Korean Shipbuilding Parts Export to China Surge
China's imports of shipbuilding parts and equipment produced by South Korean firms surged this year, Yonhap reported.
The report quoted Korea Trade-Investment Promotion Agency (KOTRA) saying that China's imports of South Korean shipbuilding parts and equipment reached US$28.3 million in the first four months of the year, sharply up 37.6 percent from a year earlier.
During the cited period, China's overall purchase of such parts edged down 0.9 percent on-year to $71.5 million, the report said.
South Korea is the fourth-largest supplier of shipbuilding-related parts for China after Germany, Japan and the U.S.
A sharp increase in imports from South Korea is largely due to China's long-term plan to boost its global standing in the heavy industrial sector, the state-run trade promotion agency said.
