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S. Korea to boost exports of consumer goods: finance minister

All News 09:47 June 12, 2019

SEJONG, June 12 (Yonhap) -- South Korea aims to achieve US$35 billion worth of exports in five major consumer goods by 2022, the finance minister said Wednesday, in the latest efforts to boost its slowing exports.

Hong Nam-ki, the minister of economy and finance, set the target in a meeting with officials in Sejong on how to revitalize Asia's fourth-largest economy.

The five major consumer goods are cosmetics, fashion items, baby products, pharmaceutical products and agricultural and fishery products.

The combined value of outbound shipments of the five consumer goods reached $27.7 billion in 2018, up from $20 billion in 2014.

They accounted for 4.6 percent of South Korea's total exports last year, up from 3.5 percent in 2014.


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