Importers' outlook for S. Korean exports remains strong for Q3

SEOUL, July 12 (Yonhap) -- A majority of foreign importers of South Korean goods
expect the country's export conditions to improve in the third quarter, a poll
showed Monday, amid reports that Seoul's overseas shipments will hit a record
high this year.
The Business Survey Index (BSI) of overseas buyers for the July-September period
came to 53.1, up from 51.6 for the second quarter, according to the survey by the
Korea Trade-Investment Promotion Agency (KOTRA).
The survey was conducted on 1,934 foreign importers of South Korean products. A
reading above 50 means more respondents believe their business conditions, or
conditions for South Korean exports, will improve.
"Conditions for our exporters are continuing to improve as shown in the positive
outlook of conditions by buyers," said Oh Sung-keun, KOTRA's executive vice
president for trade information.
"Now is especially the right time to seek an expansion of our market share by
finding new opportunities," he added.
An earlier survey conducted on South Korean exporters by a local trade group,
the Korea International Trade Association (KITA), showed the number of optimists
had edged down from the April-June period, although their overall sentiment
still remained positive.
The latest survey, jointly conducted by KOTRA and the Samsung Economic Research
Institute, explained the drop in KITA's exporter business survey index may have
been due to the exporters' rising production costs and prices.
A BSI of foreign importers for South Korean exports' price competitiveness came
to 49.2, according to the state-run KOTRA. The BSI for quality competitiveness
came to 56.8.
KITA earlier said that the country's exports will increase 22.4 percent this year
from a year before to a record high of US$445 billion, with imports also rising
to a new high of $424.7 billion.
bdk@yna.co.kr
(END)

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