Korean news channel YTN (Channel 24)

The position of China, which is the ‘undisputed No. 1’ in the Korean export market, is shaking.

On the other hand, exports to the United States have risen to the bottom of exports to China, and in the first quarter of this year, the United States rose to Korea’s largest trade surplus.

Reporter Eom Yoon-ju reports.

[기자]

China, which used to be Korea’s biggest export market and ‘undisputed No. 1’, is not as good as it used to be.

Exports to China between January and May this year were $49.7 billion, down 27.3% from the same period last year.

The trade balance has also been in deficit for the past year, with the exception of the ‘glaring surplus’ in September last year.

China’s share of total exports is falling.

While China has been slowing down, the vacancy has been filled by the United States.

Trade with the United States recorded a surplus of $7.2 billion in the first quarter of this year

The United States has risen to Korea’s No. 1 trade surplus.

Exports to the US also performed well amid the overall trade deficit trend over the past year.

In particular, exports to the United States last April totaled $9.18 billion, reaching the bottom of China’s exports.

[정인교 / 인하대 국제통상학과 교수 : 시간이 갈수록 미중 갈등이 더 격화되고 있고, 중국은 중국 나름대로 자립 경제화를 추진하고 있어 앞으로 우리나라의 대중 수출은 줄어들고 대미 수출이 늘어날 가능성이 큽니다.]

The biggest reason for the sluggish exports to China is that exports of semiconductors, the largest export item, have plunged to half last year’s level.

Therefore, if the semiconductor economy recovers after the second half, exports to China may rebound, but China’s semiconductor self-sufficiency rate is also on the rise, so it is expected that it will be difficult to recover to the previous level.

This is YTN Eom Yun-ju.

Video editing; Lee Young-hoon

graphics; Yoo-dong Park

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