The hometown of tech giant Samsung, Korea anticipated being placed at the 6th position in the world’s largest trading nation this year. It seems to be possible due to successive and historical rankings from some previous year.
On the day the ceremony was carried out to mark the 59th Trade Day on Dec. 5, the president of Samsung electronics shared words in the form of a congratulatory speech during the occasion. He added, “We will mobilize all our export support capabilities to become one of the top five export powerhouses by 2026.”
Korea could be placed 6 for the first time ever in the World Trade
In the opinion of the Ministry of Trade, Industry, and Energy, Korea could be placed 6 in the World Trade as statistics itself depict. This year Korea’s export business is expected to reach US$680 billion, which would be referred to largest ever. Which felt pleased when compared previous record export volume registered last year (US$644.4 billion). The export and import rankings rises from 7th last year to 6th and from 9th to 8th, respectively, globally in Korea.
The interesting diversification of Korea’s export regions submits itself in the highest-ever export figures in the four major regions. The Association of Southeast Asian Nations (ASEAN), the United States, the European Union (EU), and India. In the words of the experts, Korea diversified its export structure is one slide lower than the nation China.
Koo Ja-yeol, head of the Korea International Trade Association convinced.
“Considering that our economy is ranked 10th in the world, achieving the world’s 6th largest trade volume is a staggering achievement that once again confirms Korea’s status as a global trading powerhouse.”
On the same day, Samsung rewarded various esteem in the pretty omen. It won the highest amount in 2022 among Korean companies. Which refers to the 120 Billion Dollar Export Tower Award. The Korean tech giant set a new record in only one year since winning the 110 Billion Dollar Export Tower Award last year. Whereas, other 1,780 companies received the Export Tower Award, up by 207 compared to 2021 while 535 companies took home the One Million Dollar Export Tower Award, an increase of 19 companies.
This year’s world trade gathering seems to be successive for Korea due to Samsung’s leading growth. Samsung is doing good in each and every era of growth. Hope this content proves effective for you all. For more news and updates and other technical information, @Samnew24 will consistently provide you, stay tuned forever.