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Jeollanamdo’s Economic Dependence on China Grows

전남 경제, 중국의존도 높아졌다

Jeollanamdo’s Economic Dependence on China Grows

 

Jeollanamdo's economic dependence on China continues to grow as major export revenues from regional farming and fisheries goods and sales profits from main industrial projects are generated from China.

Along with this, a series of huge capitalist projects from China are making their way into the regional industry and provincial projects.

According to Jeollanamdo, the province’s total export amount until May this year surpassed 16.5 billion dollars, down 5.5 percent from the same time last year.

Experts attributed the recent fall in Jeollanamdo’s major export items, such as petrochemical, steel, and shipbuilding, which fell by 2 percent, 10 percent and 33 percent, respectively, to China’s slow economic growth and the rapid fall in the exchange rate.

As the Chinese impact on provincial export revenues is expected to grow, Jeollanamdo will reportedly prepare measures for expanded export items to China.

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Jeollanamdo’s Economic Dependence on China Grows
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