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China ousts the U.S. as Korea's top trade partner
In a rare feat, South Korea’s total exports to the United States have been surpassed by its exports to China and Hong Kong. During the January to September 2002 period, Korea exported 20.3 percent of its total national exports to China and only 20.2 percent to the US, states the Bank of Korea (BOK).
According to a researcher at Korea Institute for International Economic Policy, the Korean-Chinese trade relationship will expand from just commodity trades and investments to include the financial and service sectors.
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