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South Korea Accelerating Software Exports in 2011

South Korea Accelerating Software Exports in 2011

With many local companies actively making inroads into the global information technology (IT) service sector,
the South Korean industrial circle expect exports of US $10.7 billion worth of software in 2011. According to the
official data released by the Ministry of Knowledge Economy, this year¡¯s exports will jump by 17.1 percent on-year
as software companies become more competitive on the international market by offering reliable programs that
meet overseas requirements.

Korea-EU FTA to Facilitate Exports of South Korean Auto Parts to the EU

Korea-EU FTA to Facilitate Exports of South Korean Auto Parts to the EU

As the European Parliament has recently approved the free trade pact with South Korea, it is expected that a
free trade pact between South Korea and the EU will bring great economic benefit to both sides.
Although the deal also still needs to be ratified by South Korea¡¯s parliament in order to come into effect, the
South Korea-EU deal is expected to boost bilateral trade by as much as 20 percent in the long term, according to
estimates by the state-run Korea Institute for International Economic Policy (KIEP).

South Korea¡¯s Information Technology Industry Infrastructure Expected to Be Strongly Backed by the Nation in 2011

South Korea¡¯s Information Technology Industry Infrastructure Expected to Be Strongly Backed by the Nation in 2011

South Korea¡¯s trade surplus in the field of its information technology (IT) reached a record high of US$78.2
billion in 2010 mainly due to strong overseas demand, especially for semiconductors and display panels.
The large surplus could have been recorded by a 27.3 percent year-on-year jump in exports that reached an
unprecedented $154 billion for the whole year since the introduction of new IT appliances such as smartphones
helped semiconductor exports to soar 63.4 percent to $ 50.7 billion.
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