MOCIE Targets US$25 Bil. Trade Surplus

The Ministry of Commerce, Industry and Energy (MOCIE) set the government's goals for a trade surplus and foreign direct investment (FDI) at US$25 billion and US$15 billion each. Speaking at a policy coordination meeting at Chongwadae regarding exports and FDI, Park Tae-young, the MOCIE minister, said Korea's exports this year are anticipated to amount to US$134 billion, a 0.6% increase over the last year; imports are expected to be US$109 billion, a 16.8% increase over 1998.

Park said that the ministry will take all possible measures to increase exports in order to attain the goal of a trade surplus. To attract more FDI into the country, the ministry plans to implement policies to boost government support for foreign investors in their business operations after the investment.

(Kim Ki-hoon, khkim@chosun.com)

1999.1.20