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Biomedicines, Batteries and OLEDs Drive Korean Export Growth
According to the Korean Ministry of Trade, Infrastructure and Energy, the first half of 2021, the total value of overseas shipments of bio and health products, secondary batteries, agricultural products, cosmetics, systems-on-chip, electric vehicles and OLEDs produced $47.7 billion during H121, up 29.9% Y/Y, In 3026, exports stood at $23.9 billion. The share that the six items reached 15.8% in H121 up 9.9 percent five years ago. US-bound shipments soared by 238.5 percent as systems-on-chip, electric vehicles and OLED products reached their highest levels in five years, the data showed. Korea’s economy has for decades relied heavily on the overseas sale of chips, cars and electric gadgets to grow. The country’s total exports during the six-month period marked $303.24 billion, which was the best first-half performance ever recorded. The top five contributors were chips, general machinery, ships and cars, including electric vehicles, and steel products.
According to the Korean Ministry of Trade, Infrastructure and Energy, the first half of 2021, the total value of overseas shipments of bio and health products, secondary batteries, agricultural products, cosmetics, systems-on-chip, electric vehicles and OLEDs produced $47.7 billion during H121, up 29.9% Y/Y, In 3026, exports stood at $23.9 billion. The share that the six items reached 15.8% in H121 up 9.9 percent five years ago. US-bound shipments soared by 238.5 percent as systems-on-chip, electric vehicles and OLED products reached their highest levels in five years, the data showed. Korea’s economy has for decades relied heavily on the overseas sale of chips, cars and electric gadgets to grow. The country’s total exports during the six-month period marked $303.24 billion, which was the best first-half performance ever recorded. The top five contributors were chips, general machinery, ships and cars, including electric vehicles, and steel products.
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