{"id":52068,"date":"2024-03-25T00:00:00","date_gmt":"2024-03-25T00:00:00","guid":{"rendered":"http:\/\/myanmarnewswire.com\/?guid=a41c2b6b315bd0ecb6746e3e18e4d0bd"},"modified":"2024-03-25T00:00:00","modified_gmt":"2024-03-25T00:00:00","slug":"govt-to-inject-255-tln-won-in-trade-insurance","status":"publish","type":"post","link":"https:\/\/myanmarnewswire.com\/govt-to-inject-255-tln-won-in-trade-insurance\/","title":{"rendered":"Gov’t to inject 255 tln won in trade insurance"},"content":{"rendered":"
\n The industry ministry said Monday the government will inject a record amount of 255 trillion won (US$189.4 billion) in trade insurance this year.<\/p>\n
“Despite prolonged monetary tightening, supply chain reshuffling due to U.S.-China tensions, geopolitical risks, and major countries’ elections, exports have shown a robust start this year,” Industry Minister Ahn Duk-geun said during a meeting with business officials.<\/p>\n
South Korea’s exports moved up for the fifth consecutive month in February as the outbound shipments of chips maintained an upward trajectory, advancing 4.8 percent on-year to $52.4 billion.<\/p>\n
“On the back of the strong performance of major products in key markets, exports are set to maintain growth in March to rise for six straight months,” Ahn added.<\/p>\n
The trade minister noted that the budget allocated for trade insurance will help South Korea achieve its annual export target of $700 billion in 2024.<\/p>\n
The ministry said that out of the budget, 136 trillion won will be allocated to key sectors, such a
\ns chips, batteries and ships.<\/p>\n
An additional 7 trillion won will be spent on the defense industry, while 15 trillion won will be allocated to the energy sector and 4 trillion won to the defense industry, it added.<\/p>\n
Source: Yonhap News Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
The industry ministry said Monday the government will inject a record amount of 255 trillion won (US$189.4 billion) in trade insurance this year.<\/p>\n
“Despite prolonged monetary tightening, supply chain reshuffling due to U.S.-China tensions, geopolitic…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\n