Korean media: South Korea's export situation in the second half of the year is still not optimistic, the government formulates emergency measures

　　China News Service, July 4. According to a report by Korea International Broadcasting Station (KBS) on July 4, affected by the situation in Russia and Ukraine, energy and raw material prices have risen, and South Korea's export situation in the second half of the year is still not optimistic.

In this regard, the South Korean government has formulated urgent measures to expand the scale of trade financing for small and medium-sized enterprises and mid-sized enterprises by more than 40 trillion won, and focus on solving logistics difficulties.

　　According to reports, South Korea's exports in the first half of this year reached a record high of 350.3 billion US dollars.

Imports, however, have grown faster, with a trade deficit of $10.3 billion in the first half of this year, far exceeding the previous record of $9.1 billion in the first half of 1997.

　　In addition, in the first half of this year, South Korea's imports of crude oil, natural gas, coal and other energy sources surged by 88% year-on-year, and this trend is expected to continue in the second half of the year.

　　South Korean Deputy Prime Minister Chu Kyung-ho said that the prolonged conflict between Russia and Ukraine has led to continued instability in the global supply chain, and export logistics costs such as aviation and water transportation remain high.

　　In order to alleviate the difficulties of these enterprises, the Korean government has decided to expand the scale of trade financing for small and medium-sized enterprises and medium-sized enterprises by more than 40 trillion won, and provide support for alleviating the logistics difficulties of small and medium-sized enterprises.

　　In addition, taking into account factors such as the slowdown in growth in major countries such as the United States and the shrinking global trade volume, the Korean government will also seek to fundamentally improve the export structure, such as opening up new markets such as Europe and Southeast Asia, and developing high-tech materials, components and equipment exports. and more promising industries.

　　The South Korean government will announce measures to support the semiconductor industry within this month, and will hold a joint private-government export situation assessment meeting to discuss plans to reduce the trade deficit.