Exports to Vietnam exceed those to Japan for first time.
Vietnam surpassed Japan to become the fourth-largest export market of South Korea in the first seven months of the year.
According to the Korea International Trade Association and the Korea Trade - Investment Promotion Agency, the value of South Korean exports to Vietnam during the period reached over $16 billion, exceeding the $15 billion exported to Japan.
This is the first time South Korean exports to Vietnam surpassed those to Japan.
In the first seven months South Korean exports to Japan fell by more than 19 per cent year-on-year due to a weaker Japanese Yen and falling crude oil prices on international markets.
Its exports to China, meanwhile, stood at $79 billion, to the US nearly $42 billion, and to Hong Kong nearly $17 billion.
Last year South Korean exports to Vietnam reached over $22 billion, less than Japan’s $32 billion, China’s $145 billion, and the US’s $70 billion.