S. Korean companies are energetically seeking ways to overcome challenges of the global market

1According to the data released by the Korea Customs Service (KCS), the country’s trade surplus reached $6.65 billion last month, signifi cantly down from the $8.89 billion reported for September. However, the nation posted a trade surplus for the 45th month in a row in October as imports dropped at a faster pace than exports.
Korea’s trade growth was being hurt by the sluggish demand in China, where there is a policy of supporting domestic industry and demand to sustain the world’s secondlargest
economy amid moderate growth in exports. The Korea Economic Research Institute (KERI) recently announced that Korea’s trade surplus with China fell by 13 percent to $35.3 billion in the fi rst nine months this year from $40.4 billion the same period a year ago. This year-on-year fall is steeper than the full-year 12-percent decline from $62.8 billion in 2013 to $55.2 billion in 2014.
The nation’s export companies are seeking ways to embrace these challenging conditions in the China market, mainly by obtaining comparative superiority over China’s competitors per industry. The eight companies to be introduced through this year’s 12th edition of Korea Buyers Guide are of some of those facing such tough market conditions both in China and globally, but they are representative of a circle of Korean industry succeeding in overcoming such challenges.

korean-machinery.com | Blog Magazine of korean-machinery, brands and Goods

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