Export turnover between the RoK and Vietnam last year totaled some 61 billion USD, in which, the RoK spent 26.7 billion USD on importing goods from the Southeast Asian nation, according to the Korean Ministry of Trade, Industry and Energy.
Among ASEAN countries, Vietnam is emerging as a production base for global companies, the Korean ministry said, adding that Korean businesses are constantly making inroads into the Vietnamese market.
After Vietnam, the countries and territories that the RoK had large trade surplus included the US, Hong Kong (China), India and Singapore.
Last year, the RoK’s export turnover hit a high record of nearly 684 billion USD, leaping to the sixth position in the world. However, it also recorded a record high trade deficit of over 47 billion USD as its imports soared amid rising energy prices./.
