KOREAN NET

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho on June 2 speaks at the Ministerial Meeting on International Economic Affairs and one by an investment cooperation committee between Korea and the United Arab Emirates at Government Complex-Seoul in the capital's Jongno-gu District. (Ministry of Economy and Finance)

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho on June 2 said, "To expand human exchange with Japan, the number of flights between both countries will be increased to the level of 1,000 per week by the summer peak season."

He said this in the morning at the Ministerial Meeting on International Economic Affairs and another by an investment cooperation committee between Korea and the United Arab Emirates at Government Complex-Seoul in the capital.

The Ministry of Land, Infrastructure and Transport said that as of late April, the number of weekly flights to and from Japan was around 890.

"We will launch or restore dialogue channels in the fields of semiconductors, energy, and science and technology to strengthen cooperation in supply chains," the minister said. "We will accelerate economic cooperation by building collaboration this year among organizations from both nations for joint advances by companies from the two sides in third countries."

In line with this plan, a cooperative structure will be set up this year among the Export-Import Bank of Korea, Japan Bank for International Cooperation, Korea Overseas Infrastructure & Urban Development Corp., and Japan Overseas Infrastructure Investment Corp. for Transport & Urban Development.

Minister Choo also gave optimistic forecasts given recent export trends.

"Exports in May improved from April as the average daily export amount surpassed USD 2.4 billion for the first time since October last year," he said. "Such improvement will continue."

"Exports to China, a major factor behind sluggish export performance, have reached a record high this year and semiconductor exports in May also showed improvement from April thanks to higher export volume despite price cuts," he added. "Exports of cars and secondary batteries including cathode materials, two items that prop up exports, also continued to grow."

"External uncertainties remain such as fears over a global economic slowdown," he said. "We will speed up follow-up measures from the G7 (Group of 7 economies) Summit like attracting investment and expanding economic cooperation, as well as broaden our trade base to boost economic vitality and strengthen export recovery momentum."


By Lee Kyoung Mi
km137426@korea.kr