Detail

` A set of 8 special stamps featuring Korea’s 8 key export industries is being issued in recognition of the efforts and fruits reaped by Korea’s export industries which steer the nation’s economy and enable the nation’s development to enjoy widespread prominence around the world. The 8 key export industries of Korea in 2005 included automobiles, semi conductors, petrochemicals, electronics, machinery, shipbuilding, steel and textile industries. Their combined exports in 2005 posted $221.37 billion, taking up as much as 77.7% of the nation’s total export volume. At the vanguard were the electronics industry whose exports totaled $61.9 billion, or 22% of Korea’s total volume of exports and the automobile industry whose export volume amounted to $38 billion. The electronics industry has, in particular, accomplished an impressive feat, with its 32 products recording remarkable growth to rank as world-class products. Representing 10.6% of Korea’s total export volume, the semiconductor industry was the biggest exporter in terms of a single product line. Especially, its memory sector has retained its world’s No.1 position since 2002, shored up by the world leading competitive edge. As a basic industry that produces essential industrial materials such as ethylene, synthetic resin (plastic), synthetic textiles (polyester, nylon, etc.) and synthetic rubber, Korea’s petrochemical industry boasts the world’s 5th largest ethylene production capacity. The machinery industry, a core backbone industry that provides the facilities required by Korea’s key export industries, achieved $22.2 billion in export volume and $4.3 billion in trade surplus, respectively, in 2005. The shipbuilding industry maintained its world’s No.1 ranking by building a range of ships equipped with state-of-the-art functions such as LNG delivery ships, containers, automobile delivery ships, etc. The steel industry that provides the materials needed for various key industries such as construction, automobiles, shipbuilding, machinery, etc. boasts the 5th largest production capacity in the world. Lastly, the textile industry, as a strong earner of foreign-currency that accounts for as much as 30.5% of the country’s total trade surplus, has recently converted into a life/culture industry, or the knowledge service industry, thanks to the convergence of technology with IT, BT, etc. It is anticipated that the issuance of these 8 new stamps will provide constructive acknowledgment to encourage the nation’s enterprises to make more investments, and show appreciation for their efforts as well as advance an enterprise-friendly environment. `