Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
First snow to fall in Seoul on Wednesday
-
4
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
5
Man convicted after binge eating to avoid military service
-
6
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
7
S. Korea not to attend Sado mine memorial: foreign ministry
-
8
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
9
Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
-
10
Nvidia CEO signals Samsung’s imminent shipment of AI chips
Exports created a record high 4.47m jobs in 2017: report
By YonhapPublished : Feb. 18, 2018 - 15:37
South Korean export growth helped create a record 4.47 million jobs in 2017, a report by a local think tank showed Sunday.
Asia's fourth-largest economy shipped out $573.7 billion worth of goods last year, the highest amount tallied in a one-year period, with such gains contributing to a large number of new jobs in the country, the findings by the Institute for International Trade showed.
The institute said the total exceeded the 4.08 million posts created by exports in 2016, with the job creation effect of exports to all positions created reaching 16.8 percent last year for a gain of 1.3 percentage points vis-a-vis the year before.
By industry, autos contributed 640,000 new jobs, followed by 360,000 for semiconductors.
Despite the gains, the IIT under the Korea International Trade Association said the number of jobs created per $1 million in exports stood at 7.79 last year from 8.22 in 2016.
“The reason for the falloff in job creation is mainly due to a poor showing by textiles and consumer electronics that generate more jobs than other areas," the think tank said.
The latest report then said export contribution to economic growth reached 64.5 percent, the highest since the 66 percent tallied in 2012.
It said a rise in volume and the rise in the unit price of goods shipped abroad all contributed to economic growth for the country.
The report said the effect of exports increasing imports rose 0.7 percentage point to 44.1 percent last year, with the value-added ratio of outbound shipments on the local economy dipping slightly to 55.1 percent from 55.9 percent in 2016. (Yonhap)
![[More than APT] Residents, architects together design homes](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/11/24/20241124050036_0.jpg&u=)
