Andeok Geun Visits Pyeongtaek Port as First Official Site: "Exports Are the Top Policy Priority"

On the 5th, An Deok-geun, Minister of Trade, Industry and Energy, visited Pyeongtaek Port, Korea's representative automobile export port, as his first official move after taking office, expressing his determination to prioritize the upward trend of exports in policy.

Pyeongtaek Port has maintained the number one position in handling domestic automobile export and import cargo volume for 14 consecutive years. It processes about one-third of Korea's automobile exports, earning it the nickname "the forward base of automobile exports."

Anduk Geun, Minister of Trade, Industry and Energy. Photo by Huh Younghan younghan@

Minister An stated, "Despite the US Inflation Reduction Act (IRA) last year, our automobile exports showed favorable trends in both quantity and unit price, achieving a record high of 70.9 billion dollars, driving export surpluses," and emphasized, "This year, based on the demand for eco-friendly vehicles in North America and Europe, we will strive to sustain the record-high automobile export momentum."

In fact, automobile export value surged by 31% from 54.1 billion dollars in 2022 to 70.9 billion dollars last year. During the same period, export volume increased by 20% from 2.3 million units to 2.77 million units, and the export unit price rose by 10% from 21,000 dollars to 23,000 dollars.

Minister An continued, "As the minister in charge of exports, I will become a catalyst for achieving the record-high export target of 700 billion dollars and make our exports a driving force for economic growth by running at full speed," explaining, "We will promote export policies centered on three keywords: strengthening the three major support infrastructures of marketing, finance, and certification; diversifying markets and increasing the added value of items; and expanding the export base."

On the day, after listening to the export difficulties of the automobile industry, Minister An boarded the Glovis Sky heading to the Middle East to inspect automobile loading volumes, and at a coffee truck visited together, he personally handed warm coffee to frontline workers responsible for automobile export logistics, encouraging their hard work at the export site.

The Ministry of Trade, Industry and Energy plans to make every effort to firmly establish the export growth momentum this year as well. First, it will flawlessly execute the largest-ever export support projects, including 355 trillion won in trade finance and about 1 trillion won in export marketing, to support Korean companies' overseas expansion. Additionally, by expanding trade networks with major countries through Free Trade Agreements (FTA) and Trade and Investment Promotion Frameworks (TIPF), it will actively pursue market diversification. It will also identify promising items in response to global market changes such as green transition and supply chain restructuring and provide focused support through overseas trade offices. Furthermore, through export workforce development projects in various sectors such as export tech companies, specialized trading companies, and digital trade personnel, it plans to expand the scope of Korean exports.

This content was produced with the assistance of AI translation services.