Korea seeking more yuan-denominated trade with China
Korea seeking more yuan-denominated trade with China
  • By Yeon Choul-woong (bruceyeon@koreaittimes.com)
  • 승인 2015.05.26 18:38
  • 댓글 0
이 기사를 공유합니다

Korea is striving to do more trading with China in the Chinese yuan, given that Korea enjoys a trade surplus with the world’s most populous country, China News Service said Monday on its English-language site ecns.cn.

The story said that earlier this year, Korea became one of the world’s newest offshore trading centers for yuan, adding that trading between the two countries would be cheaper if they did not have to change funds into U.S. dollars or euros before completing transactions.

A fourth of Korean exports head to China, with Korea in March this year posting a trade surplus of US$8.4 billion with China on combined trade of US$290 billion.

Korean imports from China include components and resources, and Korean exports range from semiconductors, machinery and cars to ships, cell phones and TVs.

Ecns.cn also said other countries are seeking to do trade in yuan, adding that it could become one of five global currencies in the Special Drawing Rights basket of the International Monetary Fund in October.

“With the dollar strengthening, many of these countries are questioning the wisdom and economic impact of a total reliance on the greenback,” it added.

By Yeon Choul-woong

삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • #1206, 36-4 Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea(Postal Code 07331)
  • 서울특별시 영등포구 여의도동 36-4 (국제금융로8길 34) / 오륜빌딩 1206호
  • URL: www.koreaittimes.com / m.koreaittimes.com. Editorial Div. 02-578-0434 / 010-2442-9446. Email: info@koreaittimes.com.
  • Publisher: Monica Younsoo Chung. CEO: Lee Kap-soo. Editor: Jung Yeon-jin. Juvenile Protection Manager: Yeon Choul-woong.
  • IT Times Canada: Willow St. Vancouver BC, Canada / 070-7008-0005.
  • Copyright(C) Korea IT Times, Allrights reserved.