Anchor: South Korea's export growth has been off the charts this year, fueled by a surge in demand for the country's semiconductors and displays. The Trade Ministry on Tuesday said the upward trend is likely to continue for the rest of the year.
Oh Soo-young reports.

Report: South Korea's export boom is set to reach new heights. Trade Minister Paik Un-gyu said in a meeting with industry officials on Tuesday that if the country maintains its current level of outbound shipments, this year's trade volume could enter the one-trillion dollar threshold for the first time in three years.

Due a protracted slump in global trade, Korea's trade figures in 2015 and 2016 had stopped short at the 900-billion dollar range per annum.

However, with the ongoing recovery in the U.S. and European markets, the Trade Ministry says Korea's trade volume hit 680-billion dollars as of July.

Despite global uncertainties surrounding the Korean economy -- such as the possible scrapping of the South Korea-U.S. free trade agreement and security threats from North Korea -- exports continued to recover in the second quarter, growing 16-point-eight percent on-year.

To further promote Korea Inc., Paik said that the government will assist small and medium businesses in particular, helping some 25-thousand local companies sell their products overseas over the next five years. 

Paik also pledged more support for R&D in new technologies such as driverless cars and drones.
Oh Soo-young, KBS World Radio News.