Japan is leader in exporting to Korea
According to recently released data on exports into Korea, Japan accounts for the 46.5% of the total, becoming the leading exporter to this destination. Chinese exports into Korea have increased to surpass the US exports, and the country became the second largest steel exporter to Korea this year. The Korean Iron and Steel Association (KOSA) reported that during the first four months of 2003, imports from China account for 11.5% of the total Korean imports, increasing by 5.7% compared o the same period of last year. Japan appears to be the biggest exporter, accounting for 46.5% of total imported steel into Korea within the January-April period of 2003, followed by China with 11.5%. The US is ranked the third biggest exporter with a rate of 11.4% imports into Korea. Korea imported the 10.8% of the total steel imports from the CIS, 6.9% from Latin America, and 2.5% from Southeast Asia, in the aforementioned period. China is at the same time the biggest export market for Korean steel, according to Korean authorities. The reports reveal that 37.8% of Korean exports were addressed to China, followed by Southeast Asia with 19.1%, Japan with 14.5%, the US with 10.2% and CIS 0.2% within the first four months of 2002.