Changwon City Anticipates Continued Positive Momentum
as Major Companies Secure Significant Overseas Contracts This Year
Changwon Special City in South Gyeongsang Province announced on July 28 that the export volume of the Changwon region in the first half of this year reached $11.7 billion, a 7.9% increase compared to the same period last year.
According to the recently released import and export statistics from the Korea International Trade Association, the export volume of the Changwon region in the first half of this year was recorded at $11.7249 billion. This achievement marks the second consecutive year that exports in the first half have surpassed $10 billion, following last year's $10.86267 billion, which was the first time in 11 years since 2013.
Additionally, import volume for the first half of this year was $3.0399 billion, resulting in a trade surplus of $8.685 billion. The trade surplus increased by 10.4% compared to the same period last year ($7.86509 billion). The Changwon region's trade surplus ranked fourth highest nationwide among all metropolitan and local governments.
The city of Changwon expects that the positive trend in exports will continue, as major companies have secured significant overseas contracts again this year. The city also plans to provide unwavering administrative and financial support to help companies expand their export markets.
In March, Doosan Enerbility signed consecutive contracts for the construction of the Luma 1 and Nairiya 1 gas combined cycle power plants (worth approximately KRW 2.2 trillion) and the PP12 project (worth approximately KRW 890 billion) in Saudi Arabia. More recently, the company signed a contract worth KRW 900 billion with Vietnam's largest state-owned enterprise, Vietnam National Oil and Gas Group (PVN), for the construction of the O Mon 4 gas combined cycle power plant.
In April, Hanwha Aerospace signed a second export contract with India for K9 self-propelled howitzers worth KRW 390 billion. The K9 self-propelled howitzer is currently in operation in Turkey, Poland, Finland, Estonia, Norway, Australia, Egypt, and Romania. It has also been reported that an export contract with Vietnam is currently underway.
In June, 'Team Korea', which includes Doosan Enerbility, signed the main contract for the construction of a new nuclear power plant in Dukovany, Czech Republic, a project worth KRW 26 trillion. Doosan Enerbility is expected to supply key equipment for this project.
In July, Hyundai Rotem finalized a second export contract with the Polish government for K2 tanks, securing an export deal worth KRW 9 trillion. Currently, Hyundai Rotem is also focusing on winning a new tram project in Poland, valued at KRW 1.3 trillion.
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