Gangwon Province Ushers in Era of $3 Billion Exports: "Diversification of Export Items and Markets Pays Off"

Gangwon Achieves Record-High Export Performance
Medical Devices, Noodles, Pharmaceuticals, Electric Wires, Cosmetics, and Automobile Parts Lead the Way
Reduced Reliance on U.S. and China
Expansion into Emerging Markets in Asia and the Middle East

Gangwon Special Self-Governing Province (Governor Kim Jin-tae) announced on January 19 that, despite challenging trade conditions such as U.S. tariff impositions, the spread of new protectionism, and prolonged international conflicts since the launch of the 8th popularly elected administration, the province achieved an annual export volume of 3 billion dollars (4.5 trillion won) for the first time in its history.

Governor Jin-Tae Kim of Gangwon Special Self-Governing Province announced on the 19th that Gangwon achieved an annual export of 3 billion dollars (4.5 trillion won) for the first time in its history. Provided by Gangwon Province

This achievement was officially confirmed through data released by the Korea International Trade Association on January 16.

This performance is the result of a steady upward trend, with exports reaching 2.7 billion dollars in 2023 and 2.9 billion dollars in 2024. The provincial government attributes this export milestone to its policies focused on restructuring export item portfolios and diversifying export markets.

The export item structure shifted from 2022, when the main items were medical devices (15.8%), automobile parts (10.1%), ferroalloys (10%), electric wires (8.7%), noodles (8.4%), and pharmaceuticals (7.3%), to 2025, when the main items became medical devices (17.2%), noodles (14.1%), pharmaceuticals (10.3%), electric wires (9.7%), cosmetics (8.8%), and automobile parts (6.7%).

In particular, the share of pharmaceuticals has steadily increased, driven by the growth of local pharmaceutical material companies that meet international standards. The export structure has become more advanced, centering on high value-added, technology-intensive industries such as medical devices and pharmaceuticals. At the same time, exports of consumer goods such as cosmetics and food products have also grown, further diversifying the province's export portfolio.

From a market perspective, the province has moved away from the 2022 structure, which was heavily dependent on the United States (18.8%) and China (12.9%), and has continuously expanded its export reach to emerging markets in Asia and the Middle East, including Taiwan, Vietnam, India, and the United Arab Emirates.

The province has designated 2026 as the "First Year of Gangwon's Second Export Leap," aiming to achieve both quantitative expansion and qualitative improvement, and plans to pursue a mid- to long-term goal of reaching 4 billion dollars in annual exports by 2030.

Gangwon Special Self-Governing Province Breaks Export Record, Surpassing 3 Billion Dollars for the First Time. Provided by Gangwon Province

Accordingly, based on the results of a survey of local export companies conducted in August last year, which highlighted the need to discover alternative markets and to increase participation in overseas exhibitions, the province has set its 2026 export support budget at 4.6 billion won, an increase of 1.1 billion won compared to the previous year. Through this, it plans to strengthen support for discovering alternative markets and for strategic overseas expansion.

In addition, the province will gradually expand customized export support based on on-site demand through continuous communication with companies.

Governor Kim Jin-tae stated, "For the first time in history, Gangwon's export volume for 2025 has surpassed 3 billion dollars," and added, "Back in the 1980s, the export target for all of Korea was 10 billion dollars, but now Gangwon alone has achieved 3 billion dollars."

He continued, "Going forward, we will continue to solidify the foundation for Gangwon's export growth by diversifying both export items and export markets."