This time, let's take a look at our economic situation in turn, where various difficulties overlap.
Korea's trade balance, which measures the amount of exports and imports of goods, has been in deficit by more than $10 billion so far this year.
Exports have increased considerably, but imports have increased more rapidly as international raw material and energy prices have risen sharply. First, reporter Jee Hee-won reports.
Daewoo Shipbuilding & Marine Engineering (DSME) has been busy with the number of ships being built due to the success of winning orders.
Sales in the first quarter of this year were KRW 1.24 trillion, up 13% from the previous year.
However, the result was an operating loss of KRW 470.1 billion.
The higher the cost of materials, the more you lose money.
In fact, the price of steel plate for ships has risen by 100,000 won per ton from last year and by over 500,000 won compared to two years ago.
[Daewoo Shipbuilding & Marine Engineering Employee: As we build (ship), the price of raw materials goes up.
Since the cost is higher, the 100-billion-dollar ship has to cost 120 billion won to build...
The same is true for other companies.
From the 1st to the 20th, Korea's exports amounted to $38.6 billion, up 24% from the same period last year, with ships, steel, and petroleum products doing well.
However, due to a surge in the price of major raw materials, imports increased by 37.8% to 43.4 billion dollars, significantly exceeding exports.
In particular, imports of oil, gas, and coal, the three major energy sources, increased significantly.
If this trend continues, the trade deficit is expected for three consecutive months until this month, and the deficit for three consecutive months is the first in 14 years since the 2008 financial crisis.
[Kim Jung-sik / Professor Emeritus of Economics, Yonsei University: In 2008, the trade deficit widened due to the high oil price, which is called a 'mini-exchange crisis'...
In such a situation, if the trade balance deteriorates due to a decrease in external credibility (it may become quite difficult)] If the
trade balance deteriorates, the current account surplus may decrease and economic strength may decrease.
If this trend is not caught, the possibility of stagflation cannot be ruled out.
(Video editing: So-young Lee, CG: Chan-hyeok Lim)
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