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Quote: Korea's Exports Top $400 Billion US Dollars Mark Korea's Economy has come a long way... rising from the aftermath of independence from Japanese rule and the ashes of the Korean War..to set itself up as one of the world's most dynamic economies. Fueling the phenomenal growth has been exports..which first started in 1948. What began at just around 20 million US dollars a year...broke the 100 million barrier in 1964..10 billion in 1977..and the 100-billion-dollar mark in 1995. And now 13 years later...it has quadrupled to more than 400-billion dollars: a whopping 20-thousand fold increase..in only 60 years. This is considerably faster than the 10 other nations that achieved this feat previously...whose average year-to-year growth from 100 to 400 billion dollars.. took approximately 17-point-2 years. Taking Korea's poor natural resource endowment, low savings rate and small domestic market..the government in the early 1960s...hoped to take advantage of a well-educated and highly-motivated workforce to produce low-cost, quality goods..that would make inroads in markets in the US..and the rest of the industrialized world. Seoul shifted its key export goods from agriculture and natural resources during the 60s..when there was a lack of factories to manufacture products..to light industry and textiles in the 70s. Key items of the 80s were ships and electronic goods..thanks to the development in heavy and chemical industries..and in the 90s..technology-related trade..such as computer chips, automobiles and IT products emerged...bringing the nation's economic ranking closer to that of major industrialized economies. The number of export goods in the last 13 years has seen an increase as well...by more than 700 items..from nearly 7-thousand-900 in 1995 to over 8-thousand-600 in 2008. No doubt Korea has come a long way but with the ongoing global financial crisis...Korea's export sector is feeling the pinch from faltering demand for the products...amid recessions in the US, Europe and Japan. However...experts say...given the fact exports have surged past 400 Billion dollars due to the industry's high level of sophistication..and relentless efforts to invigorate exports by stabulizing the won-dollar exchange rate, exploring niche markets and expanding support for trade and finance sectors..hopes are high that Korea can overcome this time of crisis. Yoo Jihae, Arirang News