South Korea Exports Rise at Fastest Pace in 17 Months

"Overseas shipments gained 33.7 percent in December from a year earlier to $36.2 billion, the Ministry of Knowledge Economy said today."

"Imports rose 24 percent to $32.9 billion for a trade surplus of $3.3 billion."

Kim JaeEun, an economist at Hyundai Securities Co. in Seoul says, "South Korea should benefit from orders from China and emerging nations less affected by the global recession."

According to the Ministry of Knowledge Economy, "exports in January will grow at a double-digit pace from a year earlier after the global financial crisis cut January 2009 overseas shipments by 34.5 percent."

"Exports to China, the biggest buyer of South Korean goods, surged 74.4 percent in the first 20 days of December, today’s report showed. Shipments to the U.S. rose 8.7 percent and shipments to Europe gained 49.4 percent over the same period."

"South Korean President Lee MyungBak said Dec. 30 the nation’s economy is likely to expand more than 5 percent in 2010, the fastest pace in three years helped by exports and domestic spending."


Yet again, a sign that 2010 is the year for making up for the downfalls of 2009. Hopefully, all this good news will rebound off of one another and keep going, preferably not in a bubble effect...

Oh yeahhh.

-Annie Yang