South Korea reduces export dependence on China, looks to Middle East, US and EU

The government will mobilize its utmost efforts to fine-tune its export strategy under the broader goal of strengthening South Korea’s trade balance, according to nine economic ministries. The main goal is to strengthen the overseas expansion of 15 growth-promoting local manufacturing industries, including close and continuous follow-up of 26 memorandums of understanding (MOUs) signed between South Korea and Saudi Arabia. is. The Middle Eastern country has signed investment deals worth around 40 trillion won ($29 billion) with South Korean companies, the country’s prime minister and Crown Prince Mohammed bin Salman reaffirmed during their visit to South Korea last week. . Infrastructure Minister Won Hee-ryong said on Monday that multi-trillion won joint venture projects would be announced by the end of the year.

https://koreatimes.co.kr/www/nation/2022/11/419_340409.html?utm_source=fl South Korea reduces export dependence on China, looks to Middle East, US and EU