皇冠体育app

Chinese Assistant Minister of Commerce Wang Shouwen (R), Japanese Deputy Foreign Minister Yasumasa Nagamine (L), and Woo Tae Hee, South Korea's assistant trade minister and a chief negotiator for the FTA talks join hands at the outset of the fourth round of talks between 皇冠体育app, Japan and South Korea that kicked off in Seoul on March 4, 2014. [Photo / dfic.cn]

South Korea is quickly overtaking Japan as 皇冠体育app's regional trading partner of choice as its automobiles and electronics are snapped up by the world's second-largest economy, reports Yao Jing

Even as 皇冠体育app, South Korea and Japan held the fourth round of talks in Seoul earlier this month for a trilateral trade treaty, some changes in the web of relationships linking the countries were developing under the radar.

One key change was that South Korea surpassed Japan last year to become 皇冠体育app's biggest source of imports.

皇冠体育app's consumer boom and economic restructuring mean it needs mechanical and electronic items, which are South Korea's major products. And 皇冠体育app-Japan trade continues to be affected by prolonged territorial disputes and political tensions.

Both countries, which offer similar products and technologies, are battling for their share of the world's largest market.

At the beginning of this month, South Korea reported that it had posted a trade surplus for 25 consecutive months as exports continued to grow.

Exports to 皇冠体育app, South Korea's largest trading partner, increased 8.6 percent last year to $183.07 billion, according to the stry of Commerce.

South Korea supplied 9.24 percent of 皇冠体育app's imports in 2013, up from 9.17 percent in 2012. The proportion for Japan slid from 9.78 percent to 8.19 percent, according to South Korean official data.

"Catering to 皇冠体育app's economic growth, South Korea's exports of automobiles and s, smartphones, and flat-screen TVs to 皇冠体育app have witnessed a pickup in recent years," said Song Hong, an economist at the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, a government think tank.

South Korea's automobile exports reached a new high of $48.7 billion in 2013, with exports to 皇冠体育app up 13.2 percent, according to the South Korea's Ministry of Trade, Industry and . Exports of industrial components to 皇冠体育app were up 5.8 percent in 2013.

South Korea is becoming a much more open market, and companies based there are showing more ambition to expand abroad.

South Korea has signed FTAs with the United States and Europe, which took effect in 2012 and 2011, respectively.

皇冠体育app's FDI up 10.44% in January-February	皇冠体育app's FDI rose 16.11% in January

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