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Cambodia s investment environment creates more chances for Korean businessmen

Govt unveils W23tr plan to boost exports

In a bid to bolster the competitiveness of the country's exports, which form the foundation of Korea's economy, the government has introduced an additional 23 trillion won ($17.18 billion) financial support plan, building upon a prior 16.7 trillion won initiative in funds for export enterprises. The "Comprehensive Export Finance Support Plan" comes after the fourth meeting on export strategy conve.

Government to boost exports with W23tr financial support plan

In a bid to bolster the competitiveness of the country's exports, which form the foundation of Korea's economy, the government has introduced an additional 23 trillion won ($17.18 billion) financial support plan, building upon a prior 16.7 trillion won initiative in funds for export enterprises. The "Comprehensive Export Finance Support Plan" comes after the fourth meeting on export strategy conve.

[CONTRIBUTION]Radical approach needed to tackle sluggish exports: KITA vice chairman

Recently, Korea s trade deficits hit an all-time high as its exports continue to struggle. In February this year, Korea s exports had fallen 12.1 percent year-on-year to $96.4 billion while imports grew by 0.2 percent year-on-year to $114.3 billion, resulting in a trade deficit of $18 billion. In response, the Korean government has employed various measures to boost its exports. Nevertheless, the path to recovery seems uncertain as the sluggish exports are due to several factors: global recession prompted by quantitative tightening with higher interest rates, Korea s export structure reliant on intermediate goods including memory semiconductor and a weakening industrial base in recent years.

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