Sokcho City Announces 2025 First Half Economic Trends
Exports Reach $8.285 Million, Highest in Two Years
Economic Activity Participation Rate Rises to 67.2%, Employment Rate Up to 66.4% Compared to Previous Period
On December 25, Sokcho City in Gangwon Province announced the '2025 First Half Economic Trends,' which provides an overview of the region's economic flow for the first half of 2025. According to this report, the Sokcho economy showed a clear recovery in export and employment indicators, while the real estate market contrasted sharply with a steep decline in transaction volume.
The most notable feature of this first half economic trends report is the marked recovery in exports. Export volume surged to 8.285 million US dollars, the highest in the past two years, with a significant increase compared to the previous period. The expansion of exports, particularly in food and direct consumer goods, had a positive impact across the local industries.
Recent export and import amounts, trade balance increase and decrease trends. Provided by Sokcho City
In contrast, land and building transactions decreased compared to the previous period.
The area of land transactions was recorded at 584,980 square meters, down 76.11% from the previous period, mainly due to decreased transactions by residents of Gangwon Special Self-Governing Province and Seoul. Building transactions also fell by 44.64% to 1,446 units, primarily due to a decrease in transactions by residents of Seoul and other regions.
Regarding employment and jobs, the economically active population increased by 4.65% from the previous period to 45,000, while the economically inactive population decreased by 12% to 22,000. The economic activity participation rate rose by 4.84 percentage points to 67.2%, and the employment rate increased by 4.57 percentage points to 66.4%. The unemployment rate increased by 22.2 percentage points to 1.1%. Although the participation and employment rates rose, indicating expanded labor market participation, the unemployment rate edged up slightly due to an increase in job seekers.
The number of registered business owners in Sokcho for the first half of 2025 was 24,242, up by 58 from the previous period and by 108 compared to the same period last year. The largest proportions of registered business types were real estate leasing, services, and retail, in that order.
The number of business owners in daily life-related sectors remained on an upward trend, reaching 6,942. Among these, Korean restaurants accounted for the largest share at 1,595, while pensions and guesthouses saw the highest growth rate, increasing by 5.17% from the previous period.
The number of companies operating in the Daepo Agro-Industrial Complex increased by five to 124 compared to the previous period, while total production amounted to 125.016 billion won, representing a 1.60% decrease from the previous period.
The number of registered foreigners stood at 1,734, up 4.39% from the previous period and 15.83% compared to the same period last year. The most common visa statuses were non-professional employment, student, and employment. Sokcho City analyzed that the increase in foreign workers is helping to meet the labor demand in local industries.
A Sokcho City official stated, "Based on this economic trends report, we will establish tailored economic policies and business plans to stabilize small business management, foster the growth of small and medium-sized enterprises, and create jobs. We will continue to work with relevant agencies and economic organizations to further revitalize the local economy."
Meanwhile, this economic trends report includes data from a total of 12 areas, including population, employment, finance, and tourism. Detailed information is available to everyone on the Sokcho City Hall website.
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