Yongin-si Ranks First in Trade Surplus in Gyeonggi-do for the First Half of the Year

$5.87 Billion Surplus... 74.7% of Export Items Are Semiconductors
"Strengthening Support for Overseas Exhibition Joint Booths and Market Development Teams"

Among the basic local governments in Gyeonggi Province in the first half of the year, Yongin City recorded the largest trade surplus.

According to statistics from Yongin City and the Korea International Trade Association, the export value of Yongin City companies in the first half of the year amounted to $10.0144 billion (approximately 13.892 trillion KRW). Meanwhile, imports during this period were $4.14253 billion, resulting in a trade surplus of $5.87187 billion. Following Yongin, Icheon and Hwaseong ranked second and third with trade surpluses of $5.4 billion and $5.0 billion, respectively.

The large trade surplus of Yongin companies was due to imports remaining at a similar level to the same period last year ($4.07799 billion), while exports surged 122% compared to the same period last year ($4.509 billion).

The city believes that the semiconductor market recovery has brought the export value of local companies back to pre-semiconductor recession levels. In fact, semiconductors accounted for 74.7% of major export items. This was followed by ▲other machinery (5.1%), ▲semiconductor manufacturing equipment (1.7%), and ▲auto parts (1.4%). The main export destinations were China (44.7%), Taiwan (13.0%), Vietnam (11.5%), and the United States (7.8%).

The city plans to prepare various support measures to help local companies expand into overseas markets. Earlier, to promote exports of small and medium-sized enterprises, the city operated joint pavilions at 'CES 2024' held in Las Vegas, USA, in January, 'MWC 2024' held in Barcelona, Spain, in February, and the food exhibition (Thaifex Anuga Asia 2024) held in Bangkok, Thailand, in May.

To pioneer promising export markets, market development delegations were dispatched to Eastern Europe, including Romania and Poland, in April, and to the Middle East, including the United Arab Emirates (UAE) and T?rkiye, in June.

The city plans to dispatch a market development delegation to Japan in November and will also set up joint pavilions at 'CES 2025' and 'MWC 2025' next year.

A city official said, "We will continue to prepare and expand various export support measures, including overseas market development, so that local companies can grow through exports."