S. Korean Shipping Firms Set New Record in Container Loads
South Korea’s shipping companies achieved 32 full container loads in a row, posting a new record thanks to a surge in the quantity of exported goods.
According to industry insiders on Monday, the nation’s shipping industries are witnessing signs of a recovery after being stuck in a slump since Hanjin Shipping Company went bankrupt in 2017.
The latest feat comes after the nation’s exports rose sharply despite the COVID-19 pandemic.
Exports for March are estimated to have surged 16 percent on-year. In particular, exports of semiconductors and automobiles are leading such growth by posting two-digit growth.
Cho Young-moo, a researcher at the LG Economic Research Institute, said the growth in the nation’s exports resulted after economic and social activities in major economies began picking up amid high expectations for COVID-19 vaccines.
Source: KBS World