The nation topped one trillion dollars in annual trade volume this year for the first time ever.

South Korea became the ninth country in the world to achieve the milestone. Out of the countries to breach the one-trillion-dollar threshold, only six reached that figure this year, including the U.S., Germany, China, Japan, France and the Netherlands.

Minister of Knowledge Economy Hong Suk-woo said South Korea achieved the trade figure at 3:30 p.m. on December fifth.

Hong said the government will not stop at being content for reaching the one-trillion-dollar milestone and will strive to top two trillion dollars in annual trade volume.

South Korea is expected to post 557 billion dollars in exports and 523 billion dollars in imports this year for a total trade volume of one trillion and 80 billion dollars. This year’s trade surplus is expected to stand at roughly three-point-four billion dollars.

In launching economic development efforts, South Korea placed a key focus on exports. As a result, South Korea has succeeded in expanding its trade volume ten-thousand-fold since it recorded 100-million dollars in total trade in 1964.

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