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Korea's Superb Companies Contributed to Opening the $1 Trillion Trade Era
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South Korea’s trade volume reaching $1 trillion, which is almost a miracle that has significance not only for Korea but for developing countries, Korea International Trade Association chairman SaKong Il said at a global conference on “New Vision for Korea’s Trade in the One-Trillion-Dollar Trade Era” held at the InterContinental hotel in southern Seoul.
In 1964, the country designated Export Day when exports rose above $100 million, and at the time the main export items included tungsten and squid. Less than 50 years later not only has our trade reached $1 trillion but includes automobiles and other high-tech items.
With Korea’s trade volume, including exports and imports, expected to surpass $1 trillion this year, Korea is set to become the ninth country in the world to achieve the milestone. Furthermore, the FTA with the EU and the Korea-U.S. FTA, which was ratified by the National Assembly in Seoul on Nov. 22, 2011, along with trade agreements with other important markets, are expected to provide additional impetus for growth of the Korean economy.
According to KITA, the value of Korea’s exports for the first eight months of the year came in at $368.8 billion, while that of imports came to $347.8 billion putting the total at just above $700 billion. The figure for exports is the seventh largest in the world, and that makes Korea the world’s ninth largest importer.
This news is especially meaningful since the nation reached this economic milestone in the midst of the recent global economic uncertainties.
Many people - both experts and general public - agree that this achievement has been made possible due to the challenging spirit and constant endeavors of Korea’s numerous enterprises, from top-notch companies to small-and medium-sized enterprises (SMEs) in such various industries as consumers goods, food, textiles, electronics, machineries, ships and IT, just to name a few.
As our way of paying tribute to this remarkable accomplishment, Buyers Guide in this issue introduces dozens of Korean consumer goods companies that manufacture quality products and solidified their presence in the global markets as well as the domestic market.
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Infrared Thermometer
HuBDIC’s non-contact infrared thermometer (FS-700) measures body temperature in just one second without touching the skin. The non-invasive and non-contact thermometer enables people to check the body temperature of achild or baby easily, accurately and instantly without concern about cross contamination.
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Stove
Paseco’s Kerona is one of the best-known stove brands with a staggering market share of 50% in the world market. The Kerona heater has very stable combustion and uses non-electric thermal control as asafety device. The convention-type heater provides safe, efficient and comfortable qualities, warming the space better than any other heaters.
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Thermal Massage Bed
Ceragem is a healthcare company specializing in developing and manufacturing thermal massage beds. The company introduced automatic thermal massage beds for the first time in the world in 1998, and saw the market share of its thermal massage bed ranked No.1 in the global market in 2007. It has enjoyed an annual growth by 45 percent for the past five years.
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Outdoor Footwear
TrekSta is a manufacturer of technical outdoor footwear. Particularly, owing to its unparalleled high-quality products and constant innovation, the company’s outdoor footwear has gained great customer confidence and high brand recognition among local consumers. Currently, TrekSta outdoor footwear sells in more than 20 countries around the world.
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low-speed Silent Juicer
NUC Electronics is a manufacturer and exporter of small specialty electrical household appliances for nutrition-minded consumers. With its mission to design and manufacture home appliances with the users' health in mind, NUC has made innovative, high quality ‘health-food’ appliances since 1978, such as juice extractors, blenders, yogurt makers, food processors, dehydrators and soymilk makers.
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Musical Instruments
As one of the world’s largest and most experienced manufacturers of musical instruments, Samick provides fretted instruments and pianos ranging from high-quality, feature-rich entry level instruments, to worldclass acoustic and digital pianos worldwide.
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