BUSINESS

Agricultural goods exports rise despite China's retaliation: data

By Yonhap
  • Published : Dec 7, 2017 - 15:04
  • Updated : Dec 7, 2017 - 15:04

South Korea's exports of agricultural products rose for the first 11 months this year, industry data showed Thursday, despite China's economic retaliation against the deployment of a US missile defense system.

China has been retaliating economically against South Korea since early this year after pushed forward the installation of the US Terminal High Altitude Area Defense missile system, which Beijing sees as a security threat.

(Yonhap)

South Korea's total shipments of farm and livestock products abroad soared 5.1 percent to $6.2 billion in the January-November period from a year earlier, according to the figures provided by the Korea Agro-Fisheries & Food Trade Corp.

Exports to China, however, fell 9.8 percent to $896 million during the time span, although numbers rebounded and rose 4.1 percent on-year to $106 million in November. Last month Seoul and Beijing agreed to restore bilateral ties that had been strained by the THAAD row.

South Korea's exports of agricultural and livestock products to Japan, meanwhile, surged 13.4 percent to $1.2 billion in the first 11 months of 2017 on-year.

Exports to Taiwan and Thailand also climbed 10.8 percent and 57.2 percent to $294 million and $169 million, respectively, during the 11 months. (Yonhap)