Poland-trade surplus

▲ This photo taken on June 7, 2023, shows a K2 tank in a live-fire drill conducted in Pocheon, Gyeonggi Province. (Pool photo) (Yonhap)

Poland-trade surplus

Poland emerges as source of S. Korea's 5th-biggest trade surplus thanks to defense exports

SEOUL, June 11 (Yonhap) -- Poland emerged as the source of South Korea's fifth-biggest trade surplus in the January-April period thanks to increased defense industry exports, trade data showed Sunday.

South Korea posted a surplus of US$2.71 billion in trading with Poland during the January-April period, following the surplus of $10.85 billion with the United States, $7.6 billion with Vietnam, $5.3 billion with Hong Kong, and $3.6 billion with India, according to data from the Korea International Trade Association (KITA).

In the first four months, Korea shipped $255 million worth of K2 tanks and armored vehicles to Poland, exceeding $201 million worth of the same products exported to the European country for the whole of 2022, KITA said.

Poland has paid about $460 million for the Korean K2 tanks.

Last year, Poland signed deals to purchase an estimated 20 trillion won ($15.5 billion) worth of K2 tanks, K9 self-propelled howitzers and FA-50 fighter jets from Hyundai Rotem Co., Hanwha Aerospace Industries Co., and Korea Aerospace Industries Co. (KAI), respectively, KITA said.

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