of the city's total exports.

Automotive parts, petrochemical product and steel exports have posted an increase of 35.9 percent, 12.3 percent and 35.5 percent, respectively.

Source Text

Source: Yonhap News (July 2, 2011)

** This is an English translation of a Korean text.