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South Korea’s trade ports processed a total of 29.08 million TEUs of containers in 2020, which only shrank a minute 0.5% from the previous year, according to the nation’s Ministry of Ocean and Fisheries (MOF). Exports and imports accounted for 16.42 million TEUs in total, down 1.9%, consisting of 8.29 million TEUs of exports, down 1%, and 8.13 million TEUs of imports, down 2.8%. Containers transshipped at the ports remained on an upward trend, growing 1.6% to 12.48 million TEUs.

By port, 22.5 million TEUs were moved to and from Busan, up 3.3%. The combined volume of exports and imports, however, diminished 5.4% to 10.35 million TEUs. Contributing factors were decreased in containers to and from major trade partners, such as the U.S., which went down 2.1%, and Japan, down 9.6%, although those to and from China improved 4.8%. Focusing on exports to the U.S., they soared in October, November and December, up 24.4% to 91,000 TEUs and up 18.6% to 90,000 TEUs and up 14.9% to 80,000 TEUs, respectively.


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