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S Korea 2005 exports to top $285b target
10/13/2005
SEOUL, Oct 12 (Reuters): South Korean exports this year will likely exceed the government's target of $285 billion, a parliamentary address from President Roh Moo-hyun said today.
In the speech, read by Prime Minister Lee Hae-chan, Roh said South Korea's economy has passed its trough and also cited improvements in the job market, capital investment and private consumption.
"After having exceeded $250 billion in 2004, exports grew 12.4 per cent for the first nine months of this year from a year before and are expected to top this year's target of $285 billion despite steep rises in oil prices," Roh said.
The target represents a rise of more than 12 per cent in annual exports after a 31 per cent gain to $253.85 billion in 2004, according to government data.
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