January 15, 2018 09:15
Korea is inching closer to becoming the world's fifth-largest exporting country, according to a report by Hyundai Research Institute on Sunday.
The report says the global market share of Korean exporters hit an all-time-high of 3.6 percent in September last year, not far behind the fifth-ranked Netherlands' four percent.
But whether Korea can go much further remains to be seen. Booming semiconductor exports have contributed a large part of the rise, but price increases will be limited in the latter half of this year.
The report says it is time for Korea to turn to new industries to improve its competitiveness and reduce its heavy reliance on microchips.
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