https://www.koreatimes.co.kr/www/biz/2024/10/126_383879.html
Surge in export growth raises hopes of Korea surpassing Japan
Korea's exports are growing at a faster pace with less than three months remaining in 2024, raising hopes of surpassing Japan in outbound shipments for the first time in history.
www.koreatimes.co.kr
Seoul outperforms Tokyo in several economic indicators
surge = rush = jump = soar = burgeon = skyrocket = rocket = gush = mount = grow = brew = increase sharply = rise steeply = shoot up = increase rapidly = proliferate = leap 급증하다, 급등하다
raise hopes of ~라는 희망을 북돋우다, 희망을 높이다
surpass = exceed = outstrip = outdo = overrun = outrun = outperform = run faster than = outpace = go faster than = go beyond = be more than 초과하다, 넘어서다, 증가하다
indicator = index = pointer 지표
Korea's exports are growing at a faster pace with less than three months remaining in 2024, raising hopes of surpassing Japan in outbound shipments for the first time in history. This optimism arises as Korea has started to outpace Japan in several economic statistics and surveys released this year by institutions both domestically and internationally.
grow at a faster pace 빠른 속도로 증가하다
raise hopes of ~라는 희망을 북돋우다, 희망을 높이다
outbound shipments = exportation = export 수출량, 수출
inbound shipments = importation = import 수입량, 수입
for the first time in history 역사상 처음으로
outpace = surpass = exceed = outstrip = outdo = overrun = outrun = outperform = run faster than = go faster than = go beyond = be more than 초과하다, 넘어서다, 증가하다
both domestically and internationally = at home and abroad = in all parts of the world = internally and externally = domestically and abroad 국내외에서, 국내와 해외 둘다
They include the Bank of Korea’s (BOK) 2023 gross national Income (GNI) and International Institute for Management Development’s (IMD) 2024 national competitiveness assessments. According to the Ministry of Trade, Industry and Energy, Korea's exports in the first nine months of 2024 reached $508.8 billion, making it the second-highest total for any comparable period in the country's history.
the Bank of Korea 한국 은행
gross national income (GNI) 국민 총소득
International Institute for Management Development (IMD) 국제 경영 대학원
national competitiveness assessments 국제 경쟁력 평가
mark the second-highest total 두번째로 높은 총 합을 기록하다
for any comparable period 어떤 시기와 비교해도
For the June-September period, outbound shipments rose 10.7 percent year-on-year to $173.9 billion. The amount was also the second-highest for any third quarter of the year after the government began compiling relevant data. Exports surged 7.5 percent year-on-year last month, continuing a growth streak for the 12th consecutive month.
year-on-year = compared to last year = over the previous year = for the preceding year = in comparison with 작년대비, 전년대비, 작년에 비해서
third quarter 3분기
compile relevant data 관련 데이터를 수집하다
a streak of ~의 연속
a growth streak 성장세
continue a growth streak 성장세가 계속되다
consecutive = straight = successive = in a row = continuing = continued 지속적인, 연속적인
As a result, outbound shipments reached an all-time high for any single month, totaling $58.77 billion. Additionally, average daily exports in September reached a record high of $2.94 billion. "All the data are certainly intriguing enough to capture public interest in whether Korea can surpass Japan in exports," said Cho Hyuk-soo, an international trade professor at Chungnam National University.
reach an all-time high = reach a record high = hit a historic high = hit a new high = hit a fresh high = break a record 사상 최고점을 찍다, 최고점을 찍다, 역사적인 신고점을 찍다
total = sum up to = add up to = amount to = tally = number = reach = run into = arrive at = get to ~에 이르다, ~에 달하다, 총 ~에 달하다
average daily export 하루 평균 수출액
intriguing = compelling = eye-catching = remarkable = noticeable = noteworthy = captivating = persuasive = convincing = gripping = engrossing = enthralling = staggering = astounding = astonishing = amazing = absorbing = interesting = exciting = riveting 아주 흥미로운, 관심을 끄는, 설득력이 있는, 놀라운, 사로잡는
capture public interest in = draw public attention = arrest public attention = attract public interest ~에 있어 대중의 관심을 끌다
In particular, the professor highlighted that Korea reduced its export gap with Japan to a record low of $3.5 billion in the first half of 2024. Back then, Korea’s exports advanced 9 percent year-on-year to reach $334.8 billion, whereas Japan’s outbound shipments retreated 3.6 percent to $338.3 billion. “Such a narrowed gap is dramatic considering Korea used to be one of the poorest countries in the world and that it was nowhere close to Japan that once boasted the world’s second-largest economy after the United States,” Cho said.
in particular = particularly = especially = not least = notably 특히, 특별히
reduce to a record low 기록적으로 낮은 수치까지 줄이다
it was nowhere close to ~와 견줄 수 없다, ~에 어디에도 가깝지 않았다
boast = tout = show off = brag about = flaunt = strut about = strut around 자랑하다, 과시하다
When asked about the possibility of Korea becoming a larger exporter than Japan, Kang In-won, a professor of international business and trade at Kyung Hee University, said it will depend on sustaining growth momentum in the final quarter of the year. “Japan is picking up pace in exports, meaning Korea should also step up to catch up with its archrival and eventually take the lead,” Kang said.
