The presidential office is shedding light on the outcomes of President Moon Jae-in’s New Southern Policy.
Kim Hyun-chul, the head of the presidential committee on the policy, held a media briefing on Wednesday marking a year since Moon announced the policy aimed at deepening South Korea's ties with Southeast and South Asian countries.
Kim said the country's trade with the Association of Southeast Asian Nations(ASEAN) stood at 132-point-one billion dollars in the January to October period, up seven-point-six percent from a year earlier, and is poised to surpass 160 billion dollars for the whole year.
He said the government will do its best to reach the target of 200 billion dollars worth of bilateral trade by 2020.
The committee said exports to Vietnam, in particular, reached 40 billion dollars over the cited period and projected that by 2020, it will surpass South Korea’s exports to the European Union.
[Photo : YONHAP News]