international business and trade 국제 비지니스와 무역
growth momentum = growth engines = growth impetus = growth streak 성장 동력, 성장가속소, 성장세
pick up pace = pick up speed = speed up = expedite = gather speed = gain traction = increase speed = accelerate = spur 속도를 올리다, 박차를 가하다
step up = increase = ramp up = amp up = boost = bolster = fortify = consolidate = solidify = enhance = reinforce 강화하다, 올리다, 증가시키다
catch up with = keep up with = follow = go after = tag along 따라가다, 따라잡다
archrival 최대의 라이벌, 경쟁상대, 숙적
take the lead = take the mantle = take the helm = spearhead = be in the vanguard = be in the front of = be the driving force behind = become the spearhead 선봉에 서다, 주도권을 쥐다
He noted that Japan, after reducing the export gap with Korea to its lowest level in the first six months, has since widened the difference again in the following two months. Japan reported $472.3 billion in exports from January to August, compared to Korea's $450.1 billion during the same period. A trade official, who requested to remain anonymous, said aiming for over $700 billion in annual exports could position Korea to surpass Japan in the coming years.
gap = difference = gulf = discrepancy = variation = variance = distinction = disparity 차이, 갭
during the same period 같은 기간 동안
remain anonymous = speak on the condition of anonymity 익명으로 유지하다, 익명으로 말하다
The official noted that Japan's annual exports have surpassed $700 billion for the past three years. Korea aims to achieve the $700 billion milestone this year, but the pace of export growth is "slightly falling short" of reaching that goal, according to the official. “But even if Korea fails to outpace Japan in exports this year, a growing number of stats show Seoul has better economic competence than Tokyo,” Kang said.
annual exports = annual exportations = annual outbound shipments 연간 수출량
surpass = exceed = outstrip = outdo = overrun = outrun = outperform = run faster than = outpace = go faster than = go beyond = be more than 초과하다, 넘어서다, 증가하다
milestone 중요한 단계, 획기적인 단계
fall short = fail to reach = run short of = not reach = be below = not cater to = not live up to 모자라다, ~에 미치지 못하다, 하회하다
a growing number of = an increasing number of = incremental = more and more = growing = mounting = steadily increasing 점점 증가하는
economic competence 경제적 능력, 경제 능력
Citing the BOK data released in June this year, he highlighted that Korea's GNI per capita reached $36,194, surpassing Japan's at $35,793 in 2023. The finding came after the BOK adjusted the base year of national accounts to 2020 from 2015 in its regular revision of relevant statistics. The national accounts capture all transactions occurring within an economy, including metrics like gross domestic product (GDP), currency exchange rates, and other factors that determine GNI per capita.
release data 자료를 내놓다, 자료를 공개하다
GNI per capita 1인당 국민 총 소득
base year 기준 연도
national accounts 국가 회계
gross domestic product (GDP) 국내 총 생산
gross national product (GNP) 국민 총 생산
currency exchange rates 통화 환율
Korea's GNI per capita in 2023 rose to $36,194, reflecting a 7.2 percent increase from the previous figure after adjustments. Also released in June, the IMD’s 2024 national competitiveness assessment ranked Korea 20th, an improvement from its 28th position in 2023. Japan, on the other hand, was 38th in the rankings published annually by the IMD, one of the world’s leading business schools based in Switzerland.
from the previous figure 전년도 수치에 비해
International Institute for Management Development (IMD) 국제 경영 대학원
national competitiveness assessments 국제 경쟁력 평가
on the other hand = conversely = whereas = while = as opposed to = in contrast to = contrary to = on the flip side = on the contrary 대조적으로, 반면에, 한편으로는
What was noteworthy for Korea was that it ranked second only to the U.S. among the “30-50 club” countries, which have a per capita income of $30,000 and a population of over 50 million. The U.S. ranked 12th. In its 2024 forecast, the International Monetary Fund (IMF) projects Korea's GDP per capita to reach $34,165, surpassing Japan's forecast of $33,138.
noteworthy = intriguing = compelling = eye-catching = remarkable = noticeable = captivating = persuasive = convincing = gripping = engrossing = enthralling = staggering = astounding = astonishing = amazing = absorbing = interesting = exciting = riveting 아주 흥미로운, 관심을 끄는, 설득력이 있는, 놀라운, 사로잡는
second only to A A에 버금가는, A 다음으로
rank second only to ~에 이어 두 번째로 높은 순위를 차지하다
International Monetary Fund (IMF) 국제 통화 기금
forecast = estimate = ballpark figure = guesstimate = prediction = projection 예상치, 예상, 추정치
It also projected Korea's real GDP growth to reach 2.5 percent in 2024 and 2.2 percent in 2025, surpassing Japan's estimated growth of 0.7 percent and 1.2 percent. Speaking at the National Assembly's interpellation session last month, Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok said Korea has stronger microeconomic indicators compared to Japan, even though Tokyo surpasses Seoul in all macroeconomic indices.
project = conjecture = surmise = compute = estimate = guess = guesstimate = expect = forecast = assume = pressume = anticipate = predict = suspect = jump to conclusions 예상하다, 예측하다, 추정하다
interpellation session 대정부 질문 회의, 질문 세션
microeconomic indicators 미시경제 지표
macroeconomic indices 거지경제 지표
